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Viking Supply Ships (VSSAB) investor relations material
Viking Supply Ships Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net revenue for Q2 2026 was MSEK 461, up 48% year-over-year; EBITDA reached MSEK 278, up 96%.
Profit after tax for Q2 was MSEK 182, more than double the prior year; EPS was SEK 13.8.
Year-to-date net revenue was MSEK 712, EBITDA MSEK 353, and profit after tax MSEK 211.
The North Sea AHTS market saw average fixture rates rise 130% year-over-year to USD 175,000.
Leadership transition: Ulrik Mannhart appointed CEO, Bengt A. Rem as Group CEO effective August 2026.
Financial highlights
Q2 net revenue: MSEK 461 (312 in Q2 2025); EBITDA: MSEK 278 (142); profit after tax: MSEK 182 (87).
Year-to-date net revenue: MSEK 712 (459); EBITDA: MSEK 353 (180); profit after tax: MSEK 211 (63).
Equity at quarter-end: MSEK 2,220, up by MSEK 319 during the quarter.
Cash flow from operations in H1: MSEK 161; investments: MSEK 742; financing inflow: MSEK 556.
Cash and cash equivalents at quarter-end: MSEK 47; unutilized credit facilities: MSEK 530.
Outlook and guidance
North Sea AHTS spot market expected to be challenging in H2 2026 due to increased vessel supply and lower project pipeline.
Rig activity in Norway remains healthy; UK rig activity improved with more active drilling rigs.
Long-term outlook remains optimistic, supported by deepwater developments and offshore activity.
- Strong revenue growth and fleet expansion amid high North Sea AHTS rates and tight supply.VSSAB
Q1 2026 - Q4 2025 delivered strong revenue and profit growth amid a robust North Sea AHTS market.VSSAB
Q4 2025 - Q3 2025 earnings fell sharply on weak AHTS demand, despite ongoing fleet investments.VSSAB
Q3 2025 - Q2 2025 delivered robust financial growth, but market outlook remains cautious.VSSAB
Q2 2025 - Strong Q3 results and strategic investments set the stage for continued growth.VSSAB
Q3 2024 - Strong Q2 growth, cost-saving initiatives, and vessel sales boost results amid market volatility.VSSAB
Q2 2024 - Q1 revenue and EBITDA fell on weaker markets, but new contracts and investments support future growth.VSSAB
Q1 2025 - Year-over-year revenue and EBITDA growth achieved despite challenging North Sea conditions.VSSAB
Q4 2024
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