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Gunnar Larsen30.8.20231 min read

Financial results for the second quarter of 2023

(Fosnavåg, Norway, 30 August 2023) HAV Group ASA (HAV Group, OSE: HAV), the enabler of the green transition at sea, reported revenue of NOK 200.3 million in the second quarter of 2023, an increase from NOK 159.9 million in the same quarter last year. The operating result (EBIT) was NOK 59.6 million in the second quarter, versus NOK 13.9 million last year. Revenue and profits are positively affected by a reversal of a previously accounted provision of NOK 46.9 million.

“We are pleased to see that we deliver an underlying financial performance in the second quarter that is a clear improvement on the previous quarters – irrespective of one-off effects,” says Gunnar Larsen, CEO of HAV Group.

Order intake in the second quarter 2023 was NOK 53.3 million (299). As of 30 June 2023, HAV Group’s order backlog stood at NOK 514 million (557).
Subsequent to the end of second quarter, on 17 July 2023, HAV Group announced that it has been awarded a NOK 200 million contract to develop another methanol-fuelled offshore wind service operation vessel for ESVAGT. “We are delighted to win another large and prestigious contract with ESVAGT. Moreover, we are encouraged by IMO’s recently announced revised greenhouse gas reduction strategy that aims to strengthen the energy efficiency design requirements for ships. We expect this to help drive demand for the type of products and solutions that HAV Group provides to the shipping industry,” adds Gunnar Larsen.