Havila Shipping ASA's Exciting Financial Overview for Q2 2025
Havila Shipping ASA has reported its financial performance for the second quarter of 2025, showcasing remarkable growth in freight revenues. The company achieved a total of NOK 165.5 million in freight revenues, reflecting an increase of NOK 19.5 million compared to the same period last year. Additionally, these revenues remain consistent with the preceding quarter, underscoring robust operational stability.
The company’s average assignment rates and asset utilization have also remained steady this quarter, indicating an efficient operational framework. Havila Shipping ASA's operating expenses in Q2 2025 were recorded at NOK 83.7 million, which marks an increase of NOK 9.2 million year-over-year, yet reveals a decrease of NOK 7.3 million from the previous quarter.
Operational Insights and Profitability
Havila Shipping ASA reported a notable profit before depreciation at NOK 91.3 million in Q2 2025, a significant improvement over NOK 78.4 million in Q2 2024. Fortunately, there were no impairment charges or reversals during this quarter, contrasting with the prior year when such a reversal amounted to NOK 154.0 million. Value adjustments in the company’s debt revealed a figure of NOK -22.6 million this quarter, a marked improvement from the NOK -193.3 million recorded a year prior. The profit before tax for this quarter stands at NOK 8.7 million, an impressive increase from NOK 4.0 million in Q2 2024.
First Half Results of 2025
For the first half of 2025, total operating income soared to NOK 347.5 million compared to NOK 279.0 million. Operating expenses for the same period were NOK 174.7 million versus NOK 155.8 million from last year. The operational profit before depreciation expressed exceptional growth at NOK 172.8 million against last year’s NOK 123.2 million. With depreciation costs recorded at NOK 95.0 million compared to NOK 70.3 million previously, the company experienced net financial items of NOK -88.3 million relative to NOK -202.1 million in 2024, demonstrating enhanced financial health.
Balance Sheet Strength and Liquidity
As of June 30, 2025, Havila Shipping ASA reported total current assets of NOK 316.1 million, with bank deposits amounting to NOK 155.1 million. The company’s net cash flow from operations reached NOK 108.6 million, with negative cash flow from investing activities recorded at NOK -56.8 million, illustrating an active but controlled investment approach. Moreover, the total long-term debt stood at NOK 538.9 million, consisting of loans from Havila Finans AS of NOK 499.6 million, reflecting solid financial management and commitment to maintain a healthy balance sheet.
Fleet and Workforce Overview
Currently, Havila Shipping ASA operates a fleet of 14 vessels, comprising ten Platform Supply Vessels (PSV), three subsea vessels, and one Research Rescue Vessel (RRV). The company employs a dedicated workforce of 398 seamen on these vessels in addition to employing 12 man-years in administrative roles, which emphasizes Havila's commitment to effective resource management.
Key Contacts
For further inquiries related to the company's performance and operations, please contact:
Chief Executive Officer, Njål Sævik, +47 909 35 722
Chief Financial Officer, Arne Johan Dale, +47 909 87 706
Frequently Asked Questions
What are Havila Shipping ASA's Q2 2025 freight revenues?
Freight revenues for Q2 2025 totaled NOK 165.5 million.
How does Q2 2025's profit before depreciation compare to last year?
The company reported NOK 91.3 million in Q2 2025, up from NOK 78.4 million in Q2 2024.
What is Havila Shipping ASA's current fleet size?
The company operates a fleet of 14 vessels as of June 30, 2025.
What were the total operating expenses in Q2 2025?
Total operating expenses for Q2 2025 were NOK 83.7 million.
Who can be contacted for further information from Havila Shipping ASA?
For inquiries, contact CEO Njål Sævik at +47 909 35 722 or CFO Arne Johan Dale at +47 909 87 706.
