Viking Supply Ships recorded net sales of SEK276 million ($31 million) for the fourth quarter of 2025. This figure represents an increase from the SEK94 million reported during the same period in 2024.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) for continuing operations reached SEK92 million during the period. This is a shift from a loss of SEK34 million in the previous year.
The company reported that average fixture rates in the North Sea anchor handling tug supply market reached just below $100,000 during the quarter. This was a 200 per cent increase compared to the fourth quarter of 2024.
Chief Executive Officer Trond Myklebust noted that the Andreas Viking operated on a long-term contract in Australia throughout the quarter. Meanwhile, the newly acquired Ben Viking began a two-month operational contract in Congo at the start of October.
Viking Supply reported that five of its vessels worked in the North Sea spot market during the final three months of the year. The company recorded its highest rate in the fourth quarter at above $350,000 for one of its vessels.
A crane project is currently progressing according to plan, it said. Viking Supply stated it expects two vessels to be prepared for crane installations during the first half of 2026.
The total investment for this project is estimated to be slightly above $50 million. Viking Supply confirmed that the project is scheduled to be finished during the first half of 2027.
During the fourth quarter, the group entered into a loan agreement to increase its revolving credit facility. Viking Supply confirmed this facility was raised from $40 million to $85 million to provide the group with greater financial flexibility.
The company indicated that the outlook for the North Sea market in 2026 remains positive. Rig activity on the Norwegian side is expected to increase as more rigs are anchored, while the number of active rigs on the UK side is expected to grow from two to five during the first quarter of 2026, Viking Supply stated.
Viking Supply noted that vessel supply in the spot market has decreased following a migration of tonnage to Brazil in 2025.
Full-year net sales for continuing operations were SEK922 million while profit after tax ended at SEK55 million. No dividend has been proposed for the fiscal year 2025, according to the company.
