Bonheur Offshore Wind Division Q3 EBITDA Plummets

Bonheur ASA, Norwegian holding company that operates in the offshore wind sector, among other activities, released its financial results for the third quarter.

The group’s operating revenues marked a slight drop from NOK 3 411 million (EUR 365 milion), last year, to NOK 3 402 million (EUR 364.2 million), the same period this year.

Shipping / Offshore wind division reported an operating revenue of NOK 254 million (EUR 27 milion), a drop of more than 50% the same period last year. The division also reported negative EBITDA of NOK 17 million (EUR 1.8 milion), which partly offset the group’s EBITDA increase to NOK 1 305 million (EUR 140 milion).

The division’s operating result before depreciation for the same period last year was NOK 167 million (EUR 18 milion).

The Shipping/Offshore Wind division consists of Fred. Olsen Windcarrier AS, a company providing transport and installation services for the offshore wind industry, and Universal Foundation Norway AS, a company offering innovative offshore wind turbine foundations. Both companies are indirectly owned 100% through Fred. Olsen Ocean Limited (formerly named First Olsen Limited). Fred. Olsen Windcarrier AS owns 51% of Global Wind Service A/S, an international supplier of qualified and skilled personnel to the global wind turbine industry. Fred. Olsen Windcarrier AS and Global Wind Service A/S each own 50% of Fred. Olsen Windcarrier Denmark A/S.