Revenues 11% up for Sølvtrans

Sølvtrans reports operating revenues of NOK 78.3 million in the first quarter of 2014, an increase of 11% compared to the first quarter last year. The company has during the first quarter repaid the old fleet loan, and drawn up new loan under the new agreement with DnB and Nordea. This new long-term financing has resulted in a strengthening of the company's cash balance with net NOK 137 mill.

Increased revenues of NOK 78.3 million, up from NOK 67.9 million last year, is mainly due to the addition of the new well boat, Ronja Polaris, which came into operation in October 2013. The operation profit was NOK 25.8 million, an increase of 2 % from last year.

"We have during the first quarter laid a good foundation for the remainder of the year. We have had five vessels at yards conducting regular maintenance and certification work. Now I look forward to taking delivery of our new vessel Ronjafisk in the third quarter. We continue to have a strong focus on efficient operations of the vessels, which is essential for creating good results", says Roger Halsebakk, CEO of Sølvtrans.

The utilization rate for the first quarter ended at 94 %, which is the same as in the first quarter last year.

The construction of Ronjafisk goes according to plan, and the delivery of the vessel will take place during the autumn this year.