Eidesvik Offshore’s contract backlog is nearing NOK 1bn ($188m) as the Norwegian company boasts a fully booked 2024.
The company — based on the west coast of Norway — has all 13 of its vessels in the supply, subsea and offshore wind spaces fixed through the end of the year.
Chief executive Gitta Gard Talmo voiced a “strong sense of optimism for the future”.
“The long-term market outlook is positive across all our operational segments,” she said in the fourth-quarter earnings release published on Wednesday.
The company added that the platform supply vessel market had favourable fundamentals, subsea companies had record backlogs and the offshore wind industry saw all-time high funding investment decisions in 2023.
For the last three months of 2023, Eidesvik Offshore reported a NOK 104m profit on the back of NOK 194m in revenue.
Utilisation held steady year over year at 96%, with the supply segment hitting 100%, up from 97%.
In the subsea and offshore sectors, utilisation was 90%, down from 95% in the fourth quarter of 2022.
Both top and bottom lines were lower than the fourth quarter of 2022, but were boosted by impairment charges the company reversed in 2023.
For that period, the company posted a NOK 355m profit and NOK 434m in revenue.
For the full year of 2023, it made NOK 537m, up from NOK 407m, even as revenue dipped to NOK 772m from NOK 919m.
In early trading in Oslo, Eidesvik Offshore shares had risen NOK 0.14 to NOK 13.44m.
