14 shipping companies raised EUR 91 million for operations.
Rostein has tightened its grip in Norway’s, and also the world’s largest wellboat shipping company. Both sales growth rates and operating margins still remain at levels that most other shipping segments can only dream of.
Simple souls
“We rounded off 2019 with record numbers. I suspect that we are the only wellboat company that has ever passed a billion (EUR 93.5 million .ed) in turnover, and actually I believe once again we are biggest when it comes to wellboats, but that is of little importance to simple souls like us. Our passion is the construction and operation of wellboats and the figures are really only a result of what we are concerned about seems to be working well,” Rostein vice president Glen Bradley told SalmonBusiness.
It was rival Sølvtrans that made it sharpest results-wise in 2019. Of each hundred traded, the company earned almost EUR 50 on operations.
In court
The harvest vessel “Norwegian Gannet” has moved in quite a bit in this space in the past three years. However, last year, was notable. Owner company, Hav Line, won the lawsuit against the state in Bergen District Court, Norway, earlier this year.
Another wellboat company worth noting is Mowi-controlled DESS Aquaculture Shipping. Although the company posted a negative operating result last year, net financial income ensured that the bottom line ended at EUR 30.6 million. The company has not prepared consolidated financial statements for the past year.
“For information, DESS Aqua in 2019 under the Accounting Act was still defined as a small company, and we were therefore not required to prepare consolidated accounts for 2019. From 2020 we fall under the definition of normal undertaking with a duty to provide consolidated financial statements, and therefore this will be prepared and published when the 2020 figures are to be submitted,” explained Chief Financial Officer Anders Hall Jomaas to SalmonBusiness.
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For sale
Main owner and major customer Mowi stated in connection with the presentation of its second-quarter results, that the company’s 50 per-cent ownership of the company is planned on being spun off.
According to the annual report, DESS Aquaculture Shipping had assets at year-end at EUR 150 million.
In total, wellboat shipping companies reported here in SalmonBusiness had a turnover of EUR 353 million last year. Total operating profit came to EUR 91 million.
