A2Sea: Declining daily rates will impact 2015 result

Danish offshore carrier A2Sea made a USD 34.4 million net result after taxes and, as expected, the carrier experienced a slight setback compared to the year before. Management projects a lower result for 2015 due to declining daily rates.

Daily rates for specialized vessels servicing the offshore wind industry with wind turbine installations have declined and this will put pressure on earnings in 2015, says offshore carrier A2Sea, which is owned by Siemens and Dong Energy, and which just published its annual report for 2014.

For 2014 A2Sea delivered a net result after taxes of USD 34,4 million, down from USD 40.6 million in 2013. The carrier's net revenue came to around USD 154.4 million, compared to USD 177.9 million. The sliding revenue is mainly attributable to part of the fleet shifting from installation work to service and remedial work, says management in the annual report.

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