Rem Offshore Group, which was re-established in 2016, announced its best annual report since the restart. Both revenue and profit were significantly higher than 2022 and previous years.

The Group achieved a revenue of NOK 1,279,581,000 in 2023. EBITDA (operating profit before depreciation) was NOK 773,821,000 and profit after tax was NOK 342,531,000. Rem Offshore had 19 ships in operation in 2023, achieving a total utilization rate of 95%.

The Group has a solid financial foundation with significant added value in its fleet and is well-prepared for further revenue growth and expansion in a strong market.

The positive development has continued in 2024, and in the first quarter of 2024, record-high revenue of NOK 388,539,000 was achieved, with EBITDA of NOK 244,858,000 and profit after tax of NOK 88,879,000. After selling the ship Rem Aquarius in December 2023, Rem Offshore had 18 ships in operation in Q1 2024 with a utilization rate of 97%.

The new vessel Rem Wind was delivered in April, and as of today, Rem Offshore has 19 ships in operation and 1 ship under construction.

We are also pleased to have secured more work for the IMR vessel Rem Inspector. We have entered into a 3-year agreement with DOF, where the vessel will be used in an IMR contract with Equinor. The contract starts in Q1 2025. As a result, we will re-flag the ship to NOR and bring it home from Taiwan, where it has been operating within offshore wind (walk-to-work)

The total backlog for Rem Offshore is nearly NOK 3.5 billion, with an equivalent amount in options.