Rem Offshore Holding has released its 2024 financial statements, showing an increase in revenues from NOK 1.38 billion in 2023 to NOK 1.82 billion in 2024. EBITDA increased from NOK 774 million in 2023 to NOK 1.15 billion in 2024. The group’s net profit increased from NOK 343 million in 2023 to NOK 667 million in 2024.
The positive development for Rem Offshore continued throughout 2024. The company’s vessels were awarded several competitive contracts during the year, with a vessel utilization rate of 94%. The group is growing both in terms of fleet size and number of employees. By the end of 2024, the company’s fleet consisted of 21 modern vessels within the renewable energy, subsea, oil service, and seismic segments. This includes 3 newbuilds contracted in 2024: two zero-emission 250-ton subsea vessels and one low-emission walk-to-work vessel, to be delivered in 2026 and 2027. The company employs around 750 people, including approximately 700 seafarers and 47 onshore staff based at the headquarters in Fosnavåg and the fully integrated branch office in Varna, Bulgaria.
Growth continues into the current year, and the market outlook for the company is positive. All company’s vessels are currently in operation, and recently Rem Offshore signed a 3+2-year contract for the wind vessel Rem Energy, a 1-year extension for the seismic vessel Rem Andes, and a 1-year extension for the supply vessel Rem Arctic. Together, they contribute to an increase in the order backlog of over NOK 1 billion. As of June 2025, the group has an order backlog of NOK 5.5 billion in firm contracts. Including options, the backlog totals NOK 8.5 billion.
Earlier this spring, the company sold the supply vessel Rem Supporter with a profit of approximately NOK 250 million. The company’s newbuilding program is fully financed.
Rem Inspector has recently commenced a 3-year contract with DOF and Equinor for maintenance services on the Norwegian continental shelf. The vessel has been upgraded and outfitted to support Equinor’s requirements for IMR-work on the Norwegian Continental Shelf, and Friday last week she sailed out of Ågotnes with crew and client representatives to initiate the first ROV inspection works.