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Posted on 26-04-2023

Financial Result 2022

Søby Shipyard announces a record-breaking Financial Result for 2022

The Annual Report has been presented and adopted at the Company's Annual General Meeting on 25 April 2023

In 2022, the shipyard's only newbuilding activity was building a new environmental barge of aluminum for the company Flex-Feb. During 2022, the main activity was within the repair segment, in which the Company managed to keep a steady and high occupancy during the entire year due to active sale and customer targeting work. The revenue is especially impacted positively by 2 large docking projects and the installation of more than 15 ballast water treatment systems. Therefore, the activities have increased by approx. 36% compared to 2021.

It is very positive that the realized results for the period are 6.5 times higher than expectations. The main reason is to be found in the circumstances described above. A high and steady utilization of the shipyard's capacity and the 2 larger docking projects we have carried out throughout the year.

In 2023, no major docking projects are budgeted, nor a large number of ballast water  installations, so the result for 2023 is expected to be DKK 2.0 - 4.0 million which is still positive, but at a significantly lower level than what we have realized in 2022. The activities and results in the first 3 months of 2023 has been in line with what has been budgeted for the period and there is therefore an expectation that the yard can maintain a similar high and stable level of activity as in 2022.

The company regularly receives inquiries for new buildings and major rebuilds, in addition to the repair activities.

The full Financial report can be found HER

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Søby Shipyard