Q4 2025 Bonheur ASA Earnings Call Transcript
Key Points
- Bonheur ASA (STU:V7P) reported continued growth in earnings despite significant assets like the Mid-hill Wind Farm and the installation vessel Brave Turn being idle for the full quarter.
- The company completed a major transaction with long-term partner MEAG, enhancing strategic opportunities in the renewables sector.
- Fred Olsen Cruise Lines achieved a record fourth-quarter booking performance, indicating strong future occupancy rates.
- The board proposed a dividend increase to 730 per share, approximately $310 million, reflecting a healthy growth from the previous year's dividend.
- The company's balance sheet remains strong, with equity in the parent company growing from approximately 1.8 billion to 8.7 billion year over year.
- Renewable energy segment saw a decrease in EBITDA from $587 million to $444 million, primarily due to the absence of a $160 million insurance claim booked in the previous year.
- Several wind farms experienced outages, including the Mid-hill Wind Farm, which faced grid-related issues affecting production.
- The construction project Windy Standard 3 faces potential delays due to new regulations affecting turbine component transportation.
- Fred Olsen Renewables reported an 8% decrease in production compared to the same quarter last year, impacted by grid outages and constraints.
- The cruise line segment, while showing improvement, still has occupancy rates below optimal levels.
It's.
This is What else have had are the you know the 7.
It's poison every morning.
So.
Our CFO will present to you the main figures and the overall picture, and then the CEOs for the different companies will present their companies.
Today we have with us a new CEO.
Marlaiel Lundbe, she has taken over the responsibility for Fred Olsen, Sewin.
So partly welcome to Mar and you will meet her a little bit later.
Okay, good morning, everybody.
It's Anna Hartley, welcome to the 4th quarter presentation for Bonner.
2025.
My name is Annette Olsen. I'm the CEO of Bonner.
Today, we will do the presentation as usual, where Ricard Ula or, our CFO will present to you the overall figures.
And we will then move to presentations by each individual CEO for the underlying companies.
We have today a new CEO.
That we will present to you.
She has been with us for a bit of time
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