Q2 2026 Bonheur ASA Earnings Call Transcript
Key Points
- Bonheur ASA (FRA:V7P) reported a significant increase in EBITDA, nearly doubling from the previous year, driven by higher power prices in Sweden and the UK.
- The company achieved an 8% improvement in wind generation year-on-year, despite the Midhill wind farm outage.
- Crystal Rig 4 wind farm was successfully completed and is now operational, contributing to increased production.
- Fred Olsen Cruise Lines reported improved occupancy and higher booking numbers, indicating strong demand and future growth potential.
- The company maintains a strong balance sheet with significant cash reserves and minimal debt, enhancing financial stability.
- The Midhill wind farm outage negatively impacted results, and the outage is expected to extend further due to grid operator delays.
- Wind service segment results declined year-over-year, affected by lower utilization and currency fluctuations.
- The Brave Turn incident in SVAG harbor resulted in commercial downtime and additional costs, impacting the wind service segment's performance.
- Currency fluctuations, particularly the stronger Norwegian krone, negatively affected the cruise lines' EBITDA compared to the previous year.
- Lista wind farm is operating at reduced capacity due to fatigue-related foundation issues, requiring ongoing repairs into 2027.
Good day and thank you for standing by. Welcome to the Bonheur ASA Q2 2026 Results Conference. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Anette Sofie Olsen, CEO. Please go ahead.
Good morning, everybody, and welcome to the second quarter presentation for Bonner. It's a beautiful day here in Oslo today, so hopefully you will be pleased with the presentation as well.
I will now give the word to Ricard Ullauro.
CFO in Bonnar. Go ahead, Rick.
Yes, thank you, Annette. And also a hearty good morning from me.
We are now the second quarter presentation is characterized by very solid underlying performance. We have two items that are impacting themselves in a negative direction. It's the outage of the Midhill wind farm.
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