Danish offshore wind operations and maintenance provider Ziton is toasting a bumper profit for 2024.
The company’s newly-published annual report shows earnings before interest, tax, depreciation and amortisation (EBITDA) surged to €57.1m.
This marks a €21.2m increase on the €35.9m EBITDA recorded in 2023.
Ziton specialises in major component replacements (MCRs) at offshore wind farms and operates a fleet of six jack-up vessels, including three that can service 10MW turbines.
The company said 2024 was a year of significant financial improvement.
A Ziton spokesperson said: “With 247 major component replacements completed – an industry record – our operational performance was the main driver of this financial success.
“This was largely due to the introduction of (jack-up) Wind Energy and the growing demand for our full-service solutions, leading to strong utilisation of our smaller vessels.”
To date, the company has completed over 1850 MCRs at 84 wind farms across eight countries in northern Europe.
Chief executive Thorsten Jalk said: “With such a robust fleet, we can offer our customers flexibility and versatility, enabling us to service virtually every offshore wind farm in the northern Europe, ranging from 2MW to 10MW turbines.
“Looking ahead, we are committed to further investing in larger vessels to meet the growing demands of the offshore wind industry.”
He added: “To date, we have successfully repaired turbines with a total capacity of 6.2GW, a remarkable achievement that underscores Ziton’s essential role in enhancing energy security for Europe.”
In January this year, Macquarie Asset Management, through Macquarie European Infrastructure Fund 7, completed the acquisition of Ziton.