Fred Olsen’s offshore wind business has posted a 2015 pre-tax loss of Nkr142m compared with a gain of Nkr22m in 2014.
The company suffered a drop in revenues to Nkr1.05bn from Nkr1.53bn in the previous year.
The net loss from operating activities was Nkr70m, compared with a net gain of Nkr558m in 2014.
Businesses in the segment include Windcarrier, Universal Foundation and Global Wind Service.
Revenues from jack-up vessels Brave Tern and Bold Tern were down due to “lower utilization following delays in construction of several offshore wind farms and increased competition from oil service vessels”.
Onshore, Fred Olsen Renewables posted pre-tax earnings of Nkr192m, compared with a loss of Nkr74m in 2014.
Revenues were Nkr1.2bn, up from Nkr812m in the previous year.
Image: Fred Olsen at work in the North Sea (EWE)
