Vroon Holding B.V.

Vroon has announced a significant improvement in its financial position for the year 2023 with a 465% increase in equity from –51m USD in 2022 to 186m USD as of 31 December 2023. The same period also saw the successful completion of the restructuring of the international shipping company’s debt with a 64% reduction from 884m USD to 314m USD.

These positive trends were also reflected with a 19% (20m USD) improvement in Vroon’s trading result for 2023 compared to the previous financial year. The net result of -57mUSD over 2023 was still largely affected by the one-off expenses associated with the debt-restructuring.

More specifically, Vroon successfully completed the sale of 39 vessels in 2023, including its fleet of 37 offshore support vessels in the second half of the year. However, it also expanded its fleet of livestock carriers with a new investment in December 2023.

The outlook for Vroon looks promising with the recovery in the shipping markets expected to continue. In addition, the focus for 2024 is to maintain trading margins, and simplify the legal and organisational structure of the business to realise efficiencies that will support profitability.

“After taking all internal and external factors into consideration, the 2023 financial year was positive in terms of the improvements made to Vroon’s equity and debt,” says Vroon’s CEO Martijn Schouten. “Supported by a strong strategic focus on our key markets in 2024, we are looking forward to developing our fleet and reporting on solid financial results, including a chasing growth opportunities and expansion.”

Press contact: Christopher Savoye

Christopher.savoye@vroon.nl

+31 76 2068 100