Norske Viking I faces liquidity challenges, reports Q2 loss

Norske Viking I AS, a subsidiary of Norske Fibre AS, reported an unaudited pre-tax loss of NOK 13.9 million for Q2 2025, with revenues reaching NOK 3.77 million, a 93.0% increase from the previous year. The company’s cash holding stood at approximately NOK 6.5 million as of June 30, 2025. Significant uncertainty remains regarding the company’s ability to continue as a going concern due to liquidity challenges.

The company is involved in public tenders for dark fiber between Bergen and Trondheim, with decisions now expected by the end of 2025, causing delays in anticipated revenue streams. Additionally, a major telecommunications customer is expected to exercise an option for additional fiber pairs by early Q4 2025, which, if realized, would provide one-time and recurring revenues.

Norske Viking I AS has an outstanding bond of NOK 130 million maturing in October 2025. The bond terms were renegotiated in April and July 2025, extending the maturity date to October 5, 2025. The board is actively seeking refinancing solutions and believes the financial outlook remains solid, contingent on timely implementation of a refinancing solution and realization of expected revenue streams.