o	Fjord1 has operated in a safe and responsible manner throughout the Covid-19
pandemic, protecting the safety and security of its employees, customers and
suppliers while fulfilling its responsibilities as a provider of critical
transport infrastructure in coastal Norway. 
o	Revenue in the second quarter amounted to NOK 708 million, a decrease of 6 per
cent from the same quarter last year. The reduction is attributable mainly to
the phasing out of the Molde-Vestnes contract.
o	EBITDA in the second quarter was NOK 190 million, down from NOK 245 million in
the same period last year. The EBITDA margin declined to 27 per cent from 33 per
cent in the same quarter last year, reflecting lower revenue and higher
maintenance cost in Ferry, and continued weak results in the Tourism segment due
to international Covid-19 travel restrictions.
o	Investments amounted to NOK 81 million in the second quarter, and net
interest-bearing debt (NIBD) declined to NOK 5,206 million per 30 June.
o	Fjord1's long-term contract portfolio, worth NOK 22.7 billion, together with
our long-term ambitions for the Tourism segment provide a solid base for further
development of the company.

Revenue for the first half year was NOK 1,399 million (1,503), and the EBITDA
NOK 387 million (439). 

"Operations were stable throughout the first half year, although with higher
maintenance costs in Ferries and a Tourism segment which continues to be
affected by international Covid-19 travel restrictions. Investments are coming
down from the peak in 2020, even though we continue to move forward with our
electrification projects. We have reduced net debt by more than NOK 600 million
over the past year and will use our cash flow from operations and proceeds from
sale of infrastructure assets to reduce interest-bearing debt further in the
second half of the year," says CEO Dagfinn Neteland in Fjord1.

Outlook
Fjord1 is confident that there will continue to be a strong demand for safe,
environmentally friendly and reliable transport in coastal regions in the future
and is assessing new tender opportunities both in the Norwegian and in
international markets. Fjord1's strong contract portfolio is worth NOK 22,7
billion through 2034, excluding options and index regulation, which offers a
solid platform for profitable growth.
Fjord1 expects a stable outlook for the remainder of 2021, while allowing for
the seasonal variations between the two remaining quarters of the year. 
Fjord1 has a strong operational cash flow, and combined with lower investments
and proceeds from sale of infrastructure assets this will be used to reduce
interest-bearing debt further in the second half of the year.

Please find enclosed the interim report for the second quarter and first half
2021. The material is also available on
https://www.fjord1.no/eng/Investor-Relations/Annual-reports-and-press-releases/R
eports/Reports-2021.

Contacts 
CEO Dagfinn Neteland, Fjord1 ASA 
dagfinn.neteland@fjord1.no  
+47 913 71 071 

or

CFO Anne-Mari Sundal Bøe, Fjord1 ASA
anne.mari.sundal.boe@fjord1.no  
+47 902 78 906

About Fjord1 
Fjord1 aims to be the safest and most attractive provider of environmentally
friendly and reliable transport for customers, clients and partners. Fjord1 is a
leading player in the Norwegian ferry market, with close to 80 ferries. The
company also operates passenger boat services and has interests in the catering
and tourism industries. 

More information at www.fjord1.no