The Group's revenue for 2nd quarter (management reporting) totals NOK 2,003 million (NOK 1,802 million) and the EBITDA totals NOK 680 million (NOK 701 million). The operating profit (EBIT) is NOK 148 million (NOK -354 million), of which depreciation and impairment totals NOK 531 million (NOK 1,056 million). Net profit is NOK 580 million (NOK -675 million).

The average utilisation of the Group's owned fleet during the 2nd quarter 2021 was 80%; versus 70% the same period last year

Operations:
- The markets have continued to be challenging
- High activity in the subsea project segments and mobilisations have impacted the cash flow in the quarter
- Still challenging operations due to COVID-19, but the situation in Brazil has improved
- 3 vessels in lay-up (one owned) versus 12 in lay-up the same period last year
- 1 vessel sold, and 1 vessel recycled in the quarter
- Current backlog is NOK 13.2 billion, and in addition NOK 1,7 billion is secured after end of period

The Group has continued the discussions with the lenders on a long-term refinancing solution for the Group. The current standstill agreements with the secured lenders and bond holders mature on 31 August.

Please see enclosed 2nd quarter Financial Report 2021.
»>DOF ASA Q2 financial report 2021 (PDF)

Webcast is available Tuesday, 24th of August at 08:30 on www.dof.com.

Contact:
CEO Mons Aase, Tel + 47 91 66 10 12
CFO Hilde Drønen, Tel + 47 91 66 10 09

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DOF ASA published this content on 24 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 06:13:02 UTC.