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    EIOF   NO0010263023

EIDESVIK OFFSHORE ASA

(EIOF)
  Report
Real-time Quote. Real-time Oslo Bors - 01/14 10:25:46 am
5.34 NOK   -1.11%
01/12EIOF - Enters into Memorandum of Agreement for sale of the CSV Viking Neptun
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2021EIDESVIK OFFSHORE : Notifiable trading
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2021EIOF - Notifiable trading
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

EIOF - Report for 3rd Quarter 2021

11/17/2021 | 11:02am EST
Eidesvik Offshore ASA ("Eidesvik" or the "Company") reports its results for the
3rd Quarter 2021. The report is attached to this notification and available for
download from the Company's website https://www.eidesvik.no.

HIGHLIGHTS IN 3rd QUARTER 2021
- Consolidated EBITDA of MNOK 81.5, compared to MNOK 59.8 in 3rd Quarter 2020
- Contract with Havfram for Viking Neptun
- Contract with Aker BP for Viking Lady
- Completed final agreements for refinancing of debt

SUBSEQUENT EVENTS
- Entered into a cooperation agreement with Wärtsila aimed at converting an OSV
to operate with an ammonia-fuelled combustion engine
- Contract extension with Wintershall Dea for Viking Princess
- CEO and President of Eidesvik, Jan Fredrik Meling will retire from his
position on December 31, 2021. The Company's CCO Gitte Gard Talmo was appointed
to replace Meling
- Entered into a Memorandum of Understanding with Aker BP and Alma to explore
opportunities for retrofit installation of Alma's ammonia fuel cell technology
on Viking Lady and NS Frayja

FINANCIAL RESULTS
In the 3rd Quarter 2021 Eidesvik had consolidated operating income of MNOK 174.8
(MNOK 142.7 in the corresponding period in 2020). Operating result before
depreciations (EBITDA) was MNOK 81.5 (MNOK 59.8, whereof MNOK 4.8 was related to
one-off effects). Operating result (EBIT) was MNOK 1.0 (MNOK 11.2). Result from
joint ventures and associated companies was MNOK -0.1 (MNOK 4.0). Net financial
items were MNOK -35.7 (MNOK 16.9). Result after tax amounted to MNOK -34.7 (MNOK
28.3).

Bømlo, November 17, 2021

Contacts:
CEO Jan Fredrik Meling (+47 916 75 119)
CFO Tore Byberg (+47 475 09 012)


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
AKER BP ASA 0.82% 294.1 Real-time Quote.8.28%
EIDESVIK OFFSHORE ASA -1.11% 5.34 Real-time Quote.31.20%
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Financials
Sales 2020 510 M 58,3 M 58,3 M
Net income 2020 -124 M -14,1 M -14,1 M
Net Debt 2020 1 754 M 200 M 200 M
P/E ratio 2020 -1,53x
Yield 2020 -
Capitalization 332 M 37,9 M 37,9 M
EV / Sales 2019 3,85x
EV / Sales 2020 3,81x
Nbr of Employees 420
Free-Float 17,0%
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Managers and Directors
Jan Fredrik Meling President & Chief Executive Officer
Tore Byberg Chief Financial Officer
Arne Austreid Chairman
Vermund Hjelland Vice President-Technology & Development
Jan Lodden Chief Operation Officer