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    SOFF   NO0003080608

SOLSTAD OFFSHORE ASA

(SOFF)
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Solstad Offshore : Contract for CSV Normand Ocean

06/02/2021 | 02:59am EDT

Solstad Offshore ASA ("Solstad") is pleased to announce a new contract for the CSV Normand Ocean with DeepOcean AS. The vessel will be utilized on DeepOcean`s IMR and light construction projects in the North Sea.

Normand Ocean has been on contract to DeepOcean since 2014 and with the new contract the vessel will be on firm contract to end of 2023. In addition, there is an option to extend the contract with one more year.

As part of Solstad and DeepOcean`s common goals to reduce CO2 emissions the Normand Ocean will be upgraded with a 1MWh battery system and shore power connection. This will allow the vessel to operate with same efficiency but with less emissions.

Through this agreement Solstad and DeepOcean are committed to jointly explore and initiate new steps to reduce emissions further by utilizing new technology that will be available over the next years.

Skudeneshavn, June 2nd , 2021

Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA
www.solstad.com

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

http://publish.ne.cision.com//Release/ViewReleaseHtml/BB497F1D3002CA44E0C856B0705FC7D6

https://mb.cision.com/Main/16896/3359166/1426506.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 4 844 M 549 M 549 M
Net income 2020 7 241 M 820 M 820 M
Net Debt 2020 18 208 M 2 063 M 2 063 M
P/E ratio 2020 0,10x
Yield 2020 -
Capitalization 473 M 53,7 M 53,5 M
EV / Sales 2019 6,23x
EV / Sales 2020 3,91x
Nbr of Employees 3 528
Free-Float 33,9%
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Managers and Directors
Lars Peder Solstad Chief Executive Officer
Kjetil Ramstad Chief Financial Officer
Harald Espedal Chairman
Tor Johan Tveit Chief Operating Officer
Olaug Hillesland Administration & Communication Director
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