DOF ASA News
Financial Report 4th quarter 2017 for DOF ASA
Group operating income in Q4 (management reporting) totals NOK 1,995 million (NOK 1,912 million), and Ebitda totals NOK 610 million (NOK 695 million). Ebitda adjusted for hedge accounting was NOK 649 million (NOK 738 million). Ebit totals NOK -15 million (NOK -21 million), including depreciation and impairment of NOK 625 million (NOK 717 million).
Group operating income YTD (management reporting) totals NOK 7,376 million (NOK 8,569 million) and YTD Ebitda NOK 2,287 million (NOK 2,986 million).
The Group completed a refinancing in December including a private placement of NOK 500 million in the Company which was utilized to increase the ownership in DOF Subsea from 51% to 65%. The Group has further agreed extension of maturity of the DOFSUB07 bond with two years and soft terms on the DOF Rederi NOK 3,8 bn facility until end of maturity in 2021. A subsequent offering of NOK 202 million has been completed in February 2018.
The average utilisation of the Group's owned fleet in Q4 was 76% ; subsea fleet 80%, AHTS fleet 67% and PSV fleet 82%. The Group had by end of the year five vessels in lay-up.
Skandi Darwin started on a 5-year contract with Shell at the Prelude field outside Australia.
Current backlog totals NOK 23 billion of which NOK 5 billion represent firm backlog in 2018.
Please see enclosed Q4 Financial Report 2017.
>>> DOF ASA Q4 2017 Financial Report (PDF)
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CEO Mons Aase, Tel + 47 91 66 10 12
CFO Hilde Drønen, Tel + 47 91 66 10 09