DOF ASA News
Financial Report 3rd quarter for DOF ASA
The Group's operating income for 3[rd]quarter (management reporting) totals NOK 2,057 million (NOK 1,739 million) and the operating profit before depreciation and impairment (EBITDA) totals NOK 759 million (NOK 535 million). The Ebitda adjusted for hedge accounting is NOK 803 million (NOK 587 million). Total impairments of NOK 917 million (NOK 124 million) have been booked in the period, hence the operating profit (EBIT) is negative with NOK -503 million (NOK 106 million).
The average utilisation of the Group's fleet during the 3rd quarter was 82%; 81% for the subsea fleet, 75% for the AHTS fleet and 94% for the PSV fleet.
Improved earnings and utilisation in all segments during the quarter reflecting increased activity, however still challenging markets for the AHTS and Subsea IMR fleet.
The Group's backlog is NOK 20 billion.
A long-term refinancing solution is in process with the target to be completed before year end.
Per November DOF ASA owns 100% of the shares in DOF Subsea AS.
Please see enclosed 3rd quarter Financial Report 2019
Webcast is available Thursday, 28th November 2019 at 08:30 on www.dof.com.
CEO Mons Aase, Tel + 47 91 66 10 12
CFO Hilde Drønen, Tel + 47 91 66 10 09