The Group's revenue for 3rd quarter (management reporting) totals NOK 2,052 million (NOK 2,027 million) and EBITDA totals NOK 865 million (NOK  879 million). Including in EBITDA is gain on sale of vessels of NOK 44 million (NOK 12 million). The operating profit (EBIT) is NOK 488 million (NOK -46 million), of which depreciation and impairment totals NOK 377 million (NOK 925 million). Net profit is NOK -128 million (NOK - 406 million).

Key information:

Operations:
- Average utilisation of the fleet 83% (71%)
- High utilisation in all segments
- Good performance from the subsea regions
- The total fleet includes 59 vessels (eight on management or hired in)
--  15 AHTS, 14 PSV and 30 Subsea vessels
--  Two vessels agreed sold with delivery in 2022
--  One vessel in lay-up

Finance:
- The dialogue with the lenders concerning a robust long-term financial solution has had progress during 3rd quarter. The discussions continue, and there are important issues pending, hence the outcome of the restructuring process is still uncertain.
- The current standstill agreements with the banks and bondholders mature on 30th November.
- DOF Subsea has during the quarter repaid a loan facility at a substantial discount.

Backlog
- Order intake NOK 2.8 bn in 3rd quarter
- Total backlog NOK 15 bn

Please see enclosed 3rd quarter Financial Report 2021.
>>> Financial Report 3rd quarter for DOF ASA (PDF)

Webcast is available Wednesday, 10th of November 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