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Financial Report 2nd quarter 2017 for DOF ASA

Group operating income in Q2 (management reporting) totals NOK 1,903 million (NOK 2,439 million), and Ebitda totals NOK 631 million (NOK 760 million). Ebitda adjusted for hedge accounting was NOK 671 million (NOK 815 million). Ebit totals NOK 62 million (NOK 222 million), including depreciation and impairment of NOK 570 million (NOK 538 million).

Group operating YTD (management reporting) totals NOK 3,580 million (NOK 4,621 million) and YTD Ebitda NOK 1,114 million (NOK 1,563 million).

The average utilisation of the Group's owned fleet in Q2 was 72%; the subsea fleet 66%, the AHTS fleet 69% and the PSV fleet 85%. The Group had by end of the quarter six vessels in lay-up.

The PLSV newbuild Skandi Buzios, owned by DOF Subsea and TechnipFMC, started its 8-years contract with Petrobras in April.

Skandi Vinland was delivered in June and has started on its 10-years contract with Husky Energy in Canada.

The Group has been awarded several contracts during the quarter securing a strong backlog in 2nd half 2017 (70%).

Current backlog totals NOK 25 billion.

Please see enclosed Q2 Financial Report 2017.
DOF ASA Q2 2017 Financial Report - English (pdf)

Webcast is available Wednesday 23.08.2017 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