DOF ASA News
Financial Report 4th quarter for DOF ASA
The Group's operating income for 4th quarter (management reporting) totals NOK 1,704 million (NOK 1,995 million) and the operating profit before depreciation and impairment (EBITDA) totals NOK 493 million (NOK 610 million). The Ebitda adjusted for hedge accounting is NOK 546 million (NOK 649 million) and the operating profit (EBIT) is NOK -186 million (NOK -15 million), of which depreciation and impairment totals NOK 679 million (NOK 625 million). YTD Revenue totals NOK 6,938 million (NOK 7,376 million) and Ebitda totals NOK 2,066 million (NOK 2,287 million) and YTD Ebit totals NOK 89 million (NOK -180 million).
The average utilisation of the Group's fleet during the 4th quarter was 72% ; 69% for the subsea fleet, 65% for the AHTS fleet and 87% for the PSV fleet.
The market has improved for the North Sea PSV fleet, and the utilisation and earnings have been variable for the AHTS fleet and the subsea IRM fleet. Solid uptime on the PLSVs operating on long term contracts in Brazil.
The Group's backlog by February 2019 is NOK 21 billion.
DOF Subsea completed a new 5-year unsecured bond of NOK 900 million in November.
The Group has by January 2019 completed its newbuilding program after delivery of DOFCON's newbuild, Skandi Olinda (PLSV). The vessel was on-hire on its 8-year contract with Petrobras in February.
Please see enclosed 4th quarter Financial Report 2018.
>>> DOF ASA Q4 Financial Report 2018 (PDF)
Webcast is available Friday, 22nd February 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