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11/28/2019 | Press release | Distributed by Public on 11/28/2019 01:00

Financial Report 3rd quarter for DOF Subsea

Financial Report 3rd quarter for DOF Subsea

The Group's operating income for the 3rd quarter (management reporting) was NOK 1,458 million (NOK 1 184 million in Q3 2018) and the operating profit before depreciation and impairment (EBITDA) was NOK 545 million (NOK 376 million). The average utilisation of the Group's fleet during the 3rd quarter was 78%; 80% for the Subsea/IMR Project fleet and 72% for Long-term Chartering fleet. At the end of the 3rd quarter, the Group had a firm backlog of NOK 13,7 billion. Please see enclosed the 3rd quarter 2019 Financial Report and presentation. For further information, please contact: Mons S. Aase, CEO, DOF Subsea - Tel: +47 91 66 10 12 Marianne Møgster, SVP Finance, DOF Subsea - Tel: +47 99 30 69 16 About DOF Subsea: The DOF Subsea Group is a specialist subsea service business that provides subsea construction, subsea engineering, inspection, repair and maintenance and survey services, which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction, intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships, which enhance service delivery and reduce the overall risk. The company's core business is project management, engineering, vessel operations, survey, remote intervention and diving operations, primarily for the Oil and Gas, Marine Telecommunications and Renewables markets. www.dofsubsea.com