Financial report for the 4th quarter 2018

28-02-2019 03:10 pm

  • Revenues for the full year of 2018 was MNOK 4,830 vs MNOK 3,776 in 2017, while EBITDA amounted to MNOK 1,017 vs MNOK 983 in 2017
  • Impairment of book value of vessels results in a write down of MNOK 2,046 for Q4 2018 and MNOK 2,896 for the full year
  • Year-end equity negative with MNOK 631
  • Revenues for Q4 2018 was MNOK 1,192 and EBITDA MNOK 247
  • The Company’s combined cash position increased by MNOK 21 to MNOK 1,351 during Q4 2018
  • Market recovery is slow and charter rates are not at sustainable levels
  • Agreement with certain financial creditors to suspend and defer payments of principal and interest until June 20th, 2019, while negotiations with financial creditors and other stakeholders continue

The full Q4-2018 report is enclosed, together with the full restated Q3-2018 report as communicated on January 23rd, 2019.

Skudeneshavn, February 28th, 2019

Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Anders Hall Jomaas CFO, at +47 40 04 29 18

Solstad Offshore ASA
www.solstad.com

This information is subject of the disclosure requirements according to the Norwegian Securities Trading Act section § 5-12.

SOFF Q3 2018 report

SOFF Q4 2018 report