31.08.2020
Financial report for the 2nd quarter 2020
Revenues for the second quarter of 2020 was MNOK 1,332 vs MNOK 1,372 in 2019, while EBITDA (adjusted) for the second quarter was MNOK 411 vs MNOK 440 in 2019
- Stable operational performance during the quarter
- Impairment of MNOK 960 in the quarter mainly driven by postponed market recovery
- Adjusted EBITDA improvement of MNOK 31 in 1H 2020 (MNOK 694 vs MNOK 663) compared to 1H 2019
- On May 8th, 2020, Solstad signed a Restructuring Implementation Agreement with a vast majority of its creditors for a financial restructuring of the Group
- There is a risk that COVID-19 pandemic and the low oil price will affect the Company’s performanc
Skudeneshavn, August 31st, 2020
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89
Solstad Offshore ASA
www.solstad.com