28.11.2019

Financial report for the 3rd quarter 2019

Revenues for the third quarter of 2019 was MNOK 1,480 vs MNOK 1,404 in 2018

• Adjusted EBITDA for the third quarter was MNOK 504 vs MNOK 431 in 2018
• Equity per September 30th negative with MNOK 2,657
• The Company experiences a positive effect from having a large and versatile fleet of vessels, leading to numerous contract awards world-wide  
• The activity level in the market shows some signs of improvement, but a challenging winter season is expected in the North Sea  
• Agreement with the majority of financial creditors to suspend and defer payments of principal and interest extended until March 31th, 2020

Skudeneshavn, November 28th, 2019

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