12.02.2025

Solstad Offshore ASA: Fourth-quarter and full-year 2024 results

· Solstad Offshore reports an adjusted EBITDA of NOK 436 million in Q4 and NOK 1,379 million for the full year 2024

· Net Result of NOK 1,283 million for the full year 2024

· The book equity increased with NOK ~1.3 billion in 2024 to NOK ~3.1 billion year end 2024

· Settlement of the Maximus Residual Claim reduced the Company’s interest-bearing debt with NOK ~1 billion

· Investment in Omega Subsea – further strengthening Solstad Offshore’s position in the subsea services segment

· Solstad Offshore intends to initiate quarterly dividend in 2H 2025

· Solstad Offshore is guiding an adjusted EBITDA 2025 of NOK 1.3-1.6 billion

· Solstad Maritime, where Solstad Offshore holds 27,3%, reports an adjusted EBITDA of NOK 799 million in Q4 2024 and NOK 3,234 million for the full year 2024

· Net Result of NOK 2,637 million for the full year 2024

· Intends to distribute dividend for Q4 2024 of NOK 0.50 pr share

· Solstad Maritime is guiding an adjusted EBITDA 2025 of NOK 3.9-4.2 billion

Solstad Offshore Q4 2024 presentation

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Skudeneshavn, February 12th, 2025

Contacts

Lars Peder Solstad CEO, at +47 91 31 85 85

Kjetil Ramstad CFO, at +47 90 75 94 89