EIOF – Q4 and preliminary full year financial results

Eidesvik Offshore ASA is pleased to publish its fourth quarter 2023 results with strong growth in both revenue and EBITDA.

Revenue and EBITDA for the quarter grew by 19% and 41% compared to 2022 (excluding sales gain), reflecting strong utilisation and improved pricing.

For Q4, revenue and EBITDA were NOK 193.7 million and NOK 74.6 million respectively. EBITDA margin was 38% up from 32% in 2022 (excluding sales gain).

2023 preliminary full year revenue was NOK 772.4 million with an EBITDA of NOK 336.2 million.

Operating profit was NOK 115.0 million for the quarter and NOK 580.9 million for the year.

Result before taxes was NOK 103.5 million for Q4 and NOK 536.9 million for 2023.

Fleet utilisation was 96% for the quarter and 94% for the full year.

The full report and the corresponding presentation are attached to this notification and available for download from the Company’s website https://eidesvik.no/investor-relations/.

A presentation of the results will be held on February 21, 2024, at 08:30 am CET by CEO Gitte Gard Talmo and CFO Helga Cotgrove. The presentation will be digital. Please register for the presentation by e-mail to investor.relations@eidesvik.no within February 21, 2024, at 08:00 am.

Bømlo, February 21, 2024

Contacts:
CEO Gitte Gard Talmo (+47 915 23 245)
CFO Helga Cotgrove (+47 907 35 246)

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