EIOF – Report for Q1 2024

Eidesvik Offshore ASA publishes its first quarter 2024 results with substantial growth in both revenue and EBITDA.

Revenue and EBITDA for the quarter grew by 37% and 142% compared to Q1 2023.

For Q1, revenue and EBITDA were NOK 183.4 million and NOK 67.4 million respectively. EBITDA margin was 37%, up from 21% in Q1 2023. Operating result (EBIT) was NOK 23.8 million, an increase of NOK 37.7 million.

Fleet utilisation was 96% for the quarter compared to 81% in the same quarter last year.

“EIOF delivers its strongest Q1 result in seven years. We successfully capitalized on thriving markets across all our operating segments and demonstrated outstanding operational performance”, says CEO Gitte Gard Talmo.

A presentation of the results will be held on 22 May 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 22 May 2024, at 08:00 am.

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/.

Bømlo, 22 May 2024

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.