Report for 2nd Quarter 2019

Eidesvik Offshore ASA (the «Company») reports its results for the 2nd Quarter 2019. The report is attached to this notification and available for download from the Company’s website

– Consolidated EBITDA of MNOK 96.2, and EBITDA adjusted for one-off effects of MNOK 54.5, compared to MNOK 20.6 in 2nd Quarter 2018
– Contract with Ocean Installer for Viking Neptun
– Contract with Aker BP for Viking Prince
– Contract with Equinor for Viking Queen
– Master time charter agreement with Seabed Geosolutions and term contracts for Subsea Viking and Vantage
– Letter of award from Magseis Fairfield for Veritas Viking
– Contract with Aker BP for Viking Athene
– Extension with Siemens Gamesa Renewable Energy for Acergy Viking
– Extension with Chevron for Viking Princess
– Termination of the contract for Viking Vanquish with CGG
– Term sheet with CGG for sale of Global Seismic Shipping

– Contract with Equinor for Viking Avant, which enables the Company to install batteries and hybrid solutions for the vessel
– Contract with Equinor for Viking Queen

In 2nd Quarter 2019 the Company had consolidated operating income of MNOK 209.6, whereof MNOK 38.6 is related to the termination of the contract for Viking Vanquish (MNOK 125.0 in the corresponding period in 2018). Operating profit before depreciations (EBITDA) was MNOK 96.2 (MNOK 20.6), and operating profit (EBIT) was MNOK 39.2 (MNOK -42.9). Profit from joint ventures was MNOK -2.0 (MNOK -10.8). Net financial items were MNOK -9.0 (MNOK -62.7). Profit after tax amounted to MNOK 30.2 (MNOK -105.6).

Bømlo, August 22, 2019.

Contact: CEO Jan Fredrik Meling (+47 916 75 119)
CFO Tore Byberg (+47 475 09 012)

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