Report for 3rd Quarter 2020

Eidesvik Offshore ASA (the “Company”) reports its results for the 3rd Quarter 2020. The report and the associated presentation is attached to this notification and available for download from the Company’s website

– Consolidated EBITDA of MNOK 59.8 (MNOK 55.0 adjusted for one-off effects), compared to MNOK 63.3 in 3rd Quarter 2019
– Contract extension with Aker BP for Viking Lady
– Ship management agreement with Aker BP for two supply vessels

– Contract with Wintershall Dea Norge AS for Viking Princess
– Contract with DEME Offshore NL BV for Viking Neptun

In the 3rd Quarter 2020 the Company had consolidated operating income of MNOK 142.7 (MNOK 176.1 in the corresponding period in 2019). Operating result before depreciations (EBITDA) was MNOK 59.8 (MNOK 63.3), whereof MNOK 4.8 was related to one-off effects. Operating result (EBIT) was MNOK 11.2 (MNOK 9.6). Result from joint ventures was MNOK 4.0 (MNOK 5.6). Net financial items were MNOK 16.9 (MNOK -102.1). Result after tax amounted to MNOK 28.3 (MNOK -92.4), whereof a positive effect of MNOK 33.3 was mainly due to NOK strengthening against USD during the Quarter.

Bømlo, November 17, 2020.

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

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