Report for Q1 2023

Eidesvik Offshore ASA (“Eidesvik” or the “Company”) is pleased to report its Q1 2023 results. The report and the corresponding presentation are attached to this notification and available for download from the Company’s website https://www.eidesvik.no.

Revenue for Q1 2023 was NOK 133.5 million and EBITDA was NOK 27.8 million (21%). In a seasonally slow quarter, Eidesvik saw revenue improvement of 22% from Q1, 2022. EBITDA margin improved 16% points quarter on quarter.

Operating result (EBIT) was NOK –13.9 million (-29.4) and result after tax was NOK -25 million (-9.6).

The Company added a backlog of NOK 856 million in the quarter bringing the total consolidated backlog to NOK 2.1 billion.

Bømlo, May 24, 2023

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.