Report for Q2 2023

Eidesvik Offshore ASA (“Eidesvik” or the “Company”) is pleased to report a strong Q2 2023 result. The report and the corresponding presentation are attached to this notification and available for download from the Company’s website

In Q2 2023 Eidesvik delivered an operational and financially solid quarter with revenue of NOK 240.5 million (185.1 in Q2 2022) and high fleet utilization of 96%. EBITDA was NOK 128.7 million (75.1). This corresponds to a 30% revenue increase compared to same quarter last year and an EBITDA margin for the quarter of 54%.

Due to improved rates and market fundamentals Eidesvik reversed NOK 332.2 million of previously impaired asset values in the quarter. Operating result (EBIT) was NOK 418.1 million (38.8) and result after tax was NOK 407.5 million (-100.9).

Bømlo, August 30, 2023

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.