Report for Q3 2022

Eidesvik Offshore ASA is pleased to report its Q3 group results. The report is attached to this notification and available for download from the company’s website

Revenue from Q3 was at the highest level in a quarter since 2016. EBITDA margin for the quarter was 48%.

The award of multiple new contracts is securing long term utilization for our vessels.

Revenue for Q3 2022 was MNOK 190.4 compared to MNOK 174.8 in Q3 2021, EBITDA was MNOK 91.0 compared to MNOK 81.5 in Q3 2021.

Operating profit was MNOK 262.9 and net profit was MNOK 162.8. Reversal of previous impairment on vessels of net MNOK 209.2 together with improved operating results drove the profit margin upwards.

Bømlo, November 15, 2022

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.