Financial Report 2nd quarter for DOF Group ASA

The Group's revenue for 2nd quarter (management reporting) totals NOK 3,524 million (NOK 2,500 million) and EBITDA totals NOK 1,349 million (NOK 851 million). EBITA margin of 38% (34%). The operating profit (EBIT) is NOK 1,412 million (NOK 505 million). Net financial cost amounts to NOK -48 million including unrealised currency gain/loss on long-term debt. The net result is NOK 1,140 million (NOK -1,285 million). The Group’s net interest bearing debt is NOK 15,557 million (NOK 21.337 million) and the book equity is NOK 7,809 million (NOK -1,018 million).

Key highlights:
- Record high Group EBITDA of NOK 1,349 million (NOK 851 million) and a margin of 38%
- The Group’s fleet achieved an average utilisation of 88% (86%) in the quarter.
- Margins, rates and vessel values have continued the positive trend seen in previous quarters.
- DOF Group ASA completed re-listing at Oslo Børs after completion of a public offering of 20.1 million new shares corresponding gross proceeds of NOK 564 million.
- In May the Group exercised its option to purchase the Skandi Hera (AHTS) and the Skandi Darwin (Subsea) and after balance date an option related to the Skandi Iceman (AHTS) was exercised. All at prices significantly below market values.
- The total current fleet includes 55 vessels (incl. vessels on management or hired in):
  o 14 AHTSs, 11 PSVs and 30 Subsea vessels.
- Order intake of NOK 1.6 billion in the 2nd quarter.  
- Firm backlog by end June of NOK 20.8 billion (contracts awarded after balance date represent a value of approximately NOK 1 billion)

Please see enclosed 2nd quarter Financial Report 2023.
>>> DOF Group ASA Q2 Financial Report 2023 (PDF)

Webcast is available Wednesday, 23rd of August at 08:45 on

For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: +47 916 21 057

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