DOF Group ASA (“DOF”) is pleased to announce the award of three Petrobras service contracts (PIDF) in Brazil.
The contracts awarded are for execution of subsea inspections as part of Petrobras’ subsea inspection program, supporting the assessment of the integrity of Petrobras’ subsea facilities.
This award is the result of a competitive tender process and marks the third consecutive contract of this type secured by DOF in Brazil.Over the course of previous contracts, DOF has successfully and safely completed more than 7,000 inspections, reinforcing its leading position as a trusted partner for Petrobras in subsea operations.
The three new contracts have a combined value of approximately USD 390 million and encompass more than 4,000 planned inspections. To deliver on these requirements, DOF expects to deploy at least three vessels equipped with work-class ROVs, and one of the vessels specially outfitted and crewed to perform shallow air diving inspections.
Operations under these contracts, which will be managed in combination, will cover Brazil’s three main offshore basins (Santos, Campos and Espirito Santo) and are expected to commence in the first half of 2026 for a duration of three years.
Mons S. Aase, CEO DOF Group ASA, said: “We a thrilled to continue to deliver on our commitment to excellence and innovation in subsea inspection services for Petrobras. The inspection-based nature of the contracts as opposed to a day rate structure offers valued flexibility to our growing fleet in Brazil.”
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
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DOF is pleased to announce the award of a long-term commitment from an international operator for the CSV Skandi Inventor in the APAC region. The contract duration is one year with further extension options, commencing January 2026. The commitment reinforces DOF’s capability of delivering reliable subsea services in the region.
“This commitment marks a significant milestone in our ongoing operations in the APAC region and underscores DOF’s capability to deliver high-performance subsea solutions.” said Mons Aase, CEO DOF Group ASA. “Skandi Inventor’s deployment will enhance operational efficiency and support our partners’ long-term asset integrity goals in the region.”
DOF looks forward to continuing our commitment to providing safe, efficient, and sustainable offshore operations in the APAC region.
The size of the contract is Substantial, which DOF defines as a contract with value between USD 25 – 50 million.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
The shares in DOF Group ASA will be traded ex dividend of USD 0.30 per share as of today, 27 August 2025. Please note that the payment will be made in NOK at NOK 3.04311 per share. The payment will be made on 4 September 2025.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
DOF Group ASA (“DOF”) is pleased to announce an addendum to its long-term inspection contract (PIDF) with Petrobras in Brazil.
The addendum comprises additional scope of work, which is expected to be concluded by the end of 2025. Stril Explorer, Geoholm and Skandi Carla are currently operating on this contract.
The combined value of the addendum in excess of USD 50 million.
Furthermore, DOF is pleased to announce one new long-term contract in Brazil.
Following the same competitive tender process that resulted in the previously announced contract awards of the three vessels Skandi Achiever, Skandi Carla and Geoholm, Brazilian-flagged Skandi Salvador is now also contracted on a 4-year term-charter with Petrobras. Skandi Salvador will operate with two work class ROVs and subsea crane. The vessel is expected to be delivered in December 2025.
The value of the contract is approximately USD 165 million.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
As part of DOF Group ASA’s (the “Company”) long-term share option scheme for senior executives described in the Company’s guidelines for salary and other renumeration to leading personnel, approved at the annual general meeting held on 20 May 2025, the Company’s board of directors has resolved to grant a total of 1,076,250 share options to selected senior executives, including primary insiders.
The options vest in tranches with 1/3 of the options vesting on 20 August 2026, 1/3 on 20 August 2027, and 1/3 on 20 August 2028. All options expire on 20 August 2030 and any options not exercised by the expiry date will lapse without compensation. Each option gives the right to purchase one share in DOF Group ASA.
The strike price for the options has been set to NOK 95.90553 per share. The strike price is equal to the subscription price in the USD 100 million private placement in July 2024 of NOK 99.0 per share, adjusted for the dividend of NOK 3.09447 per share paid in June 2025.
The following primary insiders have been granted options:
Mons S. Aase, CEO, has been granted 210,000 share options. Following the grant, he holds 210,000 options and 716,026 shares in the Company.
Martin Lundberg, CFO, has been granted 123,750 share options. Following the grant, he holds 123,750 options and 135,000 shares in the Company.
Marianne Møgster, EVP Marine and Asset Operations, has been granted 123,750 share options. Following the grant, she holds 123,750 options and 168,084 shares in the Company.
Toril Træen, EVP People and Organisation, has been granted 123,750 share options. Following the grant, she holds 123,750 options and 26,085 shares in the Company.
For further information, please refer to the attached document.
This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
DOF Group ASA is pleased to invite investors, analysts and other stakeholders to its Capital Markets Day on Tuesday 9 September 2025 at 11:00 - 14:30 CEST in Oslo.
The presentation will be held by DOF's CEO Mons Aase, CFO Martin Lundberg and other key executives across the company, and will cover the following topics:
- Introduction
- Strategy update
- Operational deep dives focusing on Brazil and North America
- Q&A
Practical information:
Location: The event will take place at the office of Pareto Securities in Dronning Mauds gate 3, Oslo.
Date and time: Tuesday 9 September 2025.
The presentation will start at 11:30 CEST.
Refreshments will be served from 11:00 CEST.
Please use the following link to register physical attendance:
https://invitepeople.com/events/bddad057b5
A live webcast for those not attending in person will be available on https://www.dof.com/webcast, and a recording of the presentation will be published on the same webpage after the event.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
FINANCIAL YEAR 2025
20.08.2025 - Half-yearly Report
05.11.2025 - Quarterly Report - Q3
19.02.2026 - Quarterly Report - Q4
FINANCIAL YEAR 2026
20.08.2026 - Half-yearly Report
10.04.2026 - Annual Report
07.05.2026 - Annual General Meeting
22.05.2026 - Quarterly Report - Q1
12.11.2026 - Quarterly Report - Q3
18.02.2027 - Quarterly Report - Q4
This information is published pursuant to the requirements set out in the Continuing obligations.
DOF Group ASA's (“DOF” or the “Group”) revenue for 2nd quarter (management reporting) totals USD 507 million (USD 361 million) and EBITDA totals USD 214 million (USD 122 million). The operating profit (EBIT) is USD 150 million (USD 111 million). Net financial gain amount to USD 10 million (USD -91 million) including unrealised currency gain of USD 37 million (loss USD -62 million). The result after taxes is USD 136 million (USD 6 million). The Group’s net interest-bearing debt is USD 1,368 million (USD 1,286 million). The equity is USD 1,942 million (USD 1,045 million) giving an equity ratio of 46% (35%).
Key Highlights in 2nd quarter
- The Group delivered EBITDA of USD 214 million (USD 122 million) including USD 5 million insurance settlement
- Utilisation of 88% (89%)
- The NIBD/LTM EBITDA is 2.1x
- Quarterly dividend payment in September 2025 of USD 0.3 per share
-Firm backlog by end June is USD 3.7 billion (USD 2.6 billion)
Note: all numbers commented above are based on management reporting
Statement from the CEO
The second quarter of 2025 was a quarter of strong operational and financial performance for DOF Group ASA, capitalising on the momentum that we have been building.
I am pleased that we are now starting to see the earnings potential of the DOF Denmark fleet materialise. After a period of transits and mobilisations following closing of the acquisition in November 2024, the DOF Denmark fleet demonstrated increased utilisation at 82% and EBITDA at USD 45 million for Q2. Beyond that, I am also very happy to see the strong performance of the ‘legacy’ DOF fleet, delivering EBITDA of USD 169 million compared to USD 122 million in Q2 2024.
The quarter contained significant additions to the backlog driven by new long-term contract awards in Brazil. Further contract announcements have followed in the start of Q3, and the total backlog including additions after the balance date for Q2 now exceeds USD 4 billion. The backlog provides good earnings visibility for the years to come, with several vessels having secured work through this decade at attractive terms.
We commenced our quarterly dividend payments in June with USD 0.3 per share, and the next one is coming up in September. Based on the Group’s solid earnings, outlook and financial position, we are committed to continue to deliver attractive cash returns to our shareholders.
The outlook for the rest of 2025 remains strong, and we narrow our EBITDA guidance range to USD 740 – 770 million.
Please see enclosed 2nd quarter Financial Report 2025 and presentation.
A webcast, followed by a Q&A session, will be available on Wednesday, 20 August at 14:00 CEST on www.dof.com/webcast.
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
The board of directors of DOF Group ASA (the "Company") has resolved to distribute a dividend in the amount of USD 0.30 per share. The resolution has been made by use of the authorisation granted by the Company's annual general meeting on 20 May 2025.
- Dividend amount: USD 0.30 per share
- Declared currency: USD
- Last day including right: 26 August 2025
- Ex-date: 27 August 2025
- Record date: 28 August 2025
- Payment date: 4 September 2025
- Date of approval: 19 August 2025
- Other information: The dividend will be paid in NOK and the amount in NOK will be announced at a later date.
This information is published in accordance with the requirements of the Oslo Børs Rule Book II and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
DOF Group ASA will release its Q2 results on Wednesday, 20 August 2025. The report will be available at www.dof.com and www.newsweb.no.
A presentation of the quarterly results will be held at "Vestland på Børs" at Scandic Flesland Airport Hotel at 08:45 CEST, and as a webcast at 14:00 CEST the same day at: https://www.dof.com/webcast. A recording of the presentation will be published on the same webpage after the event.
The presentation will be held by CEO Mons S. Aase and CFO Martin Lundberg.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64