DOF Group ASA (“DOF”) is pleased to announce that Skandi Achiever has been awarded an offshore service and survey contract in Brazil in support of a SURF project with operations planned to start in early May and covering three campaigns during 2025.
Furthermore, Skandi Salvador has had its charter, service, and survey contract with Subsea7 in support of SURF projects in Brazil extended until July 2025. The contract foresees additional options.
For further information, please contact:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
Select a category.
No articles found.
The Group's revenue for 3[rd] quarter (management reporting) totals NOK 3,372 million (NOK 2,850 million) and EBITDA totals NOK 1,295 million (NOK 1,032 million). The operating profit (EBIT) is NOK 889 million (NOK 680 million). Net financial cost amounts to NOK -551 million (NOK -1,092 million) incl. unrealised currency loss of NOK -249 million (NOK -834 million) and a net positive result of NOK 285 million (NOK -482 million). The Group's net interest bearing debt is NOK 14,571 million (NOK 22,398 million) and the book equity is NOK 7,955 million (NOK -1,428 million).
Key highlights:
- Another strong quarter and the Group achieved an EBITDA of NOK 1,295 million and a margin of 38%.
- Cash flow from operations activities at NOK 1,107 million.
- The average utilisation of the owned fleet was 85%.
- The markets have continued to be strong, with high tender activity.
- A purchase option related to the Skandi Iceman has been exercised at a price below market values.
- Skandi Neptune (agreed sold in 2021) has been delivered to new owners.
- Stril Explorer has been chartered in on a 3-year contract (+ 4 annual options) to support PIDF contract in Brazil.
- After balance date the Group has agreed to acquire 3 "non-core" PSVs from the lenders in DOF Rederi, whereof two of these vessels are in process to be sold.
- The total current fleet includes 54 vessels (incl. vessels on management or hired in):
-- 14 AHTSs, 11 PSVs and 29 Subsea vessels.
- A strong order intake of NOK 4.3 billion in the 3rd quarter.
- Firm backlog by end September of NOK 22.3 billion.
Statement from the CEO, Mons Aase: "We deliver another solid quarter with improved cash flow and experiencing strong markets within all fleet segments. In 3rd quarter the performance has again been good within the subsea project activity and the extension of the PIDF contract in Brazil and the SURF contract in West-Africa are just reflecting the high activity within subsea. We have also experienced strong markets in the North Sea especially for the PSV fleet. Petrobras is out with several tenders, and we expect the backlog in Brazil to grow further at improved rates. Based on the good performance so far and the high backlog for Q4, the EBITDA guidance for the year has been increased to NOK 4.75-4.85 billion, from NOK 4.5-4.75 billion".
Please see enclosed 3rd quarter Financial Report 2023.
Webcast is available Friday, 10th of November at 08:30 on www.dof.com/webcast.
>>> DOF Group ASA Financial Report Q3 2023 (PDF, 5 mbs)
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: +47 916 21 057
E-mail: martin.lundberg@dof.com
DOF Group ASA will present the Q3 results on Friday 10th of November 2023. The report will be available at www.dof.com and www.newsweb.no before the presentation.
The presentation of the quarterly results will be held at 08:30 CET at Norges Rederiforbund, Rådhusgaten 25, 7th floor, Oslo, and as a webcast at the same time on: www.dof.com/webcast
The presentation will be held by CEO Mons S. Aase and CFO Hilde Drønen.
Due to practical reasons, we ask those of you interested in attending the presentation to please register to Margrethe R. Østervold, e-mail mro@dof.com, within Wednesday 8th of November.
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: +47 916 21 057
E-mail: martin.lundberg@dof.com
DOF Group are pleased to announce the expansion of the fleet with the addition of the high end AHTS Skandi Jupiter and Skandi Mercury, formerly known as the Havila Jupiter and Havila Venus respectively. DOF are proud to be selected by the vessel’s new owners to be commercial and technical managers of these advanced offshore support vessels which will add to, and complement, DOF Group’s capabilities within both Renewables and O&G Project, in the North Sea. DOF is expected to take over the management the week beginning 6th of November 2023, any chartering enquiries relating to the Skandi Jupiter and Skandi Mercury should be directed to chartering@dof.com.
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com
DOF is pleased to announce the opening of a new office, together with a local partner, in Busan, Korea, to meet the rising demand of offshore energy projects in the region.
With a well-established reputation for innovation and forward-thinking policies in clean energy, the Korean market represents a significant growth opportunity for DOF as the oil and energy sector transitions over to renewables.
According to market analysis, Korea is set to develop 4GW of offshore floating wind by 2030 with a further 5GW by 2035. This means that Korea is expected to provide the largest offshore floating wind opportunities in the world. To meet this rising demand, DOF is excited to expand into this market and bring with them their expertise and capabilities from the offshore energy industry.
.png)
With over 40 years of offshore experience, DOF is a significant supplier to the global oil and energy industry. Over the past few years, DOF has played a significant role in the development of floating offshore wind projects and has valuable experience in the deployment of floating wind turbines. Especially, this expertise was demonstrated during the installation of wind turbines at Hywind Tampen, the world’s largest floating wind farm to date.
Jan Kristian Haukeland, DOF’s EVP Renewables,said:
“We are excited to establish our presence in Korea. The expansion is a significant milestone for DOF as we continue to grow and contribute to the global energy transition. With our new office in Busan, we will be able to better serve our customers in the region and look forward to collaborating with local partners to capture opportunities in the renewables market.”
Financial calendar for DOF Group ASA
FINANCIAL YEAR 2023
10.11.2023 - Quarterly Report - Q3
23.02.2024 - Quarterly Report - Q4
FINANCIAL YEAR 2024
21.08.2024 - Half-yearly Report
30.04.2024 - Annual Report
23.05.2024 - Annual General Meeting
15.05.2024 - Quarterly Report - Q1
07.11.2024 - Quarterly Report - Q3
21.02.2025 - Quarterly Report - Q4
This information is published pursuant to the requirements set out in the Continuing obligations.
DOF is pleased to announce entering a charter for the Stril Explorer owned by Simon Møkster Shipping. The charter is a bareboat with a firm duration of 3 years plus 4 annual options.
The vessel will be utilized on the recently awarded PIDF project. DOF is very pleased to secure this vessel and increase the IMR capacity in our project segment.
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com
Please see attachment.
Downloads: Letter to Regulator- DOF Group ASA TD 2023.10.03 (PDF)
Please see attachment.
Downloads: Letter to Regulator- DOF Group ASA TD 2023.10.03 (PDF)