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
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Austevoll, Norway, 29 September 2023: Reference is made to the obligation included in DOF Group ASA's (the "Company") articles of associations, regarding the conversion of all the 123,276,652 existing B-shares to ordinary shares ("New Ordinary Shares") in an exchange ratio of 1:1 (the "Conversion") at the later of (i) the following business day after 30 September 2023 and (ii) if required, the date that the prospectus required to list the relevant New Ordinary Shares on the Oslo Stock Exchange is published.
The Financial Supervisory Authority of Norway (Nw.: Finanstilsynet) has today, on 29 September 2023, approved a prospectus, comprising a securities note, a registration document supplement and a summary (jointly, the "Prospectus") for the listing of the New Ordinary Shares on the Oslo Stock Exchange, following the Conversion.
The Conversion is subject to approval by the Company's board of directors, and is expected to take place the first business day after 30 September 2023, i.e. 2 October 2023. Subject to approval by the board of directors, on the first day of trading in the New Ordinary Shares is expected to be on or about 3 October 2023.
The Company will notify the market through a stock exchange announcement immediately after the Conversion has been resolved by the board of directors. For the sake of good order, the Company would like to emphasize that trading in the New Ordinary Shares prior to the Conversion would constitute a breach of the Short Selling Regulation implemented into Norwegian law through Section 3-5 in the Norwegian Securities Trading Act.
The Prospectus will be, subject to regulatory restrictions in certain jurisdictions, available on the Company's website, www.dof.com.
>>> DOF Group ASA - Summary 29-Sep-2023.pdf
>>> DOF Group ASA - Registration Document 29-Sep-2023.pdf
>>> DOF Group ASA - Registration Document Supplement 29-Sep-2023.pdf
>>> DOF Group ASA - Securities Note 29-Sep-2023.pdf
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
Important notice:
This announcement is not being made in or into the United States of America, Canada, Australia, Japan, Hong Kong or in any other jurisdiction where it would be prohibited by applicable law. This distribution does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in the United States. The shares referred to herein have not been and will not be registered under the United States Securities Act of 1933, and may not be offered or sold in the United States or to U.S. persons (other that distributors) unless the securities are registered under the Act, or an exemption from the registration requirements of the Act is available.
In the fleet loan facility for DOF Rederi signed on 24 February 2023, the oldest PSV fleet has been defined as non-core. This implies no debt on this part of the fleet, and that all surplus cash from the sale of these vessels shall be paid directly to the lenders with zero repayment of the existing debt. Currently, the non-core fleet includes 3 vessels, Skandi Caledonia (built 2003), Skandi Captain (built 2004) and Skandi Barra (built 2005).
DOF Group ASA and DOF Rederi AS have today agreed to acquire the non-core fleet from the lenders at a total price of NOK 270 million. NOK 135 million of the purchase price shall be paid in cash and NOK 135 million shall be reinstated as debt in DOF Rederi. The reinstated debt will be priced at market terms and will have maturity in January 2026 which is equivalent as the existing fleet loan facility in DOF Rederi. The reinstated debt is not guaranteed by DOF Group ASA.
The non-core fleet currently operates in the North Sea on contracts where the average Ebitda contribution is approximately NOK 152 000/day per vessel. The current contract status for the fleet is the following:
- Skandi Captain firm until 8 November 2023
- Skandi Caledonia, firm until early Oct (maintenance docking planned in 4[th] quarter)
- Skandi Barra, firm until May 2024 + 1 year option period
Skandi Caledonia has been awarded a contract in Argentina with estimated start up in 1[st] quarter 2024 with a major global oil company. The contract has a duration of 150 days + 60 days options and the estimated Ebitda contribution is above USD 25 000/day excl. mob and demob.
Mons S. Aase, CEO DOF Group ASA, says: "The PSV market is strong, and earnings and vessel values are expected to continue the positive trend. Our core strategy is growth within subsea projects and offshore floating wind. The plan for the PSV fleet is to maximize the combined return from the expected strong momentum in earnings and vessel values in the short to medium term."
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
Click the link below to visit the event registration page:
>>> REGISTER HERE (DOF EMPLOYEES ONLY)
DOF Group ASA is pleased to invite to capital markets day today. Reference to invitation published 30th August.
The presentation material is available at the company website dof.com
>>> DOF Group ASA - Capital Markets Day - September 19, 2023 (PDF, 9 mbs)
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations
Phone: +47 916 21 057
E-mail: martin.lundberg@dof.com
DOF is pleased to announce that we have signed a LOI with a major Oil Company for extension of a large Subsea service contract in the Atlantic region.
Commencement will be in November 2023. Estimated revenue from the contract is approximately USD 60 million.
Mons S. Aase, CEO DOF Group ASA, says: “I’m very pleased with this award adding further backlog for the Group. This award and the award in Brazil announced yesterday lifts our secured backlog for 2024 to above NOK 10.5 billion. Compared to revenue LTM at NOK 11.9 billion we already have a strong basis for further earnings growth in 2024.”
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 proud to announce three new service contracts with Petrobras.
The contracts were originated by a competitive bid process won by DOF and include work within our core service lines for Survey and Inspection.
These contracts represent a continuation of the services handled by DOF on the PIDF123 contracts signed with Petrobras in 2020 and under operation since December of that year.
At least three vessels shall be utilised to perform flexible pipeline, risers and subsea equipment inspection in Campos Basin, Santos Basin, and Espírito Santos Basin. More than 3,200 inspections are expected to be executed.
The contracts are worth more than USD 260 million with planned commencement in Q4 2023 / Q1 2024 and estimated to be performed within 2 years.
Mons S. Aase, CEO DOF Group ASA said: "This is an important win securing high utilisation for us in Brazil and lifting the Group backlog to above NOK 25 billion. I’m very proud for the continued trust Petrobras give us for doing complex IMR work in very deep water."
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
Reference to the stock exchange notice September 6th 2021. The vessel Skandi Neptune has today been delivered to its new owner.
The sale proceeds will be used to repay debt.
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 has successfully attained the esteemed ‘Granted’ status within the Fit for Offshore Renewables (F4OR) initiative. This great achievement is a benchmark of DOF’s continued development in the renewable energy sector. The F4OR program was created by the renowned UK technology,innovation, and research institution known as the Offshore Renewable Energy(ORE) Catapult. Its primary goal is to strengthen the growth of a world-class, domestic supply chain centered around the offshore renewable energy sector.
DOF achieved the F4OR status in August of this year, after having undertaken the rigorous 12 months program with stringent performance criteria. This demonstrates that DOF has the relevant experience, competence and capabilities needed to meet the expected standards within the offshore windfarm sector.
"We are proud to be granted the highly regarded F4OR status. The program is a key milestone as we expand our renewables capabilities in the offshore wind sector "states Jan Kristian Haukeland, EVP Renewables, DOF Group ASA.
Haukeland adds, “as a result of the F4OR program, we expect to see an increased interest in DOF’s services to the offshore wind sector as we bring a wealth of knowledge and experience to the UK market, particularly in Floating Offshore Wind”.
For further information, please contact: Jan Kristian Haukeland, EVP Renewables, DOF ASA: Tel:+47 952 361 19.
DOF is pleased to invite you to a Capital Markets Day on Tuesday 19 September 2023 at 12:00-15:30 CEST. The presentation will be held physically at Pareto Securities’ offices at Dronning Mauds gate 3. Refreshments and networking opportunities will be available after the presentations.
CEO, CFO, IR, and managers of the renewables, Brazilian and US divisions will cover among others the following topics:
- General business update
- Brazil market
- US and Guyana market
- Floating Offshore wind
- Business outlook
- Q&A
Registration:
Click here to register
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