28 August 2025: DOF Group ASA ("DOF") has mandated DNB Carnegie and Pareto Securities as Global Coordinators and Joint Bookrunners...
28 August 2025: DOF Group ASA ("DOF") has mandated DNB Carnegie and Pareto Securities as Global Coordinators and Joint Bookrunners, and Clarksons Securities and Danske Bank as Joint Bookrunners, to arrange a series of investor meetings commencing Friday 29 August 2025.
A new USD denominated 5-year senior unsecured bond issue may follow, subject to inter alia market conditions.
The net proceeds from the contemplated bond issue shall be applied to refinance existing debt and for general corporate purposes.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
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DOF Group ASA (“DOF”) has terminated the contract for Skandi Implementer with a client in Mexico following payment default.
DOF plans to have Skandi Implementer fitted with two of DOF’s ROVs and pursue opportunities in the global subsea market.
For further information, please contact:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
DOF Group ASA (the "Company") has been informed that Petter Pharo, Group General Counsel, has today purchased 600 shares in the Company as further specified in the attached notification form.
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.
DOF Group ASA (“DOF”) today hosts a presentation about DOF Denmark at 14:00 CET. The presentation is digital only and is available on www.dof.com/webcast. A recording of the presentation will be published on the same webpage after the event.
The presentation material is attached hereto and is also available on DOF’s website under Reports & Presentations.
For further information, please contact:
Martin Lundberg, SVP Finance DOF Group ASA
Phone: +47 91 62 10 57
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
Financial calendar for DOF Group ASA
FINANCIAL YEAR 2024
24.02.2025 - Quarterly Report - Q4
FINANCIAL YEAR 2025
20.08.2025 - Half-yearly Report
04.04.2025 - Annual Report
20.05.2025 - Annual General Meeting
16.05.2025 - Quarterly Report - Q1
05.11.2025 - Quarterly Report - Q3
19.02.2026 - Quarterly Report - Q4
This information is published pursuant to the requirements set out in the Continuing obligations.
DOF Group ASA ("DOF") is pleased to invite investors, analysts and other stakeholders to a presentation about DOF Denmark (renamed from Maersk Supply Service A/S as of closing of the acquisition on 1 November 2024) on 18 December 2024 at 14:00 CET.
The presentation is expected to last approximately one hour and will provide further insight about DOF Denmark, followed by a Q&A session.
The presentation will be digital only and 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.
Please note that the date of the presentation differs from the date initially communicated at DOF's Q3-24 presentation.
For further information, please contact:
Martin Lundberg, SVP Finance DOF Group ASA
Phone: +47 91 62 10 57
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
The contract will utilise one of DOF’s project vessels in the region and includes project management, engineering, logistics support and all related subsea activities. Offshore services are expected to commence in Q1 2025 for approximately 150 days.
Mons Aase, CEO DOF Group ASA, said, “This award secures further backlog for the APAC region with an estimated value of over AUD 20m. We look forward to delivering a safe and successful project.”
For further information, please contact:
Martin Lundberg, SVP Finance DOF Group ASA
Phone: +47 91 62 10 57
E-mail: martin.lundberg@dof.com
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
E-mail: eirik.vardoy@dof.com
Find below the Purchase Order General Terms and Conditions for the different DOF companies. These shall apply unless otherwise agreed In Writing between the Parties. SUPPLIER's general terms and conditions, exceptions, qualifications, or other terms and conditions shall not apply unless explicitly accepted In Writing by DOF.
Our General Terms and Conditions:
>>> DOF Management AS (Australia, Norway, U.K.)
>>> Norskan Offshore Ltda (Brazil)
NOTE: These shall apply unless otherwise agreed In Writing between the Parties. The Statement is owned by the DOF Group's VP Global Supply Chain.
DOF Group ASA's (“DOF” or the “Group”) revenue for 3rd quarter (management reporting) totals USD 376 million (USD 322 million) and EBITDA totals USD 141 million (USD 123 million). The operating profit (EBIT) is USD 88 million (USD 85 million). Net financial costs amount to USD -9 million (USD -52 million) including unrealised currency gain of USD 17 million (USD -24 million). The result after taxes is USD 69 million (USD 27 million). The Group’s net interest-bearing debt is USD 1,143 million (USD 1,372 million). The equity is USD 1,195 million (USD 749 million) giving an equity ratio of 39% (27%).
Key highlights in 3rd quarter:
• The Group achieved an EBITDA of USD 141 million (USD 123 million).
• The net profit was USD 69 million (USD 27 million) and has been positively impacted by an unrealised non-cash currency gain of USD 17 million (USD -24 million) due to a strengthened BRL to USD in the quarter.
• The Group’s cash flow from operating activities was USD 124 million (USD 141 million) in the quarter.
• The equity ratio has improved from 27% to 39% due to strong results the last 12 months and a private placement of USD 75 million in July.
• The Net interest-bearing debt (NIBD) has been reduced from USD 1,372 million to USD 1,143 million. The NIBD/LTM EBITDA by end September is 2.3x (3.0x)
• The average utilisation of the fleet has been 92% (85%) in the quarter.
• The performance has been good in the APAC, North America and the Atlantic regions, and stable in Brazil.
• The total fleet consists of 57 vessels (incl. 14 vessels on management or hired in):
o 16 AHTSs, 10 PSVs and 31 Subsea vessels.
• The order intake in 3rd quarter was USD 0.5 billion.
• Firm backlog by end September is USD 2.75 billion (USD 2.1 billion). Order intake after balance date is approximately USD 90 million.
• The Group has on 1st of November completed the acquisition of Maersk Supply Service A/S (“MSS”) which has been renamed to DOF Denmark A/S and will be incorporated in the accounts from 1st of November.
Note: all numbers commented above are based on management reporting
Statement from the CEO:
“After completion of the MSS acquisition, we look forward to further developing the DOF Group with an advanced fleet of CSVs and high-end AHTS vessels and the combined competence and capabilities in DOF and MSS. Our main focus now is to ensure a good integration process of the two companies with a common target to deliver world-class services to our customers.
I am further pleased to see the continuing good performance from our subsea regions and am optimistic that the Group’s subsea project activity will continue to grow both due to the recent awarded contracts and ongoing tenders. The activity in the North Sea spot market for AHTS and PSV has slowed down the last two months especially on the UK sector, but we see the opposite in Brazil where Petrobras is out with several tenders and also in Asia-Pacific where we recently were awarded another very good PSV contract.
The expected improved earnings in the second half are confirmed by the 3rd quarter result, hence we change the EBITDA guiding to USD 510-520 million. The uncertainty in 4th quarter is limited as the reported backlog for 4thquarter is higher than the reported revenue in 3rd quarter.
With reference to our Capital Markets Day in September, we have now started the refinancing process of the Group to position the Company with the target to pay dividends from 2nd quarter 2025 and onwards. The progress is good and strong indications of interest from banks to participate in the refinancing.”
Please see enclosed 3rd quarter Financial Report 2024.
>>> DOF Group ASA Q3 2024 Financial Report (PDF)
A webcast, followed by a Q&A session, will be available Thursday, 7th of November at 08:30 CET on www.dof.com/webcast.
For further information, please contact:
Martin Lundberg, SVP Finance DOF Group ASA
Phone: +47 91 62 10 57
E-mail: martin.lundberg@dof.com
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
E-mail: eirik.vardoy@dof.com
Austevoll, 5 November 2024: Reference is made to the stock exchange announcement made by DOF Group ASA ("DOF" or the "Company") on 2 July 2024 in which it was announced that DOF, through DOF Offshore Holding Denmark ApS on certain terms and conditions would acquire all the shares in Maersk Supply Service A/S (renamed to DOF Denmark A/S on the date hereof)("MSS") from Maersk Supply Service Holding ApS ("MSSH") (the "Transaction"). Reference is further made to the stock exchange announcement by the Company on 1 November 2024 in which it was announced that (i) the Transaction had been completed, and (ii) the board of directors of the Company had resolved to issue 58,883,073 consideration shares (the "Consideration Shares") and 2,686,591 new shares (the "New Shares") to MSSH, in order settle part of the purchase price under the Transaction.
The Consideration Shares and the New Shares issued to MSSH to settle the Company's obligation under the Transaction have been delivered on a separate ISIN pending publication of a listing prospectus (the "Prospectus") approved by the Financial Supervisory Authority of Norway (Nw.: Finanstilsynet).
The Financial Supervisory Authority of Norway has today, on 5 November 2024, approved a prospectus (the "Prospectus") for the listing of the Consideration Shares and the New Shares on the Oslo Stock Exchange.
The Prospectus will, subject to regulatory restrictions in certain jurisdictions, be available on the Company's website, www.dof.com.
>>> DOF Group ASA - PROSPECTUS (PDF, 10 mbs)
The Consideration Shares and the New Shares will be delivered to the ordinary ISIN of the Company and become tradable on the Oslo Stock Exchange under the ticker "DOFG".
For further information, please contact:
Martin Lundberg, SVP Finance DOF Group ASA
Phone: +47 91 62 10 57
E-mail: martin.lundberg@dof.com
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
E-mail: eirik.vardoy@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 than distributors) unless the securities are registered under the Act, or an exemption from the registration requirements of the Act is available.