Eidesvik Offshore - Interim / Quarterly Report 2016

FINANCIAL REPORT 2ND QUARTER 2016

In 2nd Quarter 2016 Eidesvik Offshore ASA had

consolidated operating income of MNOK 180,0 (MNOK

308,5 in the corresponding period in 2015). Operating

profit before depreciations (EBITDA) was MNOK 89,6

(MNOK 177,7), and operating profit (EBIT) was MNOK

35,4 (MNOK 113,6). Net financial items was MNOK -60,3

(MNOK 31,4). Profit after tax was MNOK -27,0 (MNOK

144,7).

The group's consolidated operating income per

30.06.2016 was MNOK 373,3. (Total operating income pr

30.06.2015 was MNOK 587,0 including termination fee

for the "Vantage" contract of MNOK 22,2). Operating

profit before depreciation (EBITDA) was MNOK 183,2

(MNOK 344,9), and operating profit was MNOK 75,5 (MNOK

219,7). Profit from joint ventures of MNOK 40,4 (MNOK

37,5) is mainly related to operation of the two

seismic vessels "Oceanic Vega", "Oceanic Sirius" and

the subsea vessel "Seven Viking".

Please find enclosed 2nd quarter financial report and

presentation.

Contact: CEO Jan Fredrik Meling TEL +47 916 75 119.

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