Eidesvik Offshore — Interim / Quarterly Report 2017

Aug 24, 2017

FINANCIAL REPORT 2ND QUARTER 2017

FINANCIAL REPORT 2ND QUARTER 2017

In 2nd Quarter 2017 Eidesvik Offshore ASA had consolidated

operating income of MNOK 215,8 (MNOK 180,0 in the

corresponding period in 2016). The revenues includes a

remainder settlement of contract change for Viking Vanquish

of MNOK 72,0. Operating profit before depreciations (EBITDA)

was MNOK 125,7 (MNOK 89,6), and operating profit (EBIT) was

MNOK 243,4 (MNOK 35,4) after an impairment of one vessel

after remainder settlement of a change in the vessel's

contract terms of MNOK -22,8. Profit from Joint Ventures is

much influenced by the including of the Joint Venture Global

Seismic Vessels AS in the accounts with a result of 197,4.

Net financial items was MNOK -39,5 (MNOK -60,3). Profit

after tax was MNOK 201,1 (MNOK -27,0).

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