Financial Report 1st quarter 2015 for DOF ASA

The DOF Group’s total revenue is NOK 2 521 million in Q1 and the operational EBITDA NOK 776 million. The Group has sold three vessels in 1st quarter, hence EBITDA including gain on sale of vessels is NOK 992 million. Ebit was NOK 723 million.

The average utilization of the Group’s fleet has in 1st quarter been 85%. The total current back log including options is NOK 64,2 billion and the contract coverage in 2015 is 81%.

Please find enclosed Financial Report 1st quarter 2015.

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CEO Mons Aase, Tel. +47 91 66 10 12
CFO Hilde Drønen, Tel + 47 91 66 10 09

With a multi-national workforce in excess of 5,000 personnel, DOF ASA is an international group of companies which owns and operates a fleet of modern offshore/subsea vessels, and engineering capacity to service both the offshore and subsea market. With over 30 years in the offshore business, the group has a strong position in terms of experience, innovation, product range, technology and capacity.

DOF’s core businesses are vessel ownership, vessel management, project management, engineering, vessel operations, survey, remote intervention and diving operations primarily for the oil and gas sector. From PSV charter to Subsea engineering, DOF offers a full spectrum of top quality offshore services to facilitate an ever-growing and demanding industry.

The company's main operation centers and business units are located in Norway, the UK, the USA, Singapore, Brazil, Argentine, Egypt, Angola, and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.