SOLID OPERATION IN EIDESVIK - 1Q 2012

5/14/2012 10:58 AM EST

Freight income was NOK 220,5 mill, which represents a
decrease from NOK 247,5 mill for the 1st Quarter last
year. Operating result before depreciations (EBITDA)
for the 1st quarter of 2012 was NOK 114,9 mill
compared to last year's NOK 107,8 mill.
 
"The decrease in freight income is in the main caused
by change in contracts for the seismic vessels, were
all contracts have changed from Time Chart to Bareboat
contracts. Our operation has been good and resulted in
an increased Operation result before depreciations
compared to last year", says Jan Fredrik Meling (CEO).

Enclosed please find the 1st Quarter 2012 report and
presentation for Eidesvik Offshore ASA.

Contact CEO Jan Fredrik Meling, tel (+47)91 67 51 19