FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF 97 MILLION FOR THE 4TH QUARTER 2016

HIGHLIGHTS FOR THE QUARTER 

  • Revenues were 157 million
  • EBITDA were 97 million
  • Impairment of 11 million
  • Operating profit (EBIT) was 22 million
  • Profit before tax was 19 million
  • Earnings per share were 0.15
  • Covenant waiver request approved by the banks

Post quarter event

  • Contract extension for Bideford Dolphin
  • Contract extension for Blackford Dolphin
  • Waiver request for the bond loan FOE05 approved by the bondholders

About Us

Fred. Olsen Energy ASA (the Company) is listed on the Oslo Stock Exchange and provides exploration and production services to the offshore oil and gas industry building on 150 years experience in shipping and more than 35 years in offshore drilling. The Company focuses on rewarding long term customer relationships where innovative and integrated solutions are presented to the benefit of our customers, shareholders and employees.

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