Report for the 2nd quarter 2016 and the 1st half year 2016

Figures in USD

FRED.OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF 143 MILLION FOR THE 2nd QUARTER 2016 AND 282 MILLION FOFR THE FIRST HALF YEAR 2016.

HIGHTLIGHTS FOR THE 2nd QUARTER 2016

  • Revenues were 219 million
  • EBITDA was 143 million
  • Impairment of 159 million
  • Operating profit (EBIT) was negative 96 million
  • Profit before tax was negative 107 million
  • Earnings per share were negative 1.7
  • Repayment of bond loan FOE 04 in May 2016
  • Statoil suspends Bideford Dolphn for third quarter 2016 

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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