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Report for the 2nd quarter 2018 and the 1st half year 2018

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Figures in USD

FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF -51 MILLION FOR THE 2ND QUARTER 2018 AND -20 MILLION FOR THE 1ST HALF YEAR 2018

HIGHLIGHTS FOR THE 2ND QUARTER 2018

  • Revenues were 17 million

  • EBITDA was negative 51 million

  • Impairment of 97 million

  • Operating profit (EBIT) was negative 202 million

  • Profit before tax was negative 208 million

  • Earnings per share were negative 3.12 

  • Blackford Dolphin commenced contract in May

  • The waiver with financial creditors expired end June

Post quarter event:

  • The Company stops its service of interest and amortizations to its financial creditors to preserve liquidity

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