Financial report for the 2nd quarter 2020
- Revenues for the second quarter of 2020 was MNOK 1,332 vs MNOK 1,372 in 2019, while EBITDA (adjusted) for the second quarter was MNOK 411 vs MNOK 440 in 2019
- Stable operational performance during the quarter
- Impairment of MNOK 960 in the quarter mainly driven by postponed market recovery
- Adjusted EBITDA improvement of MNOK 31 in 1H 2020 (MNOK 694 vs MNOK 663) compared to 1H 2019
- On May 8th, 2020, Solstad signed a Restructuring Implementation Agreement with a vast majority of its creditors for a financial restructuring of the Group
- There is a risk that COVID-19 pandemic and the low oil price will affect the Company’s performance
Skudeneshavn, August 31st, 2020
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89
Solstad Offshore ASA
www.solstad.com
This information is subject of the disclosure requirements according to § 5-5 (5) and § 5-12 of vphl (Norwegian Securities Trading Act).