EIOF - Report for Q3 2022

15 Nov 2022 17:00 CET

Eidesvik Offshore ASA is pleased to report its Q3 group results. The report is
attached to this notification and available for download from the company’s
website https://www.eidesvik.no.

Revenue from Q3 was at the highest level in a quarter since 2016. EBITDA margin
for the quarter was 48%.

The award of multiple new contracts is securing long term utilization for our
vessels.

Revenue for Q3 2022 was MNOK 190.4 compared to MNOK 174.8 in Q3 2021, EBITDA was
MNOK 91.0 compared to MNOK 81.5 in Q3 2021.

Operating profit was MNOK 262.9 and net profit was MNOK 162.8. Reversal of
previous impairment on vessels of net MNOK 209.2 together with improved
operating results drove the profit margin upwards.

Bømlo, November 15, 2022

Contacts:
CEO Gitte Gard Talmo (+47 915 23 245)
CFO Helga Cotgrove (+47 907 35 246)


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

575815_EIOF Q3-2022.pdf