Solstad Offshore ASA: First-quarter 2025 results

07 May 2025 07:00 CEST

Skudeneshavn, May 7th, 2025

· Adjusted EBITDA of USD 30 million, compared to USD 36 million same quarter
last year. 1Q 2024 included 16 days of Solstad Maritime until deconsolidation
16. January 2024
· Net Result of USD 24 million compared to USD 38 million in the same quarter
last year.
· Adjusted Net Interest Bearing Debt of USD 107 million giving an Adjusted Net
Interest Bearing Debt / LTM Adjusted EBITDA of 0,8x
· Book equity at USD 311 million compared to USD 189 million in the same
quarter last year.
· Share of results from investment in associated companies and joint ventures;
· Solstad Maritime 27,3% USD 14,4 million
· Normand Installer AS 50% USD -2,2 million
· Omega Subsea AS 35,8% USD 1,3 million

· Based on the dividend announcement from Solstad Maritime, Solstad Offshore
will receive app. USD 9,5 million in the quarter.

· Solstad Offshore intends to initiate quarterly dividends in Q3 2025
· Associated company Solstad Maritime announced intention to list its shares
on Euronext Oslo Børs on or about 16[th] May 2025

· The Investment in Omega Subsea was completed in the quarter - this will
further strengthen Solstad Offshore's position in the subsea services segment

· Solstad Offshore is on track to meet previous adjusted EBITDA guiding for
the full year of USD 120-150 million.

· Solstad Offshore changed its presentation currency to USD from 1. January
2025

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 pursuant to section 5
-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

645471_Solstad_Offshore_Q1_2025_Presentation.pdf