Financial Report 3rd quarter for Golden Energy Offshore Services ASA

20 Nov 2024 08:50 CET

Ålesund 20.November 2024

Golden Energy Offshore Services ASA (GEOS) is pleased to report total revenues
of NOK 130 million compared with NOK 52.8 million in the same quarter last year,
146 % increase.
EBITDA of NOK 54.9 million for Q3 2024, compared with NOK 15.2 million in Q3
2023, which is an NOK 39.7 million increase. Backlog of NOK 252 million firm
and options of NOK 343 million. Average utilization of the fleet was 95.% and
average time-charter equivalent earnings (TCE) were approx. NOK 234 000 per day
for the fleet.

The Group operated seven PSVs in the market, with all vessels acquired at the
end of 2023 performing successfully throughout 2024. Activity levels remained
high this quarter, continuing the momentum from Q2. Operations have been strong
over the summer, and we’re pleased to report that this increased activity has
translated into substantial improvements in our financial results.

Basic earnings per share in Q3 2024 was NOK 0.83 compared to NOK -0,45 in Q3
2023.


For further information please contact.

Per Ivar Fagervoll
CEO
email pif@geoff.no
Phone +47 97428884

More information:
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632707_GEOS FS - Q3 2024 - 20112024.pdf