DOF Subsea Annual Report 2017

Please find enclosed the DOF Subsea Annual Report for 2017. 
>>> DOF Subsea Annual Report 2017 (PDF)

Mons S. Aase, CEO, stated: "2017 has been another challenging year for our industry with historically low demand for our services and vessels. The operating revenue for the year was NOK 4 550 million, down from NOK 5 426 million in 2016, and the EBITDA was NOK 1 408 million, down from NOK 1 901 million (figures according to management reporting). The decrease in the operating revenue and earnings was mainly driven by lower activity in the regions. Despite the challenging market conditions, we can look back at several highlights for the year with the commencement of several long-term IMR and charter contracts. The overall vessel utilisation for the year was 74 per cent and at year-end we had a strong firm backlog of NOK 16.1 billion."
 
For further information, please contact:  
Mons S. Aase, CEO, DOF Subsea. Tel: +47 91 66 10 12  
Marianne Møgster, SVP Finance, DOF Subsea. Tel: +47 99 30 69 16

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