Eidesvik Boosts Earnings

Norwegian vessel owner Eidesvik Offshore has posted quarterly profit of NOK 201 million (approximately $26 million) or NOK 6.54 per share, against loss of NOK 27 million (approximately $3.5 million) or NOK 0.74 per share for the quarter that ended on June 30, 2016.

Result for the first six months of 2017 was profit of NOK 336 million on revenues of NOK 465 million, compared to profit of NOK 93 million on revenues of NOK 373 million in the prior-year comparable period.

In the second quarter 2017, Eidesvik generated revenues of NOK 216 million. Revenues in the corresponding period in 2016 were NOK 180 million. The revenues includes a remainder settlement of contract change for Viking Vanquish of NOK 72 million.

EBITDA was NOK 126 million, versus approximately NOK 90 milliuon, and operating profit (EBIT) was NOK 243 million, compared to NOK 35 million after impairments.

The company booked quarterly asset impairment charge of NOK 23 million. Year-to-date impairments amounted to NOK 89 million.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Oct 2017 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

BLACK SEA OIL AND GAS

Black Sea region continues to impose as a key area for the future of energy in Europe in reaching the diversification of supply and the energy…

read more >

SUBSEA POWER CABLES

2-day seminar covering best practice and emerging technologies for cost-efficient subsea cable projects from conception to installation…

read more >

24th Annual Africa Oil Week 2017

The Conference portraying five days of senior-level executive insights, with rich-content on corporate strategies and portfolio, exposure…

read more >

OTC Brasil 2017

OTC Brasil is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >