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>

<< Jan 2018 >>
MTWTFSS
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

Subsea Expo 2018

The largest wholly-focused subsea event in Europe, Subsea Expo is organised by industry body Subsea UK…

read more >

8th Myanmar Oil, Gas & Power Summit

The Myanmar Oil and Gas Summit is the longest established Oil & Gas event in Myanmar. Every year the event is attended by government…

read more >

European Gas Conference 2018

The European Gas Conference celebrated its tenth anniversary amid an air of increasing optimism following considerably shifting markets in the last few years…

read more >

SPE/IADC Middle East Drilling Technology Conference and Exhibition

The theme for this conference is “Building on Today’s Efficiencies for Tomorrow’s Market.” This will be the basis for the technical agenda…

read more >