Red Numbers for Eidesvik

Norwegian vessel owner Eidesvik Offshore has posted quarterly loss of NOK 51 million (approximately $28 million) or NOK 1.14 per share, against profit of NOK 135 million (approximately $65 million) or NOK 4.49 per share for the quarter that ended on March 31, 2017.

In the first-quarter 2018, Eidesvik generated revenues of NOK 101 million. Revenues in the corresponding period in 2017 were NOK 249 million.

The result is affected by lower rates and partly lower fleet utilization in all three Eiedesvik fleet segments.

  • Seismic segment’s EBITDA was NOK 3,9 million (NOK 91,2 million in the corresponding period in 2017);
  • Subsea/offshore wind segment’s EBITDA was NOK 16,7 million (NOK 66,4 million in the corresponding period in 2017);
  • The supply segment’s EBITDA was NOK ‐5,8 million (NOK 3,8 million in the corresponding period in 2017).

The company had no quarterly asset impairment charges, compared to impairment of NOK 66 million same time in 2017.

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