Solstad Offshore ASA: Financial report for the 4[th] quarter 2023
- Solstad achieved a solid EBITDA margin of 46% in 4Q 2023.
- The CSV segment concluded a quarter with high utilization and improved commercial terms across geographical regions.
Operating income from continued operations for 4Q 2023 increased by 71 percent to MNOK 2,023 compared to MNOK 1,185 in 4Q 2022.
EBITDA adjusted from continued operations increased by 174 percent to MNOK 923 compared to MNOK 336 in 4Q 2022.
- High utilization of 94 percent for vessels in operation during the quarter.
Building a service division that enables an offering of additional services, such as ROVs, tooling, project personnel, engineering support. During 4Q, the Company established a management for the segment, and prepared for the investment program of 10 new work class ROVs.
The Refinancing of the Company, and the new group and ownership structure, was completed on 16 January 2024
Skudeneshavn, February 29[th], 2024
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89
Solstad Offshore ASA
www.solstad.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.