Eidesvik Announces Operating Results

Eidesvik announces that the operating profit before depreciation (EBITDA) for Q4 2012 was MNOK 121,9 compared to MNOK 125,4 for the same period last year. Operating income was MNOK 223,7 compared to MNOK 244,3 for the same period last year. Profit for the quarter was MNOK 38,5 compared to MNOK -5,1 for the same period last year.

Operating profit before depreciation (EBITDA) for the whole year 2012 was MNOK 558,9 compared to MNOK 465,7 for 2011. The Operating income for 2012 was MNOK 980,5 compared to MNOK 999,6 for 2011. Profit for 2012 was MNOK 282,2 compared to MNOK 70,4 last year.

“Operating income, and consequently EBITDA in 4th Quarter are influenced by a weak spot market for our PSV’s in the North Sea. During the quarter we have entered into a new long term contract with Subsea 7 for the subsea vessel «Seven Viking». Further we have entered into a new contract with Statoil for the PSV «Viking Energy». The contract with the Leiv Eriksson Consortium for the two PSV’s «Viking Athene» and «Viking Lady» will commence primo April, so we expects a high utilization from 2nd Quarter and for the rest of 2013″, says Jan Fredrik Meling (CEO).

The Board of Directors will propose to the General Shareholders Meeting in May 2013 a dividend of NOK 1 pr. share.

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Press Release, February 26, 2013