02/15/2017

FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF 97 MILLION FOR THE 4TH QUARTER 2016

HIGHLIGHTS FOR THE QUARTER 

  • Revenues were 157 million
  • EBITDA were 97 million
  • Impairment of 11 million
  • Operating profit (EBIT) was 22 million
  • Profit before tax was 19 million
  • Earnings per share were 0.15
  • Covenant waiver request approved by the banks

Post quarter event

  • Contract extension for Bideford Dolphin
  • Contract extension for Blackford Dolphin
  • Waiver request for the bond loan FOE05 approved by the bondholders