DOF ASA (DOF) 🚢

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DOF Group ASA - Project award

DOF has been awarded a contract by Altera Infrastructure to install one FPSO
(Floating Production, Storage and Offloading unit) and one FSO (Floating Storage
unit) for the phase 2 development of the Baleine field in Cote d’Ivoire, West
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Africa, operated by Eni with Petroci Holding as partner.

The project includes the complete installation of seabed mooring systems,
flowline between FSO and FPSO, and associated equipment.

DOF`s contract scope includes project management, engineering, transportation,
installation and hook-up of floating units in the field. DOF shall mobilize
Skandi Skansen to the project, totaling more than 130 vessel days.

“This award recognizes DOF`s solid performance within installation of floating
units. We look forward to executing the project safely and successfully”, says
Mons S. Aase, CEO in DOF Group.

Project Management and engineering will commence immediately from DOF`s offices
in Bergen, Norway and Aberdeen, Scotland. Offshore operations are planned to
take part from Q3, 2024.

For further information, please contact:

Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA

Phone: + +47 916 21 057

E-mail: martin.lundberg@dof.com

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, survey, remote intervention
and diving operations primarily for the oil and gas sector. From PSV charter to
Subsea engineering, DOF offers a full spectrum of top quality offshore services
to facilitate an ever-growing and demanding industry. The Company’s main
operation centres and business units are located in Norway, the UK, the USA,
Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[TekBot]

DOF Group ASA - Contract Award and Contract Extension in APAC

DOF is pleased to announce a contract award and a contract extension securing
further backlog for the APAC region.

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The latest contract secured for the region will utilise Skandi Hercules and see
the vessel fully utilised off the Australian coast into Q3?2024. The contracted
scope includes project management and engineering, logistics support and
execution of various inspection, maintenance, and repair (IMR) activities.

In addition, a contract extension has been secured for Skandi Singapore with the
vessel fully committed through Q3?2024 with further options available into
Q1?2025.

The combined value is in excess of USD 20 million for the firm part.

Mons Aase, CEO DOF Group ASA, said: “I am very pleased with these awards
bringing the APAC region close to full utilisation for first half 2024 at
improved rates and margins.”

For further information, please contact:

Martin Lundberg, SVP Finance, and Investor Relations DOF Group ASA

Phone: +47 91 62 10 57

E-mail: martin.lundberg@dof.com

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, survey, remote intervention,
and diving operations primarily for the oil and gas sector. From PSV charter to
Subsea engineering, DOF offers a full spectrum of top-quality offshore services
to facilitate an ever-growing and demanding industry. The Company’s main
operation centres and business units are in Norway, the UK, the USA, Singapore,
Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[aksjewonka]

Fy faen så dyktig denne gjengen er på kontrakter.

[TekBot]

DOF Group ASA - CFO stepping down, Head of Investor Relations to take over

Hilde Drønen, CFO of DOF Group ASA, has decided to step down from her role by
the end of 2024. Drønen has served the position as CFO since 2005.

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Martin Lundberg, SVP Finance and Head of Investor Relations, will be appointed
as the new CFO for the Group and will work closely with Mrs. Drønen until the
end of the year.

CEO Mons S. Aase says: “I’ve been working together with Hilde for more than 25
years and I am thankful for her huge contribution and capacity through all these
years. Hilde has provided the company with strong financial leadership and has
been instrumental in positioning DOF for long-term success and especially
through the recent financial restructuring”.

Hilde Drønen says: “It has been an exciting journey working for DOF and I feel
privileged and proud being part of the DOF team. I am very confident that Martin
is the right person in his new role due to his extensive knowledge and
experience in DOF.”

Lundberg joined DOF in 2010. He was promoted to CFO DOF Subsea from January 2021
until being appointed SVP Finance/Head of IR in 2023.

We will soon start the search for a replacement for Mr. Lundberg as Head of IR
and any candidates are welcome to contact Mrs. Drønen (+47 91661009) or Mr.
Lundberg (+47 91621057).

For further information please contact: Mons Aase, + 47 91661012

About DOF Group ASA:
With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry. The Company’s main operation
centers and business units are located in Norway, the UK, the USA, Singapore,
Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[Metallian]

Rar utvikling utover dagen her

[ullke]

Noen som har en god analyse av hvorfor DOF faller kraftig på inflasjonstallene fra USA?

[aksjewonka]

Fordi alt faller

[TekBot]

Invitation to presentation of Q4 2023 results

DOF Group ASA will present the Q4 results on Friday 23rd of February 2024. The
report will be available at www.dof.com and www.newsweb.no.

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The presentation of the quarterly results will be held at 08:30 CET at Norges
Rederiforbund, Rådhusgaten 25, 7th floor, Oslo, and as a webcast at the same
time on: https://www.dof.com/webcast

The presentation will be held by Chair of the Board Svein Harald Øygard, CEO
Mons S. Aase and CFO Hilde Drønen.

Due to practical reasons, we ask those of you interested in attending the
presentation at Norges Rederiforbund to please register to Margrethe R.
Østervold, e-mail mro@dof.com, within Wednesday 21st of February.

For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA
With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry.
The Company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[TekBot]

DOF Group ASA - Contract extension

DOF Group is pleased to announce that an option has been exercised for the
vessel Skandi Africa. The firm commitment now runs until February 2026.

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For further information, please contact:

Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA

Phone: + +47 916 21 057

E-mail: martin.lundberg@dof.com

About DOF Group ASA:
With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry. The Company’s main operation
centers and business units are located in Norway, the UK, the USA, Singapore,
Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[Metallian]

We have turned increasingly positive on the subsea

market outlook for DOF, backed by recent contracts for it

and peers. Our 2025e EBITDA is 5% above consensus

and we believe net debt/EBITDA of 1.2x at end-2025e

should make the next refinancing smooth sailing and

leave it well placed to pay dividends. We have updated

our valuation of the PLSVs, as we expect their contracts

with Petrobras to be extended at solid rates, giving longterm visibility. We reiterate our BUY and have raised our

target price to NOK85 (70)

[TekBot]

DOF Group ASA - Project award

DOF has been awarded a contract by an international energy operator to repair an
export cable for an offshore wind farm in Southern North Sea.

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The project includes the retrieval of the damaged cable and termination,
installation, trenching and commissioning of the replacement cable.

DOF’s contract scope includes project management, engineering, procurement and
logics of cable and all associated equipment as well as the complete offshore
works.

Preparations have already commenced from DOF’s expert cable team across
Aberdeen, Scotland and Bergen, Norway. Offshore execution is planned from March
and onwards. The vessel Skandi Hera is scheduled as the installation vessel.

The value of the project is approximately USD 13 million.

DOF’s group CEO Mons S. Aase says, “This award demonstrates trust in DOF’s cable
solutions within the renewable energy segment. We look forward to executing this
highly important project to our highest standards”.

For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA:
With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry. The Company’s main operation
centers and business units are located in Norway, the UK, the USA, Singapore,
Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[TekBot]

Financial Report 4th quarter for DOF Group ASA

The Group’s revenue for 4th quarter (management reporting) totals NOK 3,449
million (NOK 3,204 million) and EBITDA totals NOK 1,241 million (NOK 1,125
million). The operating profit (EBIT) of NOK 2,215 million (NOK 1,548 million)
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is highly impacted by reversal of impairment of NOK 1,479 million (NOK 687
million). Net financial cost amounts of NOK 139 million (NOK 223 million)
include unrealised currency gain of NOK 372 million (NOK 1,047 million). The
result after taxes is NOK 2,768 million (NOK 1,806 million). The Group’s net
interest-bearing debt is NOK 13,883 million (NOK 19,915 million) and the book
equity is NOK 10,522 million (NOK 364 million).

Key highlights:
. Another strong quarter, where the Group achieved an EBITDA of NOK 1,241
million (NOK 1,125 million) and a cash flow from operating activities of NOK
1,111 million (NOK 1,553 million).
. The annual EBITDA was NOK 4,949 million (NOK 3,764 million) and the cash
flow from operating activities was NOK 4,090 million (NOK 3,777 million).
. By 31.12.2023 the equity ratio is 34% (1%) and NIBD/EBITDA 2.8 (5.4).
. The average utilisation of the owned fleet was 91% (88%) in the quarter.
. The markets in the Group’s regions are good and the activity in Asia
-Pacific has particularly increased during the 4th quarter.
. The Group has chartered in the subsea vessel Maersk Installer on a 2-year
firm charter to serve the increased demand in the subsea project segment.
. Three PSVs, have been sold in the quarter.
. The total current fleet includes 57 vessels (incl. 12 vessels on management
or hired in):
o 16 AHTSs, 11 PSVs and 30 Subsea vessels.
. In January, the DOF Group has been ranked among the best companies with the
2nd highest score in the Petrobras PEOTRAM 2023 audit and retained its A- score
on the CDP Climate Change 2023.
. The order intake in 4th quarter is USD 147 million.
. Firm backlog by end December of USD 1,946 million.

The Group will report in USD from the 1st quarter 2024 and onwards.

Statement from the CEO, Mons Aase: “We deliver another solid quarter and are
experiencing continued strong markets within all fleet segments, and I am
especially pleased to see an increasing activity in the Asia-Pacific region. The
Group has again achieved a high score in the Petrobras Peotram audit which is a
confirmation of the high quality of our operations in Brazil. We expect the
backlog to continue to grow due to several ongoing tenders. We see increased
activity within the AHTS segment and expect more firm contracts going forward.
The current backlog for the Group is 84% for 2024 which gives good visibility of
the earnings in 2024. The EBITDA guiding for 2024 is in the range of USD 470-520
million”.

Please see enclosed 4th quarter Financial Report 2023.
Webcast is available Friday, 23rd of February at 08:30 on www.dof.com/webcast.

For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA:
With a multi-national workforce of about 4,000 personnel, DOF Group ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology,
and capacity. DOF’s core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, intervention, and diving
operations primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore services to
facilitate an ever-growing and demanding industry. The Company’s main operation
centers and business units are located in Norway, the UK, the USA, Singapore,
Brazil, Argentina, Canada, Angola, and Australia.

Kilde

[Investor]

4 mrd på bunnlinje i 2023 og market cap 11,2! Her er det bare å holde. Utbytter i 2025?

[Metallian]

Må refinansiere førs og lånene løper til 26 så tviler på det blir før det

[Metallian]

Presentasjon 8:30

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240223_3

[Metallian]

Positiv til offshore-aksje: – Fortsatt blant våre toppvalg

[Metallian]

Oppsummerer:

DNB 85 uendret

Pareto fra 72 til 80

SB1M fra 73 til 77

Fearnley fra 88 til 93

Carnegie fra 80 til 100

[Metallian]

Hva tror vi om denne? Frea FA:

"Blokksalg

Klokken 14.59 ble det registret et stort blokksalg i DOF Group på 4 millioner aksjer til en kurs på 63 kroner pr. stykk, eller 252 millioner kroner.

Aksjen falt 0,7 prosent til 65,00 kroner. Dermed er det snakk om en ørliten rabatt. Det er totalt syv aksjonærer som har en stor nok posisjon for et salg i denne størrelsesordenen, deriblant John Fredriksen, Arne Blystad og Eksportfinansiering Norge (Eksfin)."

[pg-san]

Tipper eksfin er de som selger.

Solgte 5mill aksjer for 1 mnd siden, og tipper det er en del av strategien dems mtp. Gevinstsikring. Tipper de selger seg videre ned når kursen nærmer seg 70kr.

Men selvsagt ren spekulasjon fra min side.

[Metallian]

ABG Sundal Collier og Aker Horizons ut av OSEBX-indeksen - E24 Børs