DOF ASA (DOF) 🚢

TekBot · november 4, 2024, 8:54am

Disclosure of large shareholding

TekBot · november 4, 2024, 10:14am

Correction: Disclosure of large shareholding

Oslo, 4 November 2024, Notification of trade

In connection with the settlement of the acquisition of Maersk Supply Service A/S, DOF Group ASA (the “Company”), issued 61,569,664 new shares in the Company on 1 November 2024. Geveran Trading Co. Ltd. owns 18,550,894* shares in the Company which, following the share issuance, represents a total of 7.53* % of the Company’s issued shares and voting rights (based on 246,278,655 shares issued by the Company).
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This disclosure is made pursuant to section 4-2 of the Norwegian Securities Trading Act and is subject to the disclosure requirement pursuant to section 5-12 of the Norwegian Securities Trading Act.

'*The original announcement contained incorrect information concerning Geveran’s shareholding and the subsequent ownership percentage. The information has been updated in this announcement.

Kilde

TekBot · november 5, 2024, 2:09pm

DOF Group ASA - Approval and publication of prospectus

Austevoll, 5 November 2024: Reference is made to the stock exchange announcement
made by DOF Group ASA (“DOF” or the “Company”) on 2 July 2024 in which it was
announced that DOF, through DOF Offshore Holding Denmark ApS on certain terms
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and conditions would acquire all the shares in Maersk Supply Service A/S
(renamed to DOF Denmark A/S on the date hereof)(“MSS”) from Maersk Supply
Service Holding ApS (“MSSH”) (the “Transaction”). Reference is further made to
the stock exchange announcement by the Company on 1 November 2024 in which it
was announced that (i) the Transaction had been completed, and (ii) the board of
directors of the Company had resolved to issue 58,883,073 consideration shares
(the “Consideration Shares”) and 2,686,591 new shares (the “New Shares”) to
MSSH, in order settle part of the purchase price under the Transaction.

The Consideration Shares and the New Shares issued to MSSH to settle the
Company’s obligation under the Transaction have been delivered on a separate
ISIN pending publication of a listing prospectus (the “Prospectus”) approved by
the Financial Supervisory Authority of Norway (Nw.: Finanstilsynet).

The Financial Supervisory Authority of Norway has today, on 5 November 2024,
approved a prospectus (the “Prospectus”) for the listing of the Consideration
Shares and the New Shares on the Oslo Stock Exchange.

The Prospectus will, subject to regulatory restrictions in certain
jurisdictions, be available on the Company’s website, www.dof.com.

The Consideration Shares and the New Shares will be delivered to the ordinary
ISIN of the Company and become tradable on the Oslo Stock Exchange under the
ticker “DOFG”.

For further information, please contact:

Martin Lundberg, SVP Finance DOF Group ASA
Phone: +47 91 62 10 57
E-mail: martin.lundberg@dof.com

Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
E-mail: eirik.vardoy@dof.com

Important notice:

This announcement is not being made in or into the United States of America,
Canada, Australia, Japan, Hong Kong or in any other jurisdiction where it would
be prohibited by applicable law. This distribution does not constitute or form
part of an offer or solicitation of an offer to purchase or subscribe for
securities in the United States. The shares referred to herein have not been and
will not be registered under the United States Securities Act of 1933, and may
not be offered or sold in the United States or to U.S. persons (other than
distributors) unless the securities are registered under the Act, or an
exemption from the registration requirements of the Act is available.

About DOF Group ASA:

With a multi-national workforce of more than 5,000 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, Denmark, the UK, the USA,
Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

TekBot · november 6, 2024, 7:01pm

DOF Group ASA - Financial Report for 3rd quarter 2024

DOF Group ASA’s (“DOF” or the “Group”) revenue for 3rd quarter (management
reporting) totals USD 376 million (USD 322 million) and EBITDA totals USD 141
million (USD 123 million). The operating profit (EBIT) is USD 88 million (USD 85
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million). Net financial costs amount to USD -9 million (USD -52 million)
including unrealised currency gain of USD 17 million (USD -24 million). The
result after taxes is USD 69 million (USD 27 million). The Group’s net interest
-bearing debt is USD 1,143 million (USD 1,372 million). The equity is USD 1,195
million (USD 749 million) giving an equity ratio of 39% (27%).

Key highlights in 3rd quarter:

· The Group achieved an EBITDA of USD 141 million (USD 123 million).
· The net profit was USD 69 million (USD 27 million) and has been positively
impacted by an unrealised non-cash currency gain of USD 17 million (USD -24
million) due to a strengthened BRL to USD in the quarter.
· The Group’s cash flow from operating activities was USD 124 million (USD 141
million) in the quarter.
· The equity ratio has improved from 27% to 39% due to strong results the last
12 months and a private placement of USD 75 million in July.
· The Net interest-bearing debt (NIBD) has been reduced from USD 1,372 million
to USD 1,143 million. The NIBD/LTM EBITDA by end September is 2.3x (3.0x)
· The average utilisation of the fleet has been 92% (85%) in the quarter.
· The performance has been good in the APAC, North America and the Atlantic
regions, and stable in Brazil.
· The total fleet consists of 57 vessels (incl. 14 vessels on management or
hired in):
· 16 AHTSs, 10 PSVs and 31 Subsea vessels.

· The order intake in 3[rd] quarter was USD 0.5 billion.
· Firm backlog by end September is USD 2.75 billion (USD 2.1 billion). Order
intake after balance date is approximately USD 90 million.
· The Group has on 1[st] of November completed the acquisition of Maersk
Supply Service A/S (“MSS”) which has been renamed to DOF Denmark A/S and will be
incorporated in the accounts from 1[st] of November.

Note: all numbers commented above are based on management reporting

Statement from the CEO

"After completion of the MSS acquisition, we look forward to further developing
the DOF Group with an advanced fleet of CSVs and high-end AHTS vessels and the
combined competence and capabilities in DOF and MSS. Our main focus now is to
ensure a good integration process of the two companies with a common target to
deliver world-class services to our customers.

I am further pleased to see the continuing good performance from our subsea
regions and am optimistic that the Group’s subsea project activity will continue
to grow both due to the recent awarded contracts and ongoing tenders. The
activity in the North Sea spot market for AHTS and PSV has slowed down the last
two months especially on the UK sector, but we see the opposite in Brazil where
Petrobras is out with several tenders and also in Asia-Pacific where we recently
were awarded another very good PSV contract.

The expected improved earnings in the second half are confirmed by the 3[rd]
quarter result, hence we change the EBITDA guiding to USD 510-520 million.?The
uncertainty in 4[th] quarter is limited as the reported backlog for 4[th]quarter
is higher than the reported revenue in 3[rd] quarter.

With reference to our Capital Markets Day in September, we have now started the
refinancing process of the Group to position the Company with the target to pay
dividends from 2[nd] quarter 2025 and onwards. The progress is good and strong
indications of interest from banks to participate in the refinancing."

Please see enclosed 3rd quarter Financial Report 2024.

A webcast, followed by a Q&A session, will be available Thursday, 7[th] of
November at 08:30 CET on www.dof.com/webcast.

For further information, please contact:

Martin Lundberg, SVP Finance DOF Group ASA
Phone: +47 91 62 10 57
E-mail: martin.lundberg@dof.com

Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
E-mail: eirik.vardoy@dof.com

About DOF Group ASA:

With a multi-national workforce of more than 5,000 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
centres and business units are located in Norway, Denmark, the UK, the USA,
Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

Metallian · november 6, 2024, 7:40pm

E24Bot · november 6, 2024, 7:46pm

Kraftig resultathopp for Dof

pg-san · november 6, 2024, 11:26pm

Ser de melder om 2 3års kontrakter for Skandi Jupiter og Mercury. Kan ikke huske å ha sett de ha blitt børsmeldt før så positivt med enda litt flere lange kontrakter.

Ellers solid rapport, bedre enn forventet faktisk. Håper de sier noe om Maersk båtene og kontraktene de har pdd på presentasjonen.

TekBot · november 12, 2024, 10:33am

DOF Group ASA - IMR Vessel and Subsea Services Contract Award in APAC

DOF Group ASA (“DOF”) is pleased to announce a contract award for IMR vessel and
associated subsea services in the APAC region.

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The contract will utilise one of DOF’s project vessels in the region and
includes project management, engineering, logistics support and all related
subsea activities. Offshore services are expected to commence in Q1 2025 for
approximately 150 days.

Mons Aase, CEO DOF Group ASA, said, “This award secures further backlog for the
APAC region with an estimated value of over AUD?20m. We look forward to
delivering a safe and successful project.”

For further information, please contact:

Martin Lundberg, SVP Finance DOF Group ASA

Phone: +47 91 62 10 57

E-mail: martin.lundberg@dof.com

Eirik Vardøy, Investor Relations DOF Group ASA

Phone: +47 94 83 64 64

E-mail: eirik.vardoy@dof.com

About DOF Group ASA:

With a multi-national workforce of more than 5,000 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
centres and business units are located in Norway, Denmark, the UK, the USA,
Singapore, Brazil, Argentina, Canada, Angola, and Australia.

Kilde

Metallian · november 12, 2024, 10:52am

1.1 millpr.dag inkl prosjektering/engineering.

Metallian · november 13, 2024, 9:42am

Skandi Singapore er båten, 2011 åt med 140t kran, det løfter mitt inntrykk av avtalen selv om det som “alltid” med Dofg er umulig å vurdere nøye pga inkluderte serviceelementer. Virker sterkt på meg.

Floppen · november 18, 2024, 7:58pm

Kloner denne som jeg postet i SOFF-tråden:

Litt om ambisjonene til Petrobras.

Metallian · november 18, 2024, 8:23pm

Meget relevant for både Dofg og Soff ja