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11/07-2018 08:00:15: (FOE) Report for the 2nd quarter 2018 and the 1st half year 2018

Figures in USD

FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION
(EBITDA) OF -51 MILLION FOR THE 2ND QUARTER 2018 AND -20 MILLION FOR THE 1ST
HALF YEAR 2018

HIGHLIGHTS FOR THE 2ND QUARTER 2018

  ·
Revenues were 17 million

  ·
EBITDA was negative 51 million

  ·
Impairment of 97 million

  ·
Operating profit (EBIT) was negative 202 million

  ·
Profit before tax was negative 208 million

  ·
Earnings per share were negative 3.12

  ·
Blackford Dolphin commenced contract in May

  ·
The waiver with financial creditors expired end June

Post quarter event:

  ·
The Company stops its service of interest and amortizations to its financial
creditors to preserve l

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