Eidesvik Offshore
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Eidesvik Offshore (EIOF) investor relations material

Eidesvik Offshore Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary12 Nov, 2026

Executive summary

  • Q3 revenue was NOK 202.5m and EBITDA NOK 85.5m, with a 42.2% margin; fleet utilisation was 97% and technical uptime 100%.

  • No lost-time incidents occurred in Q3; two LTIs were recorded YTD.

  • Backlog including the share of JVs was NOK 2,844m; renewable projects represented 36% of fixed backlog.

Financial highlights

  • Q3 revenue was NOK 202.5m vs NOK 204.6m YoY; EBITDA was NOK 85.5m vs NOK 87.6m.

  • Operating result was NOK 45.1m vs NOK 41.0m; pre-tax result was NOK 66.5m vs NOK 44.9m, aided by positive currency effects.

  • YTD revenue was NOK 592.2m vs NOK 601.9m; EBITDA was NOK 214.6m vs NOK 236.2m, with margin at 36% vs 39%.

  • Q3 operating expenses were NOK 117.0m, flat YoY; personnel costs rose 7.7%, while other operating costs fell 18.5%.

Outlook and guidance

  • Viking Queen secured a firm one-well contract estimated at ~290 days, starting early 2027, with extension options; Viking Avant's firm period with Equinor runs through end-2027, with an option to extend.

  • Viking Vigor is expected to be delivered in Q1 2027; the Viking Energy ammonia-enabled dual-fuel retrofit with Equinor is progressing.

  • Forward contracting and improved rates for quality tonnage are emerging for 2027 and beyond; H2 2026 is more transitional than anticipated.

  • The Viking Reach sale is expected to generate a gain of NOK 75–80m in Q4 2026, with estimated net cash proceeds of NOK 185m.

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Frequently asked questions

Eidesvik Offshore ASA provides maritime services to the oil, gas, and renewable energy sectors. The company specializes in offshore supply, subsea, and seismic operations, offering advanced vessels designed to support various offshore activities. Its fleet includes platform supply vessels (PSVs), subsea vessels, and seismic ships, which are equipped to handle complex operations such as oilfield services, underwater construction, and survey activities. Eidesvik Offshore focuses on incorporating environmentally sustainable technologies, particularly in vessel design and operations, to reduce emissions and energy consumption in its maritime services. The company is headquartered in Bømlo, Norway, and its shares are listed on the Oslo Stock Exchange.