Eidesvik Offshore (EIOF) Pareto Securities' 33nd Annual Energy Conference presentation summary

Operational highlights

• Achieved high vessel utilization rates, reaching 97% in FY2025 and 95% in H1 2026.

• Secured new contracts and extensions, including a four-year frame agreement with Aker BP and a management extension for Viking Neptun to July 2029.

• Delivered Cecon Vigor from Sefine Yard and commenced management agreement.

• Sold Viking Reach, expecting NOK 80 million gain and NOK 160 million in cash proceeds.

Financial performance

• FY2025 revenue reached NOK 785 million, with EBITDA at NOK 294 million and an EBITDA margin of 37%.

• Equity ratio remained strong at 58% in FY2025 and 59% in H1 2026.

• NIBD/adj. EBITDA increased to 3.1x in FY2025 and H1 2026 due to newbuild program.

• Freight revenue in Q2 2026 benefited from improved supply vessel rates.

Fleet renewal and sustainability

• Two newbuild vessels with 150t cranes and green technology to enter market in 2027, secured on long-term contracts.

• Project Apollo: ammonia retrofit for Viking Energy aims for over 70% CO2 reduction and NOx emissions below 2.4 g/kWh.

• Continued focus on emission reduction and dual-use capabilities for offshore renewables.