Fred Olsen Energy Q1

Revenues 2 108 million NOK (+80%)

Operating profit 1 199 million NOK (+147%)

Net cash flow from operating activities 1 311 million NOK (+72%)

Net result 1 114 million NOK (+111%)

Net margin 53%

EPS 16.8 NOK (+112%)


Balance sheet

Assets
Current 5 950 million NOK
Total 15 927 million NOK

Liabilities
Current 2 165 million NOK
Total 9 544 million NOK

Equity 6 383 million NOK

P/E(TTM) 5.3, P/B 2.22

Outlook

-Lower oil price and tight credit market continues, with oil and gas
operators reducing costs and spending plans
-Proceed with existing rig commitments, with some seeking amendments
and sub-lets
-Operators seem to defer decisions on additional rig commitments
-The balance between supply and demand seems healthy in a longer
perspective

Report and a presentation with industry charts