https://newsweb.oslobors.no/message/583445
Financial Report 4th quarter 2022 for DOF Subsea AS
The Group’s operating revenue for the 4th quarter (management reporting) was NOK 2,537 million (NOK 2,096 million in Q4 2021) and the operating profit before depreciation and impairment (EBITDA) was NOK 892 million (NOK 609 million).
The average utilisation of the Group's fleet during the 4th quarter was 96%; 94% for the Subsea/IMR Projects fleet and 99% for the Long-term Chartering fleet.
The Group has a firm backlog of approximately NOK 12.6 billion.
Please see enclosed the 4th quarter 2022 Financial Report.

Page 7
The fair market values of the Group’s vessels received
from two independent companies have increased with 4%
(before currency effects) in the quarter. VIU calculations
and updated broker estimates indicate reversal of previous
impairment on certain vessels. However, due to the financial
situation of the Group and that the debt restructuring has
not yet been completed any reversal of impairment has
not yet been booked. Impairment booked in the period
relates to some old subsea equipment which are scrapped.