SEVAN MARINE ASA - Fourth Quarter 2012 Results

Wed Feb 27, 2013 2:01am EST

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Operating revenue from continued operations for fourth quarter 2012 amounted to USD 36.8 million.
EBITDA was negative with USD 2.5 million, and due to impairment charge of USD 51 million,
operating loss was USD 53.6. Net profit from continued operations was negative with USD 43.2
million. 

Equity at the end of fourth quarter 2012 amounted to USD 94.3 million and total assets continued
operations were USD 178.4 million.

Read more in the attached report.

Carl Lieungh (CEO) and Kjetil Vangsnes (CFO) will today at 1:00 p.m. (CET) give a presentation of
the results at Hotel Continental, Stortingsgaten 24/26, Oslo.

The presentation will be in English.

The presentation will also be broadcasted LIVE on http://www.sevanmarine.com/.

It is recommended that you log on to the webcast 5 minutes in advance of the presentation.

If you wish to attend the presentation in Oslo, please confirm by email: IR@sevanmarine.com 

If you wish to call-in to listen to the presentation, please find the call-in details attached.

 

The information in this announcement is subject to the disclosure requirements of the Norwegian
Securities Trading Act section 5-12 and/or the Oslo Børs - Continuing Obligations.

 

Sevan Marine ASA is specializing in owning, operating and licensing FPSOs, based on its patented
cylindrical floater technology. Sevan Marine ASA is listed on Oslo Børs with ticker SEVAN. For
more information, please refer to www.sevanmarine.com.

 

For more information please contact:

 

Marit Ytreeide, Press Contact (Media)
+47 901 28 308 mobile

 

Carl Lieungh, CEO, Sevan Marine ASA (Media)
+47 37 40 40 00 office

 

Kjetil Vangsnes, CFO, Sevan Marine ASA (Analysts)
+47 37 40 40 00 office
Call in Details http://hugin.info/135366/R/1681408/549695.pdf 
Fourth Quarter 2012 Report http://hugin.info/135366/R/1681408/549691.pdf 


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Source: Sevan Marine ASA via Thomson Reuters ONE


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