SEVAN MARINE ASA - Fourth Quarter 2012 Results

Wed Feb 27, 2013 2:01am EST

* Reuters is not responsible for the content in this press release.

For best results when printing this announcement, please click on the link below:

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

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

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: 

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


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 
Fourth Quarter 2012 Report 


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Sevan Marine ASA via Thomson Reuters ONE