Norway: Rem Offshore Announces 3Q Results

Rem Offshore ASA has 9 modern vessels in operation. In addition the company has 5 vessels under construction.

Rem Offshore ASA had operating revenues of NOK 138.9m in Q3 2010 (NOK 104.5m in Q3 2009). Operating profit before depreciation (EBITDA) in Q3 was NOK 83.7m (NOK 56.5m). Profit after tax in Q3 was NOK 63.0m (NOK 50.0m).

At 30.09.10, the company`s operating income amounted to NOK 336.3m (NOK 588.3m, including capital gains of NOK 268.8m). EBITDA at 30.09.10 was NOK 189.0m (NOK 443.7m) and profit after tax was NOK 92.2m (NOK 418.5m).