New Risk • Jul 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 16
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: US$105.0m (up 35% from 2Q 2025). Net income: US$38.0m (flat on 2Q 2025). Profit margin: 36% (down from 49% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 2.4%. Duyuru • Jul 15
Solstad Offshore ASA Approves Cash Dividend for the Second Quarter of 2026, Payable on or About 29 July 2026 Solstad Offshore ASA announced the Board of Directors had resolved to distribute a cash dividend of USD 0.15 per share for the second quarter of 2026 to its shareholders, totalling approximately USD 12.4 million, based on the authorization approved by the General Meeting on 13 May 2026. Last day of trading in the Solstad Offshore ASA share inclusive of the right to receive the dividend is 16 July 2026. Ex-date is 17 July 2026. Record date is 20 July 2026. Distribution date is on or about 29 July 2026. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €5.58, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Energy Services industry in Europe. Total returns to shareholders of 195% over the past three years. New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Duyuru • May 22
Solstad Offshore ASA Approves Cash Dividend Solstad Offshore ASA at its shareholders meeting held on May 13, 2026, approved cash dividend of USD 0.10 per share. The dividend will be paid in NOK. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Director Per Sortland was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 09
Solstad Offshore Asa Proposes Cash Dividend for the First Quarter 2026, Payable on or About 27 May 2026 The board of directors of Solstad Offshore ASA announced that it intends to distribute a cash dividend of USD 0.1 per share to its shareholders for the first quarter 2026, totalling approximately USD 8 million. Such distribution is subject to a formal decision by the Board of Directors, expected 15 May 2026, which in turn is dependent on the approval by the General Meeting on 13 May 2026 of (1) the annual accounts for 2025 and (2) an authorization to Board of Directors to distribute dividends. Key information relating to the cash dividend is set out below: Ex-date: 18 May 2026, Record date: 19 May 2026, Distribution date: On or about 27 May 2026, Date of approval: 15 May 2026. Duyuru • Mar 10
Solstad Offshore ASA Approves Cash Dividend, Payable on or About 13 March 2026 Solstad Offshore ASA at its extraordinary general meeting held on 9 Mars 2026 approved that the company shall distribute a dividend in cash of USD 0.050 per share, totalling USD 4,117,339,75, based on the Company's audited interim balance statement with a balance date of 30 November 2025, to shareholders as per 9 March 2026, as recorded in the VPS on 11 March 2026. The shares in the Company are thus traded without the right to receive the dividend as of 10 March 2026. The dividend will be charged to the Company's share premium reserve and is expected to be paid on or about 13 March 2026. Duyuru • Feb 16
Solstad Offshore ASA Proposes Cash Dividend for the Fourth Quarter of 2025, Payable on or About 13 March 2026 Solstad Offshore ASA proposed at its EGM to be held on 9 March 2026 to distribute a cash dividend of USD 0.05 per share to its shareholders for the fourth quarter of 2025, in total approximately USD 4 million. The proposal, including an interim balance sheet with balance date 30 November 2025, is subject to the approval by the company's general meeting. Ex-date: 10 March 2026, Record date: 11 March 2026, Distribution date: On or about 13 March 2026. Duyuru • Jan 10
Solstad Offshore ASA, Annual General Meeting, May 13, 2026 Solstad Offshore ASA, Annual General Meeting, May 13, 2026. Duyuru • Oct 30
Solstad Offshore ASA Proposes Cash Dividend Solstad Offshore ASA announced that proposal to distribute cash dividend of USD 0,05/share, totaling approximately USD 4 million, to be approved in an extraordinary general meeting. Duyuru • Feb 13
Solstad Offshore ASA to Distribute Dividend for Fourth Quarter of 2024 Solstad Offshore ASA intends to distribute dividend for fourth quarter of 2024 of NOK 0.50 per share. Duyuru • Dec 11
Solstad Offshore ASA, Annual General Meeting, May 15, 2025 Solstad Offshore ASA, Annual General Meeting, May 15, 2025. Duyuru • Dec 10
Solstad Offshore ASA to Report Q4, 2024 Results on Feb 12, 2025 Solstad Offshore ASA announced that they will report Q4, 2024 results on Feb 12, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr766.0m (down 53% from 3Q 2023). Net income: kr173.0m (up 172% from 3Q 2023). Profit margin: 23% (up from 3.9% in 3Q 2023). Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Energy Services industry in Europe. Reported Earnings • Jul 17
Second quarter 2024 earnings released: kr0.005 loss per share (vs kr1.97 profit in 2Q 2023) Second quarter 2024 results: kr0.005 loss per share (down from kr1.97 profit in 2Q 2023). Revenue: kr746.3m (down 61% from 2Q 2023). Net loss: kr426.0k (down 100% from profit in 2Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 188 percentage points per year, which is a significant difference in performance. Duyuru • Jun 01
Solstad Offshore Asa Approves the Election of Members to the Nomination Committee On AGM held on May 30, 2024, the Solstad Offshore ASA approved the Election of Members to the Nomination Committee. Toril Eidesvik be replaced by Ingebret G. Hisdal in the Nomination Committee. All elected for a two-year period. Duyuru • May 18
Kistefos AS and Kistefos Investment AS File Class Action Claim Against Solstad Offshore ASA's Board Members and CEO and Aker Capital AS Kistefos AS and Kistefos Investment AS have notified that Kistefos has filed a class action claim against Solstad Offshore ASA board members and CEO and the company Aker Capital AS before Ringerike, Asker and Bærum District Court in order to seek compensation for the alleged losses incurred by Kistefos as a result of the refinancing. Aker Capital AS maintains that any such claim is without merit. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €4.08, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Energy Services industry in Europe. Total returns to shareholders of 541% over the past three years. Reported Earnings • May 04
Full year 2023 earnings released: EPS: kr3.64 (vs kr5.81 loss in FY 2022) Full year 2023 results: EPS: kr3.64 (up from kr5.81 loss in FY 2022). Revenue: kr6.73b (up 47% from FY 2022). Net income: kr285.2m (up kr732.1m from FY 2022). Profit margin: 4.2% (up from net loss in FY 2022). Revenue is forecast to stay flat during the next 2 years compared to a 1.8% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 193 percentage points per year, which is a significant difference in performance. New Risk • Apr 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €2.76, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 8x in the Energy Services industry in Europe. Total returns to shareholders of 269% over the past three years. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: kr4.66 (vs kr5.81 loss in FY 2022) Full year 2023 results: EPS: kr4.66 (up from kr5.81 loss in FY 2022). Revenue: kr6.92b (up 45% from FY 2022). Net income: kr364.8m (up kr811.7m from FY 2022). Profit margin: 5.3% (up from net loss in FY 2022). Revenue is expected to decline by 2.1% p.a. on average during the next 2 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 164 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €3.28, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Energy Services industry in Europe. Total returns to shareholders of 311% over the past three years. Reported Earnings • Dec 03
Third quarter 2023 earnings released: EPS: kr0.82 (vs kr3.08 loss in 3Q 2022) Third quarter 2023 results: EPS: kr0.82 (up from kr3.08 loss in 3Q 2022). Revenue: kr1.62b (up 17% from 3Q 2022). Net income: kr63.5m (up kr301.2m from 3Q 2022). Profit margin: 3.9% (up from net loss in 3Q 2022). Revenue is expected to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.6%. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Per Sortland was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: kr1.97 (vs kr10.96 loss in 2Q 2022) Second quarter 2023 results: EPS: kr1.97 (up from kr10.96 loss in 2Q 2022). Revenue: kr1.91b (up 9.4% from 2Q 2022). Net income: kr152.2m (up kr997.3m from 2Q 2022). Profit margin: 7.9% (up from net loss in 2Q 2022). Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 2.8%. Reported Earnings • Jun 02
First quarter 2023 earnings released: EPS: kr3,251 (vs kr3.07 loss in 1Q 2022) First quarter 2023 results: EPS: kr3,251 (up from kr3.07 loss in 1Q 2022). Revenue: kr1.36b (up 9.5% from 1Q 2022). Net income: kr251.3m (up kr485.0m from 1Q 2022). Profit margin: 18% (up from net loss in 1Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Energy Services industry in Europe. Reported Earnings • Feb 25
Full year 2022 earnings released Full year 2022 results: Revenue: kr6.49b (up 27% from FY 2021). Net loss: kr1.11b (flat on FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Energy Services industry in Europe. Reported Earnings • Nov 19
Third quarter 2022 earnings released: kr6.10 loss per share (vs kr1.96 loss in 3Q 2021) Third quarter 2022 results: kr6.10 loss per share (further deteriorated from kr1.96 loss in 3Q 2021). Revenue: kr1.86b (up 24% from 3Q 2021). Net loss: kr471.4m (loss widened 220% from 3Q 2021). Board Change • Nov 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 20
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr1.75b (up 38% from 2Q 2021). Net loss: kr845.1m (loss widened 210% from 2Q 2021). Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Thorhild Widvey was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: kr5.40b (up 12% from FY 2020). Net loss: kr1.10b (down 115% from profit in FY 2020). Revenue was in line with analyst estimates. Reported Earnings • Nov 26
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: kr1.96 loss per share (up from kr3,942 loss in 3Q 2020). Revenue: kr1.50b (up 14% from 3Q 2020). Net loss: kr147.4m (loss narrowed 87% from 3Q 2020). Revenue was in line with analyst estimates. Reported Earnings • Aug 25
Second quarter 2021 earnings released: kr3.60 loss per share (vs kr2,760 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: kr1.26b (down 5.0% from 2Q 2020). Net loss: kr272.5m (loss narrowed 66% from 2Q 2020). Reported Earnings • May 27
First quarter 2021 earnings released The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: kr1.34b (up 11% from 1Q 2020). Net loss: kr309.0m (loss narrowed 86% from 1Q 2020). 
