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Solstad still booking red figures – but order book grows

Solstad Offshore reduced its deficit in Q1 2022 compared to the same period last year, while earnings and operating income decreased. But the development is better than what the financial report reveals, states the company.

CEO of Solstad Offshore, Lars Peder Solstad. | Photo: Solstad Offshore ASA

Norwegian carrier Solstad Offshore reports a negative development on several key posts in its financial figures for 2022’s first quarter. But that is especially due to one factor, according to the top management, which looks mildly at the rest of the year.

This is evident from the company’s quarterly report, which shows that operating income (EBITDA) fell from NOK 432m (USD 45m) in Q1 2021 to NOK 208m in Q1 this year.

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