Fred. Olsen Energy ASA: Report for the 2nd Quarter 2016 and the 1st Half Year 2016

Regulatory News:

Figures in USD

FRED.OLSEN ENERGY ASA (OSE:FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF 143 MILLION FOR THE 2nd QUARTER 2016 AND 282 MILLION FOFR THE FIRST HALF YEAR 2016.

HIGHTLIGHTS FOR THE 2nd QUARTER 2016

· Revenues were 219 million

· EBITDA was 143 million

· Impairment of 159 million

· Operating profit (EBIT) was negative 96 million

· Profit before tax was negative 107 million

· Earnings per share were negative 1.7

· Repayment of bond loan FOE 04 in May 2016

· Statoil suspends Bideford Dolphn for third quarter 2016

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