Ocean Yield ASA Fourth Quarter and preliminary results 2014
25 Feb 2015
Oslo, 25th February 2015, Ocean Yield ASA ("Ocean
Yield" or the "Company") announces results for the
fourth quarter and preliminary results for the year
ending 31st December, 2014.
-The Board of Directors has declared a dividend of
USD 0.1425 per share for Q4 2014. This is an
increase of 0.50 cents per share compared with the
previous quarter. On an annualized basis, the
dividend equals USD 0.57 per share. Based on the
closing share price as of 25th February 2015, this
is a dividend yield of 9.4% p.a.
-EBITDA was USD 53.9 million for the fourth quarter
2014 compared with USD 52.7 million for the fourth
quarter of 2013.
-Net profit after tax was USD 30.5 million for the
fourth quarter 2014 compared with USD 26.5 million
for the fourth quarter of 2013.
-In December, Ocean Yield acquired the diving
support and offshore construction vessel SBM
Installer for USD 150 million in combination with a
12-year bareboat charter to the SBM Offshore Group.
-In December, Ocean Yield agreed to sell the 1991
built seismic vessel Geco Triton for USD 8.2 million
to Western Geco.
-In December, Ocean Yield agreed with one of its
banks to increase an existing loan facility with USD
50.5 million, secured against the FPSO Dhirubhai-1.
The proceeds will be used for funding the equity
portion of new investments and for general corporate
-At the end of the fourth quarter, the charter
backlog was USD 2.3 billion in revenues and USD 2.2
billion on an EBITDA basis, with an average weighted
tenor of 9.5 years.
The dividend will be paid on or about 12th March
2015 to shareholders as of 2nd March 2015 registered
with the Norwegian Central Securities Depository
(the "VPS") as of 4th March 2015 (the "Record
Date"). The ex-dividend date will be 3rd March 2015.
For the full report visit : www.ocy.no/ir
Lars Solbakken, Chief Executive Officer
+47 24 13 01 90
Eirik Eide, Chief Financial Officer
+47 24 13 01 91
This information is subject of the disclosure
requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.