# EIOF Q1 2026 presentation

- Press release: EIOF - Report for Q1 2026 (2026-05-13)
- Original: https://storage.mfn.se/c/aHR0cHM6Ly9hcGkzLm9zbG8ub3Nsb2JvcnMubm8vdjEvbmV3c3JlYWRlci9hdHRhY2htZW50P21lc3NhZ2VJZD02NzMyNzcmYXR0YWNobWVudElkPTMyNTY5OQ/eiof-q1-2026-presentation.pdf?news-id=9b7dcd72-5223-5853-881c-8431e5cf5971
- Local copy: discarded after extraction (re-fetchable from Original)

**TL;DR —** Eidesvik Offshore reported a 7% decrease in Q1 2026 freight revenue to MNOK 185, with adjusted EBITDA falling 20% to MNOK 58, primarily due to one vessel operating in a weak spot market, though fleet utilization remained high at 93% and the company maintained a strong equity ratio of 59%.

## Takeaways
- Freight revenue decreased by 7% to MNOK 185 in Q1 2026 compared to Q1 2025.
- Adjusted EBITDA fell by 20% to MNOK 58, with the adjusted EBITDA margin decreasing from 36% to 31%.
- Fleet utilization remained strong at 93% in Q1 2026, with supply utilization at 93% and subsea/offshore renewables at 94%.
- Total contract backlog, including share of JVs, stood at MNOK 3,045, with 37% from renewables projects.
- The company maintains a strong balance sheet with an equity ratio of 59% and net interest-bearing debt of MNOK 881.
- A dividend payment of NOK 0.20 per share was decided in April 2026.

*Generated 2026-09-16 via google/gemini-2.5-flash*