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4 May 2018 Q1 2018 results and market update
Q1 2018 results and market update Disclaimer
All statements in this presentation other than statements of historical fact are
forward -looking statements, which are subject to a number of risks, uncertainties,
and assumptions that are difficult to predict and are based upon assumptions as
to future events that may not prove accurate. Certain such forward -looking
statements can be identified by the use of forward -looking terminology such as
“believe”, “may”, “will”, “should”, “would be”, “expect” or “anticipate” or similar
expressions, or the negative thereof, or other variations thereof, or comparable
terminology, or by discussions of strategy, plans or intentions. Should one or
more of these risks or uncertainties materialise, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in this presentation as anticipated, believed or expected. Prosafe does
not intend, and does not assume any obligation to update any industry
information or forward -looking statements set forth in this presentation to reflect
subsequent events or circumstances.
2 Q1 2018 highlights
Continued good operating performance
Utilisation of 33.3 per cent in the quarter
Operating revenues at USD 82.8 million
Cash flow from operations at USD 51.3 million
Safe Caledonia awarded a five -month contract for BP
in the UK with start -up around end of May
Prosafe wins Westcon dispute regarding the TSV
Safe Scandinavia conversion
Established in Mexico
Delivering on cost and capex reductions. Focus on
continuous improvement remains
Business & Operations
CONDENSED CONSOLIDATED INCOME STATEMENT
(Unaudited figures in USD million) Q1 18 Q4 17 Q1 17 2017
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