DOF Group ASA (OSTO:DOFGo)

Q2 2026 Dof Group ASA Earnings Call Transcript

Aug 19, 2026 / 12:00 PM GMT

Transcript

Key Points

Positve

Record quarterly EBITDA of $238 million, up 11% year-over-year, excluding non-recurring items.
Backlog reached a record $7.2 billion, providing 92% coverage for 2026 and 68% for 2027.
Strong market outlook with increasing demand for high-end anchor handlers and project work, supported by a growing floater market.
Strategic fleet high-grading: selling non-core PSVs and acquiring high-end vessels, expected to be cash-neutral or positive.
Increased dividend due to strong visibility and confidence in sustained market strength.

Negative

EBITDA guidance for 2026 was lowered by $25 million due to vessel sales, the Amazonas loss, and a docking schedule change.
The Amazonas total loss resulted in a one-time EBITDA impact of $110 million, which is non-recurring and distorts quarterly comparisons.
High leverage on the Norskan segment, though expected to improve with new contracts starting next year.
Potential oversupply of new CSV builds could pressure rates in the subsea segment, though DOF sees limited direct impact.
Uncertainty in project activity for 2027, with management relying on 'gut feeling' rather than concrete data for an expected uptick.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DOFG.OL - Dof Group ASA
Q2 2026 Dof Group ASA Earnings Call
Aug 19, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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A warm welcome to you all to this Q2 presentation from DOF. Today's presentation will include operational and financial highlights and some views on certain market segments in the coming years before we then round off with the Q&A session.

You can submit your questions in the webcast Q&A function and you can do so at any time during the presentation and then we will cover them at the end.

All right, with those practicalities out of the way, let's get going. I reckon the first order of business is to pause for a moment and marvel at this beautiful picture of one of the newest additions to the Duff Fleet, or what do you say, Emmons?

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