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2014-05-22

REM Offshore ASA: REM - RESULT Q1 2014

Rem Offshore ASA recorded operating revenue of NOK 263.5 million in the first
quarter of 2014 (2013: NOK 180.9 million). EBITDA for the period came to NOK
147.8 million (NOK 82.4 million), giving an EBITDA margin of 56.1% (45.6).
Net profit for the period was NOK 78.0 million (NOK 7.1 million).

The profit for the period is a substantial improvement compared to the first
quarter of 2013, a result of a sharper focus on the subsea segment, and a
stronger market for PSVs and AHTS vessels. The fleet`s utilization rate was
also high in the first quarter at 97.8%.

The report is published on: www.rem-offshore.no

Contact :
Åge Remøy (CEO), +4770081164 / +4790591292
Arild Myrvoll (CFO), +4770080894 / +4790014188

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

REM Q1 2014
http://hugin.info/138652/R/1788000/614118.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: REM Offshore ASA via Globenewswire

HUG#1788000

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