Investor Relations.

Financial report 2016 1Q

CEO Comments

The first quarter gave a negative result for the Group, mainly caused by reduced earnings and negative currency effects. The offshore industry is significantly impacted by the downturn in the global E&P industry, and the market Viking Supply Ships A/S (VSS A/S) is operating in has remained challenging through the quarter. The negative result caused by the market conditions is partially compensated by the cost initiatives implemented during 2015, which have impacted the Q1 results positively.

Although not yet completed, Management is confident that a restructuring of the Group will be completed within the second half of 2016

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