DOF Group Reports Strong Third Quarter 2026 Results
DOF Group ASA reported revenue of USD 615 million for the third quarter of 2026, compared with USD 501 million in the same period last year.
EBITDA increased to USD 240 million from USD 205 million, while EBITDA excluding gains from vessel sales rose by approximately 13% to USD 219 million, compared with USD 193 million in Q3 2025.
Operating profit (EBIT) increased to USD 168 million from USD 138 million, while profit after tax reached USD 115 million, compared with USD 107 million a year earlier.
Net financial costs totalled USD 12 million, including a currency gain of USD 7 million.
The Group's net interest-bearing debt stood at USD 1.35 billion, compared with USD 1.33 billion a year earlier. Equity increased to USD 2.13 billion from USD 1.98 billion, giving an equity ratio of 47%, up from 46%.
Third Quarter Highlights
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Average fleet utilisation was 86%, compared with 87% in Q3 2025.
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The Group's order backlog reached USD 7.0 billion, including new contracts secured after the quarter ended. The backlog stood at USD 6.6 billion at the end of September.
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Skandi Connector and four platform supply vessels (PSVs), sold during the second and third quarters, were delivered to their new owners during Q3.
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Following the quarter end, DOF agreed to sell Skandi Implementer, a 400-tonne construction support vessel, to an undisclosed buyer.
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The ratio of net interest-bearing debt to EBITDA for the last 12 months was 1.6.
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DOF declared a quarterly dividend of USD 0.40 per share, payable on 30 November 2026.
All figures are based on management reporting.
Further details are available in DOF Group's Third Quarter Financial Report 2026.
Source: DOF Group
