# EIOF Q1 2026

- Press release: EIOF - Report for Q1 2026 (2026-05-13)
- Original: https://storage.mfn.se/c/aHR0cHM6Ly9hcGkzLm9zbG8ub3Nsb2JvcnMubm8vdjEvbmV3c3JlYWRlci9hdHRhY2htZW50P21lc3NhZ2VJZD02NzMyNzcmYXR0YWNobWVudElkPTMyNTcwMA/eiof-q1-2026.pdf?news-id=9b7dcd72-5223-5853-881c-8431e5cf5971
- Local copy: discarded after extraction (re-fetchable from Original)

**TL;DR —** Eidesvik Offshore reported a 7% decrease in Q1 2026 revenue to NOK 185.2 million and a 20% decrease in EBITDA to NOK 57.7 million compared to Q1 2025, primarily due to a weak PSV spot market, though market conditions improved towards the end of the quarter.

## Takeaways
- **Revenue:** Q1 2026 revenue was NOK 185.2 million, down 7% from NOK 198.8 million in Q1 2025.
- **EBITDA:** Q1 2026 EBITDA was NOK 57.7 million, a 20% decrease from NOK 72.2 million in Q1 2025.
- **EBITDA Margin:** The EBITDA margin decreased from 36% in Q1 2025 to 31% in Q1 2026.
- **Vessel Utilization:** Overall fleet utilization was 93% in Q1 2026, down from nearly 100% in Q1 2025.
- **Net Interest-Bearing Debt:** Net interest-bearing debt decreased to NOK 881.2 million as of March 31, 2026, from NOK 967.4 million at year-end 2025.
- **Newbuilds:** Two new vessels are under construction, scheduled for delivery in H2 2026 and 2027, with associated construction loans of EUR 40.7 million and EUR 20.0 million drawn respectively.

*Generated 2026-09-16 via google/gemini-2.5-flash*