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Bergen Group appoints new CEO

28th August 2015

The Board of Directors in Bergen Group ASA has appointed Hans Petter Eikeland as new CEO with effect as from 28 August 2015.

Hans Petter Eikeland
Hans Petter Eikeland is the new CEO of Bergen Group

Hans Petter Eikeland (picture above) is appointed for a period until 1 July 2016. Eikeland succeeds Asle Solheim.

“The Board is very pleased with Hans Petter Eikeland taking over as CEO as of today. Eikeland has an industrial understanding and vigor that will be important in the restructuring phase taking place in the group related to close up the finalized rig projects, together with ensuring a sound basis for profitable growth in the continuing operations”, says chairman Tor Lars Onarheim.

Eikeland was in May this year engaged as COO (Chief Operating Officer) of the Group to strengthen the Group's operational management capacity to facilitate growth for the sale of rig activity, and thus knows the group well.

“Bergen Group is currently in a phase with many demanding challenges and exciting opportunities. The remaining competence and capacity of the group gives in my opinion a good foundation for long-term growth on profitable terms”, says CEO Hans Petter Eikeland.

Eikeland has an extensive experience from various leadership positions within offshore related business. He has been CEO in Ability Drilling ASA, Rig Manager and VP Operations in Odfjell Drilling and Rig Manager in Smedvig Drilling. As an investor and entrepreneur, he has extensive experience in restructuring the development of industrial companies, including as one of the founders of the listed company AGR, and as 50% owner of Safeguard Group which during just a few years multiplied the turnover before the company last year were purchased by the international group Assa Abloy.

Disappointing profitability
Bergen Group posted a total loss of NOK 15.8 million in the second quarter of 2015 compared to a loss off NOK 24.45 million in the second quarter of 2014.

According to Bergen Group’s 2Q 2015 interim report, profitability has not been satisfactory in the first half year of 2015. This is mainly due to a weaker market in the oil and gas sector, a temporary lower activity towards the Norwegian defense and weak profits in Bergen Group Skarveland AS.

Bergen Group had operating revenue of NOK 46 million in Q2 2015, compared to NOK 108 million in Q2 2014.

The operating profit before depreciation (EBITDA) of Q2 2015 amounted to negative NOK 8 million, compared to negative NOK 4 million in Q2 2014.

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