New director for DOF Subsea

Oslo-listed engineering and marine services player DOF Subsea has elected Marianne Møgster as its new director.

Marianne Møgster, born in 1974, currently serves as senior vice president of Finance in DOF Subsea AS.

She has experience from several other positions in DOF, StatoilHydro and Norsk Hydro.

Møgster also has experience as a board member both with the DOF Group and in other listed company as Lerøy Seafood Group ASA and holds the position as a board member in the University of Bergen (UiB).

She holds a degree in Economics and Business Administration from the Norwegian School of Economics and Administration (NHH). Mrs. Møgster is a Norwegian citizen, and resides in Norway.

Møgster will replace Hilde Drønen.

Drønen joined DOF ASA as CFO in 2007. Her previous experience includes being the CFO in DOF Management AS (2004-2007), director of finance with Bergen Yards AS (2003-2004), and also Group controller for the Møgster Group (1995-2003).

Drønen holds a Business Administration degree from BI in Oslo, a Business Management degree from BI in Bergen, and has had Legal courses from the University in Bergen.

For the first half of 2020 the Group generated operating revenue of NOK 1.9 billion (NOK 1.8 billion in 2019).

Operating profit before depreciation was NOK 752 million (NOK 530 million).

The operating loss for the first 6 months was NOK 833 million (profit of NOK 172 million) after depreciation and impairment of NOK 1.6 billion (NOK 358 million).

Loss for the period was close to NOK 2 billion, versus loss of NOK 10 million.

As at the end of 2nd quarter, the firm contract backlog amounted to NOK 12,4 billion.

At the end of second quarter, the number of employees in the Group was 1 048.

The number does not include marine employees that are employed in DOF Management and Norskan and hired in through shipman agreements to operate the Group’s vessels.

Also, the Group’s fleet comprised 24 owned vessels, in addition to 3 chartered-in vessels. In addition, the Group operates 71 ROVs.