Sevan Drilling ASA announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company announced operating revenue USD 83.1 million compared to USD 60.1 million for the same period a year ago. Operating profit was USD 19.8 million compared to USD 0.8 million for the same period a year ago.

Profit before tax was USD 2.4 million compared to loss before tax of USD 10.7 million for the same period a year ago. Net profit attributable to equity holders of the company was USD 2.2 million compared to net loss attributable to equity holders of the company of USD 10.4 million for the same period a year ago. Net cash generated from operating activities was USD 25.7 million compared to net cash used in operating activities of USD 7.7 million for the same period a year ago.

Purchases of property, plant and equipment and other non-current assets was USD 6.6 million compared to USD 20.2 million for the same period a year ago. EBITDA was USD 38.3 million compared to USD 15.7 million for the same period a year ago.