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Maersk Drilling's press releases

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Maersk Drilling strengthens its Board of Directors
Maersk Drilling strengthens its Board of Directors

Maersk Drilling Holding A/S [Maersk Drilling] has made the planned progress to ensure the company is ready for an independent listing on Nasdaq Copenhagen during 2019. The Board of Directors has been strengthened and a clear governance structure established. Maersk Drilling will release its first consolidated annual report as a standalone entity on February 7, 2019.

Interim Result Q2 2017: Securing contracts in adverse market
Interim Result Q2 2017: Securing contracts in adverse market

Maersk Drilling reported a profit of USD 28m. The result was impacted negatively by rigs being idle as well as temporary downtime on two rigs during the quarter. Though unsatisfactory, the result is as expected given the current market environment. Maersk Drilling today announces the award of one new contract and two contract extensions adding more than 13 months to the backlog.

Interim Result Q1 2017: Idle rigs impact earnings, while uptime and performance remains high
Interim Result Q1 2017: Idle rigs impact earnings, while uptime and performance remains high

Maersk Drilling reported a profit of USD 48m (USD 222m), generating a ROIC of 3.0% (11.2%). The result is impacted by a significant number of rigs currently idle. However, higher operational uptime, further cost savings and lower depreciation due to the impairments in Q4 2016 positively impacted the result.

Annual Result 2016: Challenging result despite good underlying performance
Annual Result 2016: Challenging result despite good underlying performance

Maersk Drilling reported a loss of USD 694m (profit of USD 751m) and a ROIC of negative 9.0% (positive 9.3%). The result was negatively impacted by impairments of USD 1.5bn (USD 27m), primarily related to the deepwater segment due to significant oversupply and reduced long-term demand expectations as a consequence of lower offshore spending. However, the underlying profit of USD 743m (USD 732m) was positively impacted by termination fees of approximately USD 150m moved from 2017 to 2016, savings on operating costs and high operational uptime offset by ten rigs being idle or partly idle versus three rigs last year.

Interim result Q3 2016: Satisfactory result in an adverse market
Interim result Q3 2016: Satisfactory result in an adverse market

Maersk Drilling delivered a profit of USD 340m (USD 184m) in the third quarter of 2016. The profit was positively impacted by USD 210m due to the early contract termination of Maersk Valiant, as well as strong operational performance with an average uptime of 98% and savings on operating costs, partly offset by more idle days. The underlying profit was USD 340m (USD 172m), generating a ROIC of 17.2% (9.0%).

Interim result Q2 2016: Strong operational performance in challenging market
Interim result Q2 2016: Strong operational performance in challenging market

Maersk Drilling delivered a profit of USD 164m (USD 218m) in the second quarter of 2016. The result is positively impacted by a strong operational performance with an average uptime of 98% and savings on operating costs, however partly offset by more idle days. The underlying profit was USD 164m (USD 189m), generating a ROIC of 8.3% (10.6%).

Interim result Q1 2016: Good operational performance in adverse market
Interim result Q1 2016: Good operational performance in adverse market

Maersk Drilling delivered a profit of USD 222m (USD 168m) in the first quarter of 2016. The result is positively impacted by a continued good performance with an average uptime of 97% and savings on operating costs partly offset by more idle days. Furthermore, the result is positively impactd by USD 60m due to the early termination of the Mærsk Deliverer contract. The underlying profit was USD 222m (USD 195m) generating a ROIC of 11.2% (8.5%).

Annual result 2015: Recalibrating to the new oil reality
Annual result 2015: Recalibrating to the new oil reality

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted by continued strong operational performance, fleet growth and general cost savings. However, increased idle time negatively affected the results. The underlying profit was USD 732m (USD 471m).

Interim result Q3 2015: Focusing on remaining competitive despite the downturn
Interim result Q3 2015: Focusing on remaining competitive despite the downturn

Maersk Drilling delivered a profit of USD 184m (USD 192m) in the third quarter of 2015 generating a ROIC of 9.0% (10.7%). The result was positively impacted by continued strong operational performance, fleet growth and general cost savings. However, increased idle time negatively affected the results. The result was further affected by an additional gain of USD 9m (USD 73m) related to the sale of the Venezuelan business in 2014. The underlying profit for the quarter was USD 172m (USD 118m).

Interim result Q2 2015: Maersk Drilling navigates low visibility in the market
Interim result Q2 2015: Maersk Drilling navigates low visibility in the market

Maersk Drilling delivered a profit of USD 218m (USD 117m) in the second quarter of 2015. The result was positively impacted by continued strong operational performance, fleet growth, general cost savings and a USD 29m payment related to the divestment of the Venezuelan activities in 2014. The result was negatively impacted by three rigs being idle. The underlying profit for the quarter was USD 189m (USD 117m) generating a ROIC of 10.6% (7.2%).

Interim result Q1 2015: Strong first quarter performance in tough market
Interim result Q1 2015: Strong first quarter performance in tough market

Maersk Drilling delivered a profit of USD 168m (USD 116m) in the first quarter of 2015. The result was positively impacted by fleet growth and continued good operational performance, but partly offset by two rigs being idle. The underlying profit for the quarter was USD 195m (USD 109m) generating a ROIC of 8.5% (8.1%).

Annual result 2014: Maersk Drilling to position itself for new oil reality
Annual result 2014: Maersk Drilling to position itself for new oil reality

In 2014 Maersk Drilling delivered a profit of USD 478 (USD 528m). The profit was positively impacted by high operational uptime as well as a gain of USD 73m relating to the divestment of the drilling barge activities in Venezuela. However, the result was negatively affected by impairments of USD 85m and the high number of yard stays. The underlying profit of USD 471m (USD 524m) was in line with expectations.