NOTE: THE COMPANY IS AN INVESTMENT ENTITY AND SHALL NOT CONSOLIDATE ITS SUBSIDIARIES. (Limassol,15 February 2024 )S.D. Standard ETC Plc (Standard ETC, OSE:SDSD) reports a net loss after tax ofUSD 2.6 million in the fourth quarter of 2023, compared to a net profit after tax ofUSD 13.8 million in the fourth quarter of 2022. For the full year of 2023, Standard ETC had a profit ofUSD 2.6 million (2022 USD 39.8 million). The company is a leading shareholder inDolphin Drilling AS (Dolphin Drilling , OSE:DRILL) andStandard Supply AS (Standard Supply, OSE:STSU). Martin Nes, Standard ETC's Board Chairman, comments: "Our financial results are mainly driven by share price developments forDolphin Drilling and Standard Supply, culminating in a combined unrealized loss ofUSD 4.3 million for the fourth quarter. Additionally, our ETC portfolio, which includes investments in other equities and credits, yielded a gain ofUSD 1.9 million ". "Dolphin Drilling has secured a substantial confirmed revenue backlog, approximatelyUSD 300 million . In theUK Dolphin Drilling is now moving fast to secure multi-year drilling campaigns for the Borgland starting in 2025, on top of the firm 137-days withEnquest ." "Standard Supply is distributing a total ofNOK 2.75 per share in the fourth quarter of 2023, reflecting liquidity at hand. After this distribution, there is approximatelyNOK 2.5 /sh left in the company, split c. 50/ 50 between cash and market value of the Standard Supplier", Nes added. As an investment entity, Standard ETC does not consolidate its subsidiaries. The company reported a net loss after tax ofUSD 2.6 million in the fourth quarter of 2023, mainly reflecting unrealized losses from the investments in DDRIL and STSU. The company had a cash position ofUSD 26 million at the end of the quarter, excluding cash held by subsidiaries. The company's stakes inDolphin Drilling and Standard Supply are evaluated at the quarter-end share prices. Attached are the company presentation and the Board of Directors' report. ENDS For further information, please contact: General Manager,Evangelia Panagide at +357 99 77 11 16 Chairman of the Board Martin Nes at +47 92 01 48 14 About Standard-ETC | standard-etc.com S.D. Standard ETC is an investment company founded in 2010. The company holds a concentrated investment portfolio including a 53% ownership inStandard Supply AS (Euronext Growth: STSU) and a 19% ownership in the listed drilling companyDolphin Drilling AS (Euronext Growth DDRIL). S.D. Standard ETC is headquartered inCyprus and listed on theOslo Stock Exchange under the ticker SDSD.
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