Statements of Changes in Equity

Consolidated

(Amounts in USD 1,000)

Total no.
of shares

Share
capital

Share premium
reserves

Other
reserves

Retained
earnings

Shareholders’
equity

Non-controlling
interest

Total
equity

Equity as of December 31, 2015

842,021,380

8,420

616,799

-96,369

115,147

632,215

33,293

665,508

Change previous periods

-

-

-

-1,682

-1,682

-100

-1,782

Net loss to shareholders

-

-

-

-142,436

-142,436

-13,469

-155,905

Employee share schemes – value of employee services

-

-

516

-

516

-

516

Other

-

-

63

-96

-33

1,201

1,168

Currency translation differences

-

-

-23

-

-23

-

-23

Pension remeasurement

-

-

-

230

230

-

230

Share issues in partially owned subsidiaries

-

-

-

-

-

77,953

77,953

Reclassification to profit or loss

-

-

60,319

-

60,319

-

60,319

Equity as of December 31, 2016

842,021,380

8,420

616,799

-35,471

-28,836

549,107

98,878

647,985

Change previous periods

-

-

-

-414

-414

-3

-416

Net loss to shareholders

-

-

-

-164,324

-164,324

-39,720

-204,044

Employee share schemes – value of employee services

-

-

223

-

223

-

223

Currency translation differences

-

-

8,240

-

8,240

20

8,261

Pension remeasurement

-

-

-

-491

-491

-

-491

Acquisition of shares from minority interests

-

-

-

11,439

11,439

-11,439

-

Shares issues in Siem Offshore Inc

100,000,000

1,000

21,094

-

-

22,094

-

22,094

Equity as of December 31, 2017

942,021,380

9,420

637,893

-38,813

-182,626

425,874

47,737

473,611

Share issues in partially owned subsidiaries

2017

2016

Minority share of new equity Siem WIS AS

-

885

Minority share of new equity Siem AHTS Pool AS

-

77,068

Total

-

77,953

Parent company

(Amounts in USD 1,000)

Total
no. of
shares

Share
capital

Share
premium
reserves

Exchange rate
differences

Other
reserves

Retained
earnings

Shareholders’
equity

               

Equity as of December 31, 2015

842,021,380

8,420

616,799

-100

-22,203

249,671

852,588

Change previous periods

-

-

-

-

-

4,725

4,725

Other items, CIRR

-

-

-

-

-

368

368

Net profit

-

-

-

-

-

-15,134

-15,134

Share option program

-

-

-

-

-

527

527

Equity as of December 31, 2016

842,021,380

8,420

616,799

-100

-22,203

240,158

843,075

       

Change previous periods

-

-

-

-

4,481

4,481

Other items, CIRR

-

-

-

-

-

368

368

Net loss

-

-

-

-

-

-241,576

-241,576

Share option program

-

-

-

-

-

221

221

Share issue

100,000,000

1,000

21,094

-

-

-

22,094

Equity as of December 31, 2017

942,021,380

9,420

637,893

-100

-22,203

3,652

628,662

Board Of Directors

Financial Statements

Notes