Note 16 - Guarantees

Parent company

Consolidated

12/31/2017

12/31/2016

(Amounts in USD 1,000)

12/31/2017

12/31/2016

-

-

Contractual guarantees to Brazilian Navy

-

3,912

-

-

Guarantees related to tax-disputes, Brazil

9,958

2,889

56,477

52,494

Contractual guarantees Power cable segment

56,477

54,518

182,342

198,376

Guarantees for debt in subsidiaries

-

-

238,819

250,870

Total guarantees

66,435

61,318

Guarantees related to disputes and ongoing tax-cases have been raised per request from Brazilian tax-authorities.
Guarantees given by the Submarine Power Cable segments are in favour of Siem Offshore Contractors GmbH’s clients as security for advance payments received and for contractual obligations.
Contractual guarantees provided by Parent are security to clients of Siem Offshore Contractors GmbH.

Board Of Directors

Financial Statements

Notes