Akastor ASA: Q1 2016 Results

  • January 01, 0001
  • 00:00
  • News
  • Event
  • Stock exchange release
  • Akastor ASA

Highlights

  • Stable net debt at NOK 5 077 million, working capital decreased by NOK 282 million to NOK 2 058 million, liquidity reserve of NOK 2.5 billion
  • EBITDA of NOK -12 million, including special items of NOK -104 million
  • Refinancing of long-term credit facilities concluded in the quarter
  • Weak market conditions continue across the portfolio significantly impacting revenue
  • Cost and capacity reductions continue as well as focused efforts to strategically develop portfolio companies during the downturn
  • Frontica secured five-year contract with Aker Solutions, boosting order intake for the quarter

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.