Akastor ASA: First Quarter Results 2019

PERFORMANCE SUMMARY Q1 2019

· Total revenues were NOK 1 070 million, up 21% compared with the same quarter previous year

· EBITDA was NOK 92 million, including positive effect of IFRS 16 (new lease standard) of NOK 27 million

· Net interest-bearing debt was NOK 290 million (excluding lease liabilities from IFRS 16), increased by NOK 144 million in the quarter

· First Geo and AGR merger successfully completed in April - will be consolidated from Q2 2019

· MHWirth awarded contract for new drilling equipment package from Keppel FELS in April (first out of three options), ultimate client Awilco Drilling

KEY FIGURES AKASTOR GROUP

NOK million

Q1 19


Q1 18
Revenue and other income 1 070 881
EBITDA 92 63
EBIT 31 16
CAPEX and R&D capitalization 16 17
NCOA 521 687
Net capital employed 4 721 7 196
Order intake 1 146 1 068
Order backlog 2 756 2 123
Net interest-bearing debt 290 828
Employees 1 812 1 991


IFRS 16 Leases is implemented with effect from January 1, 2019. Key figures from prior periods are not restated.

Financial Calendar

Second Quarter and Half Year Results 2019: July 17, 2019

Media Contact

Leif Borge

Chief Financial Officer
Tel: +47 917 86 291
E-mail: leif.borge@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

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




This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Akastor ASA via Globenewswire

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