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|| |
|Revenue and other income||1 070||881|
|CAPEX and R&D capitalization||16||17|
|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.
Second Quarter and Half Year Results 2019: July 17, 2019
Chief Financial Officer
Tel: +47 917 86 291
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.
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