Akastor ASA: Fourth Quarter and Preliminary Annual Results 2015

- Real estate portfolio sold for NOK 1 243 million
- Balance sheet strengthened; net debt reduced by NOK 1.5 billion to NOK 4.9 billion, working capital decreased by NOK 581 million, liquidity reserve of NOK 2.6 billion
- Weak market conditions continue across the portfolio, significant cost reductions initiated
- EBITDA of NOK 552 million, including special items of NOK 321 million
- Impairment of NOK 615 million, mainly related to Managed Pressure Operations (MPO)
- Secured commitment for refinancing in January 2016
- Frontica secured five year contract with Aker Solutions in February 2016
Contact Information
Tore Langballe
Head of Communication
and Investor Relations
Tel: +47 21 52 58 10
E-mail: tore.langballe@akastor.com
Visiting Address: Oksenøyveien 10,
NO-1366 Lysaker, Norway
For more information, please visit
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Akastor ASA via Globenewswire