Akastor ASA: Fourth quarter and preliminary annual results 2017
· EBITDA of NOK 167 million with MHWirth delivering an EBITDA margin of 11%
· Cash flows of NOK 127 million before financing activities
· Net debt NOK 2.4 billion, including financial leases of NOK 1.5 billion
· MoU signed with Mitsui for establishing AKOFS Offshore Joint Venture
· Karl Erik Kjelstad appointed as Chief Executive Officer effective from January 1, 2018
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.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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