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

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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions 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