Akastor ASA: Fourth Quarter Results 2018


· Total revenues were NOK 1 090 million, up 22% compared with the same quarter previous year
· EBITDA was NOK 63 million, at the same level as EBITDA in Q4 2017 adjusted for several special items
· Net interest-bearing debt was NOK 146 million, increased by NOK 70 million in the quarter
· Refinancing of NOK 2.5 billion credit facility (maturing in December 2021) in place with a consortium of 5 banks
· Loss from discontinued operations includes provision of USD 23 million as a result of negative arbitration outcome of legacy matter related to former Akastor owned company, Managed Pressure Operations Ltd (MPO)
· First Geo and AGR combine to create leading provider of well management, reservoir services and software provider - transaction expected to close in first half of 2019
· Pete Miller appointed new executive chairman of MHWirth, and Eirik Bergsvik appointed new CEO of MHWirth


NOK million

Q4 18

Q4 17
Operating revenue and other income 1 090 895
EBITDA 63 96
EBIT 21 23
CAPEX and R&D capitalization 37 35
NCOA 375 857
Net capital employed 4 556 7 566
Order intake 980 1 291
Order backlog 2 692 1 948
Net interest-bearing debt 146 2 363
Employees 1 775 2 015

Financial Calendar

Annual Report 2018: March 19, 2019
First Quarter Results 2019: May 2, 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