Second Quarter Highlights
- A cash dividend of NOK 0.35 per share will be paid on or around 23 July, reflecting the positive cash generation in the second quarter.
- Akastor reduced its holding in Odfjell Drilling by 50% in June and July, with total proceeds from divestments reaching NOK 104 million, of which NOK 47 million received in cash in the second quarter.
- HMH delivered stable revenues, with margins showing resilience despite softer rig market sentiment. Adjusted EBITDA was USD 36 million, with a margin of 17.7% for the quarter.
- AKOFS Santos nominated for award of a four-year MPSV contract by Petrobras, expected to commence in Q3 2026, subject to final signing. Total gross contract value estimated at USD 246 million.
- Skandi Peregrino commenced its new contract in Australia in the second quarter, bringing all three DDW Offshore vessels on contract.
- Equity of NOK 5.5 billion per end of period, corresponding to NOK 20.0 per share
Akastor CEO Karl Erik Kjelstad comments:
“We are pleased to announce Akastor’s first-ever shareholder distribution that reflects the solid cash generation in the second quarter. This marks an important milestone and is in line with our strategy to return excess capital to shareholders. The distribution to shareholders reflects a solid financial position, and with continued operational progress, we believe we are well positioned for long-term value creation. HMH delivered stable revenues, showing resilience in a softer rig market. We are pleased that AKOFS Offshore has been nominated for a new four-year contract for AKOFS Santos. The contract is important both strategically and financially, as it will support improved earnings and strengthen the platform for further development of the company.”
The second quarter presentation and half year report are attached to this release and also available at www.akastor.com.
Media Contact
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@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 considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jing Li Taklo, Head of Financial Reporting, Akastor ASA, on July 10, 2025, at 07:00 CET.