PERFORMANCE SUMMARY Q3 2018
· Total revenues were NOK 955 million, compared to revenues of NOK 1 249 million the same quarter previous year (which included NOK 500 million from a settlement agreement).
· EBITDA was NOK 87 million, compared to EBITDA of NOK 80 million in Q3 2017 adjusted for several special items.
· Successful closing of the transaction selling 50% of the shares in AKOFS Offshore to form Joint Venture with Mitsui and MOL. Received proceeds of USD 142.5 million plus interest (from 1 January)
· Net interest-bearing debt position decreased by NOK 1 230 million to NOK 76 million driven by divestment of 50% of the shares in AKOFS Offshore
· Strong balance sheet, high financial capacity with liquidity reserve of NOK 1.6 billion
· Started process to refinance existing credit facility (maturing in July 2019). Expecting to sign new 3 years loan agreement for NOK 2.5 billion in the fourth quarter
KEY FIGURES AKASTOR GROUP
| NOK million | Q3 18 | Q3 17 |
| Operating revenue and other income | 955 | 1 249 |
| EBITDA | 87 | 1 |
| EBIT | 41 | (160) |
| CAPEX and R&D capitalization | 68 | 30 |
| NCOA | 547 | 937 |
| Net capital employed | 4 771 | 7 749 |
| Order intake | 799 | 1 140 |
| Order backlog | 2 759 | 1 515 |
| Net interest-bearing debt | 76 | 2 330 |
| Employees | 1 790 | 2 043 |
Financial Calendar
Fourth Quarter Results 2018: February 13, 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.
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