Akastor ASA: First Quarter Results 2019

PERFORMANCE SUMMARY Q1 2019 

·         Total revenues were NOK 1 070 million, up 21% compared with the same quarter previous year

·         EBITDA was NOK 92 million, including positive effect of IFRS 16 (new lease standard) of NOK 27 million

·         Net interest-bearing debt was NOK 290 million (excluding lease liabilities from IFRS 16), increased by NOK 144 million in the quarter

·         First Geo and AGR merger successfully completed in April - will be consolidated from Q2 2019

·         MHWirth awarded contract for new drilling equipment package from Keppel FELS in April (first out of three options), ultimate client Awilco Drilling

KEY FIGURES AKASTOR GROUP

IFRS 16 Leases is implemented with effect from January 1, 2019. Key figures from prior periods are not restated.

Financial Calendar

Second Quarter and Half Year Results 2019: July 17, 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.