Archer Limited: 36% EBITDA-growth in 2023 and positive net income in the quarter
Hamilton, Bermuda (February 29, 2024) Archer today releases the fourth quarter and preliminary full-year 2023 financial report and reports positive net income of $8.5 million for the quarter, in line with the trading update released on January 26, 2024. Some highlights from the financial report: · Revenue of $305 million and adjusted EBITDA of $33.4 million in Q4 2023, a year-on-year increase of 15% and 14%, respectively. · EBITDA grew by 36% in 2023, exceeding upper range of full-year guidance. · Reduced leverage ratio to 2.9 at year-end 2023. · Positive net income for