Archer Limited: Third Quarter 2020 Results
Hamilton, Bermuda (November 6, 2020) Third quarter 2020 highlights · Revenue of $183.6 million · EBITDA before exceptional items of $22.3 million · Awarded contract extensions for a total of 14 installations in the UK · Agreed amendments to financial covenant · Net interest bearing debt reduced by $107 million year-over-year Dag Skindlo, CEO of Archer, comments: “Despite the reduction in activity in the quarter, Archer continue to generate positive operating cash flow and to reduce its net interest-bearing debt substantially. The improved liquidity combined with