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
| NOK million | Q1 19 | Q1 18 |
| Revenue and other income | 1 070 | 881 |
| EBITDA | 92 | 63 |
| EBIT | 31 | 16 |
| CAPEX and R&D capitalization | 16 | 17 |
| NCOA | 521 | 687 |
| Net capital employed | 4 721 | 7 196 |
| Order intake | 1 146 | 1 068 |
| Order backlog | 2 756 | 2 123 |
| Net interest-bearing debt | 290 | 828 |
| Employees | 1 812 | 1 991 |
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.