Akastor ASA: Fourth Quarter Results 2018
PERFORMANCE SUMMARY Q4 2018
· Total revenues were NOK 1 090 million, up 22% compared with the same quarter previous year
· EBITDA was NOK 63 million, at the same level as EBITDA in Q4 2017 adjusted for several special items
· Net interest-bearing debt was NOK 146 million, increased by NOK 70 million in the quarter
· Refinancing of NOK 2.5 billion credit facility (maturing in December 2021) in place with a consortium of 5 banks
· Loss from discontinued operations includes provision of USD 23 million as a result of negative arbitration outcome of legacy matter related to former Akastor owned company, Managed Pressure Operations Ltd (MPO)
· First Geo and AGR combine to create leading provider of well management, reservoir services and software provider - transaction expected to close in first half of 2019
· Pete Miller appointed new executive chairman of MHWirth, and Eirik Bergsvik appointed new CEO of MHWirth
KEY FIGURES AKASTOR GROUP
| NOK million | Q4 18 | Q4 17 |
| Operating revenue and other income | 1 090 | 895 |
| EBITDA | 63 | 96 |
| EBIT | 21 | 23 |
| CAPEX and R&D capitalization | 37 | 35 |
| NCOA | 375 | 857 |
| Net capital employed | 4 556 | 7 566 |
| Order intake | 980 | 1 291 |
| Order backlog | 2 692 | 1 948 |
| Net interest-bearing debt | 146 | 2 363 |
| Employees | 1 775 | 2 015 |
Financial Calendar
Annual Report 2018: March 19, 2019
First Quarter Results 2019: May 2, 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.