Akastor ASA: Q1 2016 Results

Mon, May 02, 2016 12:00 CET

Highlights

Stable net debt at NOK 5 077 million, working capital decreased by NOK 282 million to NOK 2 058 million, liquidity reserve of NOK 2.5 billion
EBITDA of NOK -12 million, including special items of NOK -104 million
Refinancing of long-term credit facilities concluded in the quarter
Weak market conditions continue across the portfolio significantly impacting revenue
Cost and capacity reductions continue as well as focused efforts to strategically develop portfolio companies during the downturn
Frontica secured five-year contract with Aker Solutions, boosting order intake for the quarter

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.