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PA Resources AB: Year-End Report for 2010

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Summary

  • Total revenue for the Group during the fourth quarter amounted to SEK 697.7 million (653.9).
  • EBITDA for the quarter totalled SEK 437.7 million (358.4). 
  • Profit before tax for the fourth quarter was SEK 91.1 million (100.0).  
  • Earnings per share for the quarter were SEK -0.23 (-0.06) before dilution and SEK -0.23 (-0.06) after dilution.
  • Operating cash flow improved for the full year to SEK 416.2 million (142.7), and cash and cash equivalents amounted to SEK 1,260.4 million (123.9) at year-end.
  • The debt/equity ratio assuming full conversion improved to 38.3% (54.6%), compared with the target of a maximum of 50%.
Financial Key ratios Q4 2010 Q4 2009 Jan.-Dec. 2010 Jan.-Dec. 2009
Revenue (SEK million) 697.7 653.9 2,226.7 2,112.8
EBITDA* (SEK million) 437.7 358.4 1,275.7 1,325.9
EBITDA margin (%) 62.7% 54.8% 57.3% 62.8%
Operating profit (SEK million) 218.7 79.1 490.4 429.6
Operating margin (%) 31.3% 12.1% 22.0% 20.3%
Profit/loss before tax (SEK million) 91.1 100.0 179.3 317.5
Earnings per share after dilution (SEK) -0.23 -0.06 -0.61 0.04

*Earnings before interest, tax, depreciation and amortisation. 

 (For the complete Year-End Report, see the attached file)

Stockholm 16 February, 2011
PA Resources AB (publ)

For additional information, please contact:
Bo Askvik
President and CEO, PA Resources AB                               
Telephone: +46 8 21 83 82
Mobile: +46 70 819 59 18
E-mail: ir@paresources.se 

or

Nicolas Adlercreutz
CFO, PA Resources AB
Telephone: +46 8 21 83 82
Mobile: +46 70 587 44 88 


Webcast conference call
On 16 February at 10 a.m. (CET), PA Resources is hosting a webcast conference call. The presentation will be in English and is webcasted live on www.paresources.se start page. 

To participate via phone, please call:
Sweden: +46 8 505 598 53
UK: +44 203 043 24 36
US: +1 866 458 40 87

The presentation material will be published on www.paresources.se, where you can also view and listen to the presentation afterwards on-demand.


PA Resources AB (publ) is an international oil and gas group with the business strategy to acquire, develop, exploit and divest oil and gas reserves, as well as explore new findings. The Group operates in Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United Kingdom, Denmark, Greenland, Netherlands and Germany. PA Resources is one of the largest oil producers in Tunisia and is also producing oil in the Republic of Congo. The parent company is located in Stockholm, Sweden. PA Resources’ net sales amounted to SEK 2,227 million during 2010. The company is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid Cap). For additional information, please visit www.paresources.se

The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 08.15 CET on 16 February, 2011.  

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