Akastor — Earnings Release 2016

May 2, 2016

Akastor ASA: Q1 2016 Results

Akastor ASA: Q1 2016 Results

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.

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