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Akastor — Earnings Release 2019
May 2, 2019
3525_rns_2019-05-02_bd58f085-03b2-4c33-9b66-9a7dcc074cf3.html
Earnings Release
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Akastor ASA: First Quarter Results 2019
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: [email protected]
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.