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

Financial Calendar

Annual Report 2018: March 19, 2019

First Quarter Results 2019: May 2, 2019

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