Russia Oil Gas Magazine
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  • 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

    NOK million

     

    Q4 18

     

    Q4 17

    Operating revenue and other income

       1 090

     895

    EBITDA

     63

     96

    EBIT

     21

     23

    CAPEX and R&D capitalization

     37

     35

    NCOA

     375

     857

    Net capital employed

     4 556

     7 566

    Order intake

     980

     1 291

    Order backlog

     2 692

     1 948

    Net interest-bearing debt

     146

    2 363

    Employees

     1 775

     2 015

    Financial Calendar

    Annual Report 2018: March 19, 2019

    First Quarter Results 2019: May 2, 2019

    source

     

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