PA Resources’ Year-End Report 2011
SUMMARY
· Group revenue for the fourth quarter amounted to SEK 535 million (698).
· EBITDA for the quarter was SEK 306 million (438).
· Profit before tax for the fourth quarter amounted to SEK 11 million (91)
excluding one-off costs, and SEK -2,024 million (91) including one-off costs.
· As previously disclosed, during the fourth quarter non-cash, one-off costs
of SEK 2,035 million before tax and SEK 1,758 million after tax were recognised.
· Production of oil commenced on the Aseng field in Equatorial Guinea in early
November and is making a cash flow contribution as from January 2012.
· Operating cash flow improved for the full year to SEK 812 million (416).
· The commercial discovery on Broder Tuck and the oil discovery on Lille John
are initially contributing 32 million barrels of oil equivalents in contingent
resources.
FINANCIAL KEY RATIOS
Q4 2011 Q4 2010 Jan.-Dec. 2011 Jan.-Dec. 2010
Revenue (SEK 535 698 2,154 2,227
million)
EBITDA (SEK 306 438 1,295 1,276
million)
EBITDA margin 57.2% 62.7% 60.1% 57.3%
Operating profit 121 219 508 490
(SEK million) *
Operating margin * 22.7% 31.3% 23.6% 22.0%
Profit/loss before 11 91 158 179
tax (SEK million) *
Earnings per share -2.91 -0.23 -3.27 -0.61
after dilution
(SEK)
* Figures for the full year as well as the fourth quarter of 2011 exclude
non-cash, one-off costs of SEK 2,035 million before tax and SEK 1,758 million
after tax.
(For complete Year-End Report, see the attached file)
Stockholm, 15 February, 2012
PA Resources AB (publ)
For additional information, please contact:
Nicolas Adlercreutz
CFO, PA Resources AB
Telephone: +46 8 545 211 56
E-mail: ir@paresources.se
or
Bo Askvik
President and CEO, PA Resources AB
Telephone: +46 8 545 211 50 (switchboard)
Webcast conference call
PA Resources’ results for the fourth quarter and full year 2011 will be
presented on 15 February at 10 a.m. (CET) via a webcast conference call. The
live webcast and presentation material may be accessed on www.paresources.se. An
on demand version is also available after the presentation.
Link to webcast:
http://storm.zoomvisionmamato.com/player/paresources/objects/40wy8jmt/
To participate via phone, please call:
Sweden: +46 8 505 598 53
UK: +44 203 043 24 36
US: +1 866 458 40 87
PA Resources AB (publ) is an international oil and gas group which conducts
exploration, development and production of oil and gas assets. The Group
operates in Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United
Kingdom, Denmark, Greenland, Netherlands and Germany. PA Resources is one of the
larger oil producers in Tunisia and is also producing oil in the Republic of
Congo and Equatorial Guinea. The parent company is located in Stockholm, Sweden.
PA Resources’ net sales amounted to SEK 2,154 million during 2011. The company
is listed on the NASDAQ OMX Stockholm (segment Mid Cap). For additional
information, see 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 07.45 CET on 15 February, 2012.
