SUMMARY
· Group revenue for the fourth quarter totalled SEK 467 million (535).
· EBITDA for the quarter was SEK 266 million (306).
· Profit before tax for the fourth quarter was SEK -16 million (11), excluding
one-off costs.
· Operating cash flow improved to SEK 175 million (-106) for the quarter and
to SEK 838 million (812) for the full year.
· A recapitalisation was carried out at the end of 2012 and completed in early
2013, increasing shareholders' equity by approximately SEK 1,570 million.
- 90% of the convertible bond was converted to new shares – shareholders' equity
increased by SEK 968 million, while interest-bearing nominal debt decreased by
SEK 890 million.
- A fully underwritten rights issue was carried out, raising SEK 705 million
before issue costs.
FINANCIAL KEY RATIOS
Q4 2012 Q4 2011 Jan.-Dec. 2012 Jan.-Dec. 2011
Revenue (SEK 467 535 2,184 2,154
million)
EBITDA (SEK 266 306 1,255 1,295
million)
EBITDA margin 56.9% 57.2% 57.5% 60.1%
Operating profit 178 121 684 508
(SEK million) *
Operating margin * 38.2% 22.7% 31.3% 23.6%
Profit before tax -16 11 85 158
(SEK million) *
Earnings per share -0.24 -2.91 -2.36 -3.27
after dilution
(SEK)
* The figures for the fourth quarter and 12-month period 2012 are exclusive of
non-cash, one-off costs of SEK 169 million and SEK 1,748 million, respectively,
before tax. Following total impairment charges for the Azurite field that were
recognised during the third quarter of 2012, all additional investment costs,
totalling SEK 151 million, have been expensed. The figures for the full year as
well as for the fourth quarter of 2011 are exclusive of non-cash, one-off costs
of SEK 2,035 million before tax.
For the complete Interim Report, see attached file.
Stockholm, 6 February 2013
PA Resources AB (publ)
For queries, please contact:
Bo Askvik, President and CEO, PA Resources
+46 8 545 211 50
Webcast conference call
PA Resources' results for the fourth quarter of 2012 will be presented on 6
February 2013 at 10 a.m. (CET) via a webcast conference call. To participate,
use the following link:
http://storm.zoomvisionmamato.com/player/paresources/objects/qyf5671d/
To participate via phone, please call:
Sweden: +46 8 505 598 53
UK: +44 203 043 24 36
US: +1 866 458 40 87
An on demand version is available after the presentation on www.paresources.se.
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, the Republic of Congo (Brazzaville), Equatorial Guinea, the
United Kingdom, Denmark, Greenland, the Netherlands and Germany. PA Resources is
producing oil in West Africa and North Africa. The parent company is located in
Stockholm, Sweden. PA Resources’ net sales amounted to SEK 2,184 million in
2012. The company is listed on NASDAQ OMX in Stockholm, Sweden. For additional
information, please visit 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 08.15 CET am on 6 February 2013.
