THIRD QUARTER SUMMARY
· Group revenue totalled SEK 293 million (525).
· EBITDA** was SEK 64 million (292).
· Profit before tax* was SEK 10 million (64).
· Proceeds of SEK 810 million after transaction costs were received through
the completed rights issue.
· Through the rights issue Gunvor Group increased its ownership to 49.96%.
· New bonds of SEK 750 million were issued, and the previous SEK 850 million
bond loan was repaid in the beginning of October.
· Mark McAllister was appointed President and CEO.
FINANCIAL KEY RATIOS
Q3 Q3 Jan. Jan.-Sept. 2012 Jan.-Dec. 2012
2013 2012 -Sept.
2013
Revenue (SEK 293 525 1,070 1,717 2,184
million)
EBITDA (SEK 64 292 447 990 1,255
million)**
EBITDA margin** 21.9 55.7% 41.8 57.6% 57.5%
Operating profit 35 151 284 512 684
(SEK million) *
Operating margin * 11.9% 28.8% 26.5% 29.8% 31.3%
Profit before tax 10 64 141 107 85
(SEK million) *
Profit for the -501 -1,385 -817 -1,626 -1,966
period
Earnings per share -8.53 -925.44 -22.93 -1,086.45 -1,006.22
after dilution (SEK)
* The figures for the third quarter and first nine months 2013 are exclusive of
non-cash, one-off costs of SEK 469 million and SEK 1,138 million before tax, and
SEK 469 million and SEK 792 million after tax, respectively. The figures for the
third quarter and first nine months 2012 are exclusive of non-cash, one-off
costs of SEK 1,495 million and SEK 1,585 million before tax, and SEK 1,370
million and SEK 1,460 million after tax, respectively. Figures for the full year
2012 are exclusive of non-cash, one-off costs of SEK 1,748 million before and
after tax.
** EBITDA and the EBITDA margin are exclusive of non-cash, one-off costs of SEK
469 million for the third quarter of 2013, and SEK 931 million for the first
nine months of 2013.
For the complete Interim Report, see attached file.
Webcast conference call
PA Resources' results for the third quarter 2013 will be presented on 23 October
2013 at 10 a.m. (CET) via a webcasted conference call. Use the following link to
participate:
http://storm.zoomvisionmamato.com/player/paresources/objects/pb6rdvqy/
To participate via phone, please call:
SE: +46 8 505 564 74
UK: +44 203 364 5374
US: +1 855 753 2230
Stockholm, 23 October 2013
PA Resource AB (publ)
For queries, please contact:
Tomas Hedström, CFO
+46 8 545 211 50
PA Resources AB (publ) conducts exploration, development and production of oil
and gas assets. The Group operates in Tunisia, Republic of Congo (Brazzaville),
Equatorial Guinea, United Kingdom, Denmark, 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 share is listed on the 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 7.45 a.m. CET on 23 October, 2013.
