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

Media Contact
   
Leif Borge
Chief Financial Officer
Tel: +47 917 86 291
E-mail: leif.borge@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.