Akastor ASA: Third Quarter Results 2016

HIGHLIGHTS:

  • EBITDA for continuing operations of NOK 127 million
  • Net debt reduced by NOK 658 million to NOK 4.8 billion, working capital reduced by NOK 483 million to NOK 1 520 million, liquidity reserve at NOK 2.2 billion
  • Several transactions announced;
    • Sold Managed Pressure Operations to AFGlobal for USD 10 million and potential earn out 
    • Creation of Mitsui/AKOFS joint venture; cash release of USD 66 million
    • Sale of Frontica Business Solutions to Cognizant for NOK 1 025 million 
    • Sale of Fjords Processing to National Oilwell Varco (NOV) for NOK 1 200 million
  • AKOFS Offshore reached a final agreement with Petrobras regarding contracts.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
Akastor Q3_2016 Report
Akastor Q3_2016 Presentation



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Source: Akastor ASA via GlobeNewswire

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