Akastor ASA: Fourth Quarter Results 2018

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

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.