Akastor ASA: Second Quarter and Half Year Results 2024
FORNEBU,
Second Quarter Highlights
- DRU arbitration concluded, with
USD 176 million received in cash and an accounting gain ofNOK 748 million in the second quarter - Net interest-bearing debt reduced by
NOK 1.6 billion in the quarter, with net interest-bearing items in a net cash position ofNOK 831 million per end ofJune 2024 - Corporate bank facility amended and extended to
June 2026 . The facility, with a size ofUSD 30 million , was not drawn per end of period - Approximately 3 million shares received in Odfjell Drilling in period pursuant to a warrant agreement
- HMH continues to deliver strong financials, with an LTM EBITDA (adj.) of
USD 153 million per end of the second quarter, up 39% compared to last year - HMH filed a confidential draft registration for a potential US IPO which may occur in the second half of 2024, pending market conditions
- Equity of
NOK 5.5 billion per end of period, corresponding toNOK 20.2 per share, increased fromNOK 17.2 per share per end of the first quarter driven by final DRU settlement
"We were very pleased to see the DRU arbitration come to a final conclusion in the second quarter. The award was a significant milestone, enabling us to eliminate all corporate debt and place
The second quarter presentation and half year report are attached to this release and also available at www.akastor.com.
Media Contact
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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https://mb.cision.com/Public/18618/4013788/ac6dabb95772c44a.pdf |
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