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Akastor ASA (AKAS.OL)

AKAS.OL on Oslo Stock Exchange

8.71NOK
6 Dec 2019
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Latest Key Developments (Source: Significant Developments)

Akastor Q2 EBITDA Up At NOK 114 Million
Wednesday, 17 Jul 2019 

July 17 (Reuters) - Akastor ASA ::REG-AKASTOR ASA: SECOND QUARTER AND HALF YEAR RESULTS 2019.Q2 REVENUE OF NOK 1 304 MILLION IN QUARTER WITH GROWTH OF 49 PERCENT FROM PREVIOUS YEAR.Q2 EBITDA OF NOK 114 MILLION IN QUARTER.Q2 ORDER INTAKE OF NOK 1.8 BILLION IN QUARTER, RESULTING IN ORDER BACKLOG OF NOK 3.5 BILLION.  Full Article

Akastor's wholly owned subsidiary MHWirth entered into agreements with Bronco Holdings
Friday, 7 Jun 2019 

June 7 (Reuters) - Akastor ASA ::REG-AKASTOR ASA: MHWIRTH STRENGTHENS ONSHORE AFTERMARKET SERVICES THROUGH ACQUISITION OF BRONCO MANUFACTURING.AGREEMENTS ARE FORMALLY ENTERED INTO THROUGH MHWIRTH'S US SUBSIDIARY, MHWIRTH INC.BRONCO WILL BE CONSOLIDATED INTO MHWIRTH SEGMENT IN AKASTOR GROUP..AKASTOR-WHOLLY OWNED SUBSIDIARY MHWIRTH, ENTERED AGREEMENTS WITH BRONCO HOLDINGS FOR PURCHASE OF 100% OWNERSHIP INTERESTS IN BRONCO MANUFACTURING.AKASTOR- AGREEMENTS WITH BRONCO HOLDINGS IS FOR A TOTAL CONSIDERATION OF USD 31.5 MILLION.AKASTOR- AKASTOR HAS DRAWN ON ITS CREDIT FACILITY TO FINANCE THE TRANSACTION.MHWIRTH HAS PURCHASED A REPRESENTATION AND WARRANTY INSURANCE FOR TRANSACTION..AGREEMENTS WITH BRONCO HOLDINGS IS FOR A TOTAL CONSIDERATION OF USD 31.5 MILLION ON A CASH-FREE, DEBT-FREE BASIS.  Full Article

Arbitration ruling to impact Akastor's results negatively -statement
Friday, 1 Feb 2019 

Feb 1 (Reuters) - Akastor ASA ::MANAGED PRESSURE OPERATIONS PTE LTD (MPO), A FORMER AKASTOR OWNED COMPANY, HAS RECENTLY RECEIVED AN ARBITRATION AWARD FROM LONDON COURT OF INTERNATIONAL ARBITRATION (LCIA) WHEREBY MPO IS FOUND LIABLE UNDER A PROJECT ORIGINALLY INITIATED IN 2012.ARBITRATION PROCEEDINGS INITIATED IN 2016 HAVE NOW LED TO A DISAPPOINTING RESULT WHICH WILL IMPACT AKASTOR'S FINANCIAL RESULTS.MAXIMUM FINANCIAL IMPACT FOR AKASTOR IS USD 29 MILLION, OF WHICH USD 6 MILLION ALREADY HAS BEEN ACCOUNTED FOR.FINAL FINANCIAL IMPACT FOR AKASTOR IS CURRENTLY UNCERTAIN AS IT IS DEPENDENT ON INTER ALIA ENFORCEMENT OF AWARD AGAINST MPO.  Full Article

Akastor Q3 EBITDA NOK 87 mln, sees new loan agreement in q4
Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - Akastor ASA ::TOTAL Q3 REVENUES WERE NOK 955 MILLION, COMPARED TO REVENUES OF NOK 1 249 MILLION SAME QUARTER PREVIOUS YEAR (WHICH INCLUDED NOK 500 MILLION FROM A SETTLEMENT AGREEMENT).Q3 EBITDA WAS NOK 87 MILLION, COMPARED TO EBITDA OF NOK 80 MILLION IN Q3 2017 ADJUSTED FOR SEVERAL SPECIAL ITEMS.STRONG BALANCE SHEET, HIGH FINANCIAL CAPACITY WITH LIQUIDITY RESERVE OF NOK 1.6 BILLION.STARTED PROCESS TO REFINANCE EXISTING CREDIT FACILITY (MATURING IN JULY 2019).EXPECTS TO SIGN NEW 3 YEARS LOAN AGREEMENT FOR NOK 2.5 BILLION IN Q4.AKASTOR END-Q3 ORDER BACKLOG NOK 2 759 MILLION VERSUS NOK 1.52 BILLION AT END-Q2.  Full Article

Akastor Q2 Revenue Rises To NOK 873 Million
Friday, 13 Jul 2018 

July 13 (Reuters) - Akastor ASA ::Q2 REVENUE OF NOK 873 MILLION WITH GROWTH OF 25 PERCENT FROM PREVIOUS YEAR.Q2 EBITDA FROM CONTINUING OPERATIONS OF NOK 78 MILLION (EBITDA OF NOK 193 MILLION INCLUSIVE AKOFS OFFSHORE).Q2 ORDER INTAKE OF NOK 4.6 BILLION.FOR THE FIRST HALF YEAR OF 2018, THE RESULT FROM CONTINUING OPERATIONS WAS POSITIVE NOK 86 MILLION.  Full Article

Akastor wins $370 well intervention contract offshore Norway from Equinor
Wednesday, 16 May 2018 

May 16 (Reuters) - Akastor Asa ::REG-AKASTOR ASA: EQUINOR AWARDS AKOFS OFFSHORE LETTER OF INTENT.AKOFS OFFSHORE, A COMPANY OWNED BY AKASTOR ASA, HAS ENTERED INTO A LETTER OF INTENT WITH EQUINOREQNR.OL FOR PROVISION OF YEAR ROUND LIGHT WELL INTERVENTION SERVICES (LWI) ON NORWEGIAN CONTINENTAL SHELF.PURSUANT TO LETTER OF INTENT, CONTRACT PERIOD IS FOR FIVE YEARS, WITH AN OPTION PERIOD OF THREE YEARS.CONTRACT VALUE FOR INITIAL FIVE-YEAR PERIOD IS APPROXIMATELY USD 370 MILLION.WORK IS SCHEDULED TO COMMENCE FIRST HALF OF 2020 AND WILL BE PERFORMED FROM AKOFS SEAFARER WELL INTERVENTION VESSEL.  Full Article

Odfjell Drilling - Private placement of up to USD 200 mln
Thursday, 19 Apr 2018 

April 19 (Reuters) - Odfjell Drilling Ltd ::IS CONTEMPLATING TO OFFER NEW COMMON SHARES IN A PRIVATE PLACEMENT RAISING GROSS PROCEEDS OF UP TO APPROXIMATELY NOK 1.56 BILLION, EQUIVALENT TO UP TO APPROXIMATELY USD 200 MILLION.NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO FINANCE COMPANY'S GROWTH AMBITIONS AND FOR GENERAL CORPORATE PURPOSES.ODFJELL DRILLING IS CONSIDERING VARIOUS OPPORTUNITIES FOR GROWTH AND ONE OPPORTUNITY IS POTENTIAL PURCHASE OF "STENA MIDMAX RIG".NO DECISION HAS BEEN MADE TO PURCHASE UNIT, COMPANY MAY SELECT OTHER ALTERNATIVES TO REALISE ITS GROWTH AMBITIONS AND COMPLETION OF PRIVATE PLACEMENT IS NOT CONDITIONAL UPON COMPANY'S PURCHASE OF UNIT.IN EVENT THAT COMPANY SHOULD DECIDE TO PURCHASE UNIT, UNIT WILL AMONGST OTHER ALSO BE FINANCED THROUGH ISSUANCE OF PREFERENCE SHARES AND WARRANTS TO BE SUBSCRIBED BY AKASTOR AS OR AN AFFILIATE.HAS RETAINED ABG SUNDAL COLLIER, ABN AMRO BANK N.V., DANSKE BANK, DNB MARKETS, NORDEA BANK, PARETO SECURITIES AS AND SPAREBANK 1 MARKETS AS JOINT LEAD MANAGERS AND BOOKRUNNERS FOR THE PRIVATE PLACEMENT. .  Full Article

China's SDIC Power confirms intention to float on London Stock Exchange

LONDON, Nov 26 Chinese power generation group SDIC Power Holdings launched plans to offer global depositary receipts in London on Tuesday, saying it expects to complete the deal in December this year.