Akastor ASA

Akastor ASA will present its financial results for the third quarter of 2024 on Wednesday, 30 October 2024, at 15:00 CET. Link to webcast: https://lnkd.in/dyNupg4Q

DDW Offshore secures two contracts with an international oil company Akastor's subsidiary DDW Offshore has been awarded two one-year contracts, each with a further 24-month priced option structure, with an international oil company for the anchor handling tug supply (AHTS) vessels Skandi Peregrino and Skandi Atlantic. The vessels will provide anchor handling and towage services in Australia, commencing on January 1, 2025, and March 1, 2025, respectively. Link to press release: https://lnkd.in/dJEbmqNQ

Celebrating 10 Years of Akastor! Yesterday, we had the pleasure of celebrating Akastor’s 10th anniversary at Aker Tech House, joined by our valued partners, advisors, and friends. A highlight of the evening was a fireside chat with Akastor’s current and former CEOs and Chairmen, Karl Erik Kjelstad, Frank Ove Reite, Kristian Røkke, and Øyvind Eriksen, where they shared insightful reflections on Akastor’s journey over the past decade and offered their perspectives on the road ahead. We would like to thank everyone who joined us for this important milestone. Your support has been key to our progress, and we look forward to continuing the journey together.

Akastor’s CEO Karl Erik Kjelstad presented at Pareto Securities’ 31st annual Energy Conference this week. Thanks to Pareto for letting us be among the participating companies, and for facilitating a number of investor meetings at the conference that hosted over 2,000 industry professionals and investors. The presentation is available on our website: https://lnkd.in/dxT9pJtB

Akastor today reported second quarter results for 2024. • DRU arbitration concluded, with USD 176 million received in cash and an accounting gain of NOK 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 of NOK 831 million per end of June 2024 • Corporate bank facility amended and extended to June 2026. The facility, with a size of USD 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 to NOK 20.2 per share, increased from NOK 17.2 per share per end of the first quarter driven by final DRU settlement Join our webcast presentation at 15:00 CET today. For more information: https://lnkd.in/dNEg77yF

Akastor ASA will present its financial results for the second quarter of 2024 on Thursday 11 July 2024, at 15:00 CET. Link to webcast: https://lnkd.in/djbzG7p7

We are happy to announce that Bruce Lethuillier has been appointed Investment Director from July 1st, 2024. Bruce joined Akastor in 2015 as Head of Treasury and in 2021 he was appointed Senior Investment Manager and Head of Treasury. Prior to joining Akastor Bruce held various positions in the Corporate and Investment Banking departments of BNP Paribas and Citi. Akastor CEO Karl Erik Kjelstad says: «We are very pleased to promote Bruce to the position as Investment Director. During his time at Akastor, Bruce has in addition to the role as Head of Treasury been a strong contributor on our M&A projects and has received increased responsibility related to supporting and developing our portfolio companies."

Akastor's CEO Karl Erik Kjelstad recently joined Nordnet Bank AB's Roger Berntsen for a conversation about Akastor and its prospects. Watch a video of the conversation here: https://lnkd.in/dbBq5Bqj

Akastor's portfolio company Føn Energy Services and Dutch offshore wind farm services company C-Ventus Offshore Windfarm Services BV are joining forces!

Akastor today reported First Quarter Results for 2024. • HMH delivered an EBITDA (adj.) of USD 33 million in quarter, about 75% increase year-over-year driven by higher aftermarket activity • NES Fircroft delivered 17% increase in EBITDA and 12% revenue growth year-on-year • DRU arbitration award received in April, with about USD 108 million awarded as payment of termination fees and reimbursement of costs, resulting in a positive accounting effect of NOK 599 million in 1Q. In addition, compensation for interest has been calculated to about USD 65 million, which will be accounted for in 2Q. • Net capital employed increased with 0.9 billion in quarter to NOK 5.5 billion. Equity of NOK 4.7 billion per end of quarter, corresponding to NOK 17.2 per share, up from NOK 14.6 per share per end of last quarter. Join our webcast presentation at 15:00 CET today.   For more information: https://lnkd.in/dxBe4K5d