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Thursday, 16 February 2017

Akastor ASA: Fourth quarter and preliminary annual results 2016

Akastor ASA    

Published: 07:00 CET 16-02-2017 /GlobeNewswire /Source: Akastor ASA / : AKA /ISIN: NO0010215684

Akastor ASA: Fourth quarter and preliminary annual results 2016

Several transactions were announced and concluded, releasing approximately NOK 2.6 billion
in cash;
  • Creation of Mitsui/AKOFS Offshore 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
  • Frontica Advantage joined NES Global Talent in January 2017
· EBITDA for continuing operations of NOK 166 million
· Net debt reduced by NOK 2.5 billion to NOK 2.6 billion
· Reduced working capital in continuing businesses by NOK 628 million to NOK 1.1 billion
Media Contact:
Tore Langballe, Head of Communications
+47 907 77 841
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.

Akastor Q416 final report
Akastor Q416 final presentation

This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Akastor ASA, P.O. Box 169, Lysaker N-1325, Norway
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