Akastor ASA: Q1 2016 Results

Highlights

* Stable net debt at NOK 5 077 million, working capital decreased by NOK 282
million to NOK 2 058 million, liquidity reserve of NOK 2.5 billion
* EBITDA of NOK -12 million, including special items of NOK -104 million
* Refinancing of long-term credit facilities concluded in the quarter
* Weak market conditions continue across the portfolio significantly impacting
revenue
* Cost and capacity reductions continue as well as focused efforts to
strategically develop portfolio companies during the downturn
* Frontica secured five-year contract with Aker Solutions, boosting order
intake for the quarter

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


[HUG#2008831]