Akastor ASA: Fourth quarter and preliminary annual results 2016

Highlights:

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


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Media Contact:



Akastor

Tore Langballe, Head of Communications

+47 907 77 841

tore.langballe@akastor.com

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