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2016-11-01

Akastor ASA: Third Quarter Results 2016

HIGHLIGHTS:

* EBITDA for continuing operations of NOK 127 million
* Net debt reduced by NOK 658 million to NOK 4.8 billion, working capital
reduced by NOK 483 million to NOK 1 520 million, liquidity reserve at NOK
2.2 billion
* Several transactions announced; * Sold Managed Pressure Operations to
AFGlobal for USD 10 million and potential earn out * Creation of
Mitsui/AKOFS 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
* AKOFS Offshore reached a final agreement with Petrobras regarding
contracts.

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

Akastor Q3_2016 Report
http://hugin.info/77/R/2053248/768481.pdf
Akastor Q3_2016 Presentation
http://hugin.info/77/R/2053248/768482.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Akastor ASA via Globenewswire

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