Akastor ASA: Second Quarter and Half Year Results 2025

10 Jul 2025 07:00 CEST

Second Quarter Highlights

* A cash dividend of NOK 0.35 per share will be paid on or around 23 July,
reflecting the positive cash generation in the second quarter.
* Akastor reduced its holding in Odfjell Drilling by 50% in June and July,
with total proceeds from divestments reaching NOK 104 million, of which NOK
47 million received in cash in the second quarter.
* HMH delivered stable revenues, with margins showing resilience despite
softer rig market sentiment. Adjusted EBITDA was USD 36 million, with a
margin of 17.7% for the quarter.
* AKOFS Santos nominated for award of a four-year MPSV contract by Petrobras,
expected to commence in Q3 2026, subject to final signing. Total gross
contract value estimated at USD 246 million.
* Skandi Peregrino commenced its new contract in Australia in the second
quarter, bringing all three DDW Offshore vessels on contract.
* Equity of NOK 5.5 billion per end of period, corresponding to NOK 20.0 per
share

Akastor CEO Karl Erik Kjelstad comments:

"We are pleased to announce Akastor's first-ever shareholder distribution that
reflects the solid cash generation in the second quarter. This marks an
important milestone and is in line with our strategy to return excess capital
to shareholders. The distribution to shareholders reflects a solid financial
position, and with continued operational progress, we believe we are well
positioned for long-term value creation. HMH delivered stable revenues,
showing resilience in a softer rig market. We are pleased that AKOFS Offshore
has been nominated for a new four-year contract for AKOFS Santos. The contract
is important both strategically and financially, as it will support improved
earnings and strengthen the platform for further development of the company."

The second quarter presentation and half year report are attached to this
release and also available at www.akastor.com.

Media Contact

Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com


Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Jing Li Taklo, Head of Financial Reporting,
Akastor ASA, on July 10, 2025, at 07:00 CET.

More information:
Access the news on Oslo Bors NewsWeb site

650987_Akastor ASA Q2 2025 Presentation.pdf
650987_Akastor ASA Half Year Report 2025.pdf