Akastor ASA ( (AKKVF) ) has released its Q1 earnings. Here is a breakdown of the information Akastor ASA presented to its investors.
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Akastor ASA is a Norway-based investment company primarily engaged in the oilfield services sector, with a diverse portfolio including drilling equipment, engineering staffing, and subsea well services.
In its first-quarter 2025 earnings report, Akastor ASA highlighted a stable financial performance with notable strategic moves, including an increase in ownership of AKOFS Offshore and a significant vessel sale agreement. The company reported an adjusted EBITDA of USD 33 million and a positive free cash flow of USD 15 million.
Key financial metrics for the quarter include an order intake of USD 198 million, maintaining a book-to-bill ratio of 1x. The company completed the refinancing of AKOFS Seafarer and signed an agreement to sell Skandi Peregrino for USD 25 million, with plans to distribute a portion of the proceeds as dividends. Additionally, Akastor increased its stake in AKOFS Offshore to 66.7% and secured a top ranking in Petrobras’ tender for a multi-year contract.
Looking ahead, Akastor ASA remains focused on optimizing its portfolio through strategic acquisitions and divestitures, while aiming to maintain strong operational performance across its holdings. The management continues to adapt to market trends and economic uncertainties, with a commitment to shareholder value through potential future distributions.