Akastor ASA ( (AKKVF) ) has released its Q4 earnings. Here is a breakdown of the information Akastor ASA presented to its investors.
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Akastor ASA is a Norway-based oil-services investment company, managing a diverse portfolio of industrial holdings and investments with a focus on active ownership and long-term value creation.
In its fourth quarter of 2024, Akastor ASA demonstrated a strong financial performance, marked by increased net capital and solid results from key subsidiaries. The company also made strategic moves in the offshore sector, potentially enhancing its market position.
Key financial metrics for the quarter include a net capital employed increase of NOK 0.2 billion, reaching NOK 5.0 billion, and an equity valuation of NOK 5.9 billion. Notably, HMH reported an adjusted EBITDA of USD 47 million, contributing to a full-year increase of 27% from 2023. AKOFS Offshore secured a significant contract extension with Equinor, adding approximately USD 300 million to its backlog, and also underwent strategic ownership changes. DDW Offshore strengthened its contract backlog, setting a solid foundation for 2025.
The company’s consolidated revenue and EBITDA for the quarter stood at NOK 90 million and NOK 23 million, respectively, with a net profit of NOK 150 million. Akastor’s financial holdings reported a positive outcome, driven by foreign exchange gains and contributions from equity-accounted investments.
Looking forward, Akastor ASA aims to leverage its enhanced market exposure and strategic partnerships to sustain its growth trajectory, while continuing to capitalize on its flexible mandate for active ownership and value creation.