FORNEBU, Norway, Aug. 13, 2024 /PRNewswire/ -- Reference is made to Akastor ASA's press release 3 June 2024 concerning its 50% owned affiliate HMH Holding B.V. and the confidential first draft registration statement on Form S-1 that was submitted with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of HMH Holding Inc.'s shares. As part of the customary SEC review process, HMH has [...]
Aker Solutions has delivered another strong quarter with growth in revenues, margins and cash generation compared to the same period last year. Several key milestones have been met on the project portfolio in the period. Aker Solutions now expects revenues in 2024 to grow to a level of around NOK 50 billion, representing a year-on-year growth of around 40 percent, with EBITDA margins around 7.5 percent excluding net [...]
FORNEBU, Norway, July 11, 2024 /PRNewswire/ -- Second Quarter Highlights DRU arbitration concluded, with USD 176 million received in cash and an accounting gain of NOK 748 million in the second quarter Net interest-bearing debt reduced by NOK 1.6 billion in the quarter, with net interest-bearing items in a net cash position of NOK 831 million per end of June 2024 Corporate bank facility amended and extended to June 2026 [...]
Akastor ASA invites investors and analysts to a webcast presentation of first quarter 2024 financial results on Thursday 11 July 2024. Date and time: Thursday 11 July 2024 at 15:00 CET Presenters: Akastor - Karl Erik Kjelstad, CEO and Øyvind Paaske, CFO HMH - Eirik Bergsvik, CEO and Thomas McGee, CFO Link to webcast: https://channel.royalcast.com/landingpage/hegnarmedia/20240711_8/ Questions can be submitted throughout [...]
FORNEBU, Norway, June 3, 2024 /PRNewswire/ -- Akastor ASA's 50% owned affiliate HMH Holding B.V. has today announced that its subsidiary HMH Holding Inc. has submitted a confidential first draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of HMH Holding Inc.'s shares. This filing represents the first step of a possible US listing of [...]
FORNEBU, Norway, May 31, 2024 /PRNewswire/ -- Akastor ASA's subsidiary Akastor AS has today received 3,023,886 shares in Odfjell Drilling Ltd. , pursuant to a warrant investment agreement that was entered into in 2018. The subscription price paid for the shares was USD 0.01 per share. Reference is made to Akastor's announcement 27 April 2018. The shares received represent a total value of NOK 169 million based on ODL [...]
Aker Solutions' consultancy has today announced plans to double its revenues and headcount by 2030 as it introduces its new name, Entr. Entr's growth is driven by an increased demand for Aker Solutions' early phase offerings and the need to adapt its services for new and existing markets. Entr's growth will be achieved through a significant increase in core headcount from 300 to more than 600 employees across its global [...]
FORNEBU, Norway, May 21, 2024 /PRNewswire/ -- Reference is made to Akastor ASA's announcements dated 18 and 22 April 2024 on the arbitration award issued in respect of the DRU contracts. The parties to the arbitration have reached an agreement on settlement of the claims that remain unpaid, which includes interest and certain costs, whereby USD 68 million shall be paid to MHWirth AS as full and final settlement. Payment [...]
Aker Solutions has been awarded a substantial1 EPCIC-contract by Equinor to upgrade the wastewater treatment plant facilities and lower the environmental impact of the Mongstad refinery on the west coast of Norway. The Mongstad refinery, situated 70 km north of Bergen, is closely integrated with an oil-terminal connected to multiple oilfields in the North Sea. It also interfaces with crude tankers that are docked at the [...]
FORNEBU, Norway, April 26, 2024 /PRNewswire/ -- Reference is made to Akastor ASA's announcement dated 18 April 2024 on the arbitration award issued in respect of the DRU contracts. Payment of the principal sums awarded, in total USD 108 million , has now been received. MHWirth AS and Akastor are engaging with the counterparty in respect of the amount of interest awarded. Reference is made to announcement dated 22 April [...]
Aker Solutions has delivered strong revenue growth and improved profitability in the first quarter of 2024 compared to the same period last year. With a solid backlog and high tendering activity, the company is well positioned for future profitable growth. 1Q, 2024 Financial Highlights Revenue NOK 11.5 billion EBITDA NOK 987 million EBITDA margin 8.6 percent Earnings per share NOK 1.40 Order intake NOK [...]
FORNEBU, Norway, April 25, 2024 /PRNewswire/ -- First Quarter Highlights HMH delivered an EBITDA of USD 33 million in quarter, about 75% increase year-over-year driven by higher aftermarket activity NES Fircroft delivered 17% increase in EBITDA and 12% revenue growth year-on-year DRU arbitration award received in April, with about USD 108 million awarded as payment of termination fees and reimbursement of costs, resulting [...]
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