Yesterday, Akastor ASA reported their Q2 results for 2024. We are proud to share that HMH delivered an adjusted EBITDA from the last twelve months of $153 million at the end of the second quarter, marking an increase of 39% year-over-year. To learn more, we invite you to read Akastor’s Q2 presentation: https://lnkd.in/epdyUJvB
Akastor today reported second quarter results for 2024. • 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. The facility, with a size of USD 30 million, was not drawn per end of period • Approximately 3 million shares received in Odfjell Drilling in period pursuant to a warrant agreement • HMH continues to deliver strong financials, with an LTM EBITDA (adj.) of USD 153 million per end of the second quarter, up 39% compared to last year • HMH filed a confidential draft registration for a potential US IPO which may occur in the second half of 2024, pending market conditions • Equity of NOK 5.5 billion per end of period, corresponding to NOK 20.2 per share, increased from NOK 17.2 per share per end of the first quarter driven by final DRU settlement Join our webcast presentation at 15:00 CET today. For more information: https://lnkd.in/dNEg77yF