Second Quarter Results 2020
MHWirth reported revenues of NOK 1052 million in the second quarter 2020. Revenues for MHWirth Project & Products were NOK 493 million, a decrease of 8% compared to last year. Drilling Lifecycle Services & Digital Technologies revenues were NOK 559 million, an increase of 1% compared to last year.
EBITDA for the second quarter was NOK 110 million, giving an EBITDA margin of 10.4%.
Akastor CEO Karl Erik Kjelstad comments:
“We are happy to see that all of our industrial holdings delivered positive contribution in the second quarter despite challenging market conditions. MHWirth delivered solid financial performance driven by continued good contribution from services in the quarter, demonstrating the robustness of their business model. As the market conditions are still uncertain going forward, all portfolio companies are continuously taking concrete actions to mitigate impact by adjusting cost base to align with activity level. Key focus for Akastor in 2020 remains to safeguard operations and secure financial strength.”
Complete information – Akastor ASA Second Quarter Results 2020 presentation