Akastor ASA: Second Quarter and Half Year Results 2021

Akastor CEO Karl Erik Kjelstad comments: Akastor CEOKarl Erik Kjelstadcomments: "During the second quarter, we have had strong focus on planning for the upcoming integration between MHWirth and Baker Hughes SDS to ensure that the new combined company will be fully operational from day one after closing. We are content with the progress made in the period and look very much forward to closing of the transaction. In the second quarter, we were also happy to see MHWirth delivering good...

Akastor CEO Karl Erik Kjelstad comments:

"During the second quarter, we have had strong focus on planning for the upcoming integration between MHWirth and Baker Hughes SDS to ensure that the new combined company will be fully operational from day one after closing. We are content with the progress made in the period and look very much forward to closing of the transaction. In the second quarter, we were also happy to see MHWirth delivering good growth compared to last quarter driven by its strong service business. Also, DDW Offshore's lease agreements with OceanPact commenced in the quarter with two vessels now on bareboat contracts, contributing positively to this quarter's consolidated financials as well as securing a steady cash flow for Akastor over the lifetime of the contracts."

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Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Jing Li Taklo, Head of Financial Reporting at Akastor ASA, on 15 July 2021 at 07:00 CET.

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