AWDR - Awilco Drilling Reports Q4 2015 Results
Awilco Drilling PLC reported contract revenue of USD 19.1 million (USD 90.4 million in Q3), EBITDA of USD 3.7 million (USD 74.0 million in Q3) and net loss of USD 32.9 million after an impairment charge of USD 30 million (USD 57.7 million profit in Q3).
Revenue efficiency was 97.7% whilst operational during the quarter (90.3% in Q3).
Contract utilisation including unpaid shipyard time was 50.0% during the quarter, excluding unpaid shipyard time was 26.1% (60.2% in Q3).
Contract backlog at the end of Q4 was approximately USD 258 million (approximately USD 276 million Q3).
The Board approved a dividend distribution payable in Q1 2016 of USD 0.25 per share. The share will trade ex-dividend on 23 February 2016, the record date is 24 February 2016 and the payment date is on or around 18 March 2016.
Please see attached for the Q4 2015 report.
A quarterly presentation will be held on 11 February 2016 at 10:30 CET in Awilhelmsen's offices at Beddingen 8, Aker Brygge, Oslo, Norway.
A conference call will be held on 11 February 2016 at 14:00 UK time (15:00pm CET / 09:00 EST). The presentation will be available for download on the Investor Relations section (go to "Press Releases") at www.awilcodrilling.com prior to the call. There will be a Q&A session after the presentation.
Click this link to register for the conference call. Once registered, you will receive an email with dial-in numbers and pins.
Aberdeen, 11 February 2016
For further information please contact:
Jon Oliver Bryce, CEO
Phone: +44 1224 737900
Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.