Awilco Drilling PLC: Awilco Drilling Reports Q1 2018 Results


Awilco Drilling PLC reported contract revenue of USD 34.1 million (USD 33.9 million in Q4 2017), EBITDA USD 24.0 million (USD 24.5 million in Q4 2017) and net profit of USD 19.1 million (USD 16.9 million loss in Q4 2017).

Revenue efficiency was 98.0% during the quarter (95.2 % in Q4 2017).

Contract utilisation was 50.0% during the quarter, (50 % in Q4 2017).

Contract backlog at the end of Q1 was approximately USD 7.6 million (approximately USD 41 million Q4 2017).

During the quarter, a contract was signed with Keppel FELS shipyard in Singapore for the building of one new CS60 ECO MW semisubmersible drilling rig, with options to build up to three additional rigs, such options to be independent of each other.

The Board approved a dividend distribution payable in Q2 2018 of USD 0.20 per share.  The shares will trade ex-dividend on 22 May 2018, the record date is 23 May 2018 and the payment date is on or around 22 June 2018.

Please see attached for the Q1 2018 report.


A quarterly presentation will be held on 9 May 2018 at 10:30 CET in Awilhelmsen's offices at Beddingen 8, Aker Brygge, Oslo, Norway.
A conference call will be held on 9 May 2018 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 or copy and paste the following address into your browser:
http://members.meetingzone.com/selfregistration/registration.aspx?booking=i8X4Md8r0fTkCy6oGaQOyFubXjlsCNFqdIA5XxLnnv8=
Once registered, you will receive an email with dial-in numbers and pins.

Aberdeen, 9 May 2018


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.

Attachments:
AWDR Q1 2018 report