Awilco Drilling PLC reported contract revenue of USD 24.4 million (USD nil in Q1), EBITDA USD 12.2 million (USD 13.4 million loss in Q1) and net profit of USD 6.9 million (USD 18.7 million loss in Q1).
Revenue efficiency was 95.3% during the quarter (nil in Q1).
Contract utilization including unpaid shipyard time was 50.0% during the quarter, (50% in Q1).
Contract backlog at the end of Q2 was approximately USD 231 million (approximately USD 258 million Q1).
The Board approved a dividend distribution payable in Q3 2016 of USD 0.10 per share. The shares will trade ex-dividend on 23 August 2016, the record date is 24 August 2016 and the payment date is on or around 23 September 2016.
Please see attached for the Q2 2016 report.
A quarterly presentation will be held on 17 August 2016 at 10:30 CET in Awilhelmsen’s offices at Beddingen 8, Aker Brygge, Oslo, Norway.
A conference call will be held on 17 August 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, 17 August 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.