Awilco Drilling PLC reported contract revenue of USD 33.9 million (USD 32.4 million in Q3), EBITDA loss of USD 20.5 million (USD 20.9 million profit in Q3) and net loss of USD 23.8 million after an impairment charge of USD 45 million (USD 14.2 million profit in Q3).
Revenue efficiency was 95.2% during the quarter (91.1 % in Q3).
Contract utilisation was 50.0% during the quarter, (50 % in Q3).
Contract backlog at the end of Q4 was approximately USD 41 million (approximately USD 76 million Q3).
The Board approved a dividend distribution payable in Q1 2018 of USD 0.20 per share. The shares will trade ex-dividend on 20 February 2018, the record date is 21 February 2018 and the payment date is on or around 23 March 2018.
Please see attached for the Q4 2017 report.
A quarterly presentation will be held on 15 February 2018 at 10:30 CET in Awilhelmsen’s offices at Beddingen 8, Aker Brygge, Oslo, Norway.
A conference call will be held on 15 February 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:
Once registered, you will receive an email with dial-in numbers and pins.
Aberdeen, 15 February 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.