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Akastor (AKAST) investor relations material

Akastor Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary30 Oct, 2025

Executive summary

  • Announced a NOK 0.40 per share cash dividend, enabled by the full realization of the Odfjell Drilling holding as part of a strategy to return excess capital to shareholders.

  • HMH delivered robust financial performance with Q3 revenue of USD 217 million, adjusted EBITDA of USD 42 million, and a 19.3% margin, despite offshore market headwinds.

  • Portfolio reduced to 8 investments after Odfjell Drilling exit; focus remains on value-enhancing exits and shareholder distributions.

  • AKOFS Offshore maintained high revenue utilization on key vessels, completed a major class renewal survey, and secured a four-year Petrobras contract starting January 2027.

  • DDW Offshore achieved 100% vessel utilization in Australia, with EBITDA of NOK 43 million, and continues to focus on maximizing fleet utilization and potential vessel sales.

Financial highlights

  • HMH reported Q3 revenue of USD 217 million, up 3% year-on-year and 7% quarter-on-quarter; adjusted EBITDA was USD 42 million (19.3% margin).

  • Group revenue and other income for Q3 was NOK 130 million, up from NOK 99 million in Q3 2024; group EBITDA was NOK 27 million.

  • AKOFS Offshore Q3 revenue was USD 28 million, EBITDA USD 3 million, impacted by a 45-day vessel yard stay.

  • DDW Offshore achieved revenues of NOK 128 million and EBITDA of NOK 43 million, both up year-over-year.

  • Net capital employed decreased by NOK 0.2 billion to NOK 4.4 billion, mainly due to Odfjell Drilling sale and AKOFS losses.

Outlook and guidance

  • Cautious short-term outlook for offshore drilling, but signs of a new upcycle in 2026–2027; HMH expects market tightening and improved backlog approaching 2026.

  • Strategic focus remains on strengthening margins, operational efficiency, and enabling liquidity through potential listings and divestments.

  • NES Fircroft continues solid performance and is IPO-ready, with all exit options considered.

  • Future shareholder distributions will be tied to asset realizations to maintain financial flexibility.

  • AKOFS Santos' new Petrobras contract provides long-term revenue visibility starting 2027.

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Frequently asked questions

Akastor is an investment company focused on industrial and oilfield services. The company owns and operates businesses in drilling systems, subsea technologies, and engineering services, primarily serving the global oil and gas industry. It manages its portfolio with a focus on value creation and strategic partnerships. The company is headquartered in Lysaker, Norway, and its shares are listed on the OSE.

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