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Akastor (AKAST) investor relations material
Akastor Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Approved a NOK 0.40 per share cash dividend, marking the third consecutive quarterly payout and reflecting a commitment to returning excess capital to shareholders, supported by the sale of Skandi Atlantic.
Maintained a solid financial position with a positive net cash position, no draw on corporate RCF, and robust cash generation across portfolio companies.
HMH delivered strong financial performance with USD 58 million adjusted EBITDA (28% margin) and USD 66 million free cash flow, driven by cost efficiencies and inventory optimization.
AKOFS Offshore secured a new four-year contract with Petrobras, Aker Wayfarer was nominated for a similar contract, and high vessel utilization was achieved.
DDW Offshore completed refinancing, sold Skandi Atlantic for USD 22.75 million above book value, and reported strong operational performance.
Financial highlights
HMH reported USD 206 million in revenue for 4Q 2025, with adjusted EBITDA of USD 58 million (28% margin), up 23% year-on-year and 39% quarter-on-quarter.
Free cash flow for HMH was USD 66 million in 4Q 2025, with FY2025 free cash flow at USD 106 million.
DDW Offshore delivered revenues of NOK 105 million and EBITDA of NOK 18 million for the quarter.
Group equity ratio was 89% at year-end 2025, with net capital employed at NOK 5,335 million.
Liquidity reserve stood at NOK 621 million, including NOK 276 million in a liquidity fund investment.
Outlook and guidance
Market recovery in offshore drilling is expected mid-2026, with increasing backlog for drillers and operational outperformance despite a soft 2025.
HMH maintains IPO readiness, with S-1 filing updated; timing depends on market conditions.
NES Fircroft is exit-ready, with alternatives being explored for a sale or listing.
AKOFS contracts provide long-term earnings visibility, but cash flow is limited until late 2027 due to CapEx and lease payments.
Portfolio strengthened by contract wins and refinancing, supporting long-term value creation ambitions.
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