Akastor ASA (0IPT) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to the presentation of Akastor's third quarter results. My name is Eivind Polske, CFO, and I'm joined today by our CEO, Mr Karl-Erik Kjellstad. We are also pleased to have HMH with us from Houston, represented today by Eirik Bergsvik, CEO, and David Bratton, SVP Finance. As usual, Calle will begin with some key highlights, followed by Eirik and team who will present the HMH update. I will then take you through Akastor's consolidated financials before handing it back to Calle. Toward the end, we'll open for questions through the web-based Q&A solution where you can post questions at any time. With that, I'll turn it over to Calle. Thank you, Eivind, and good afternoon and good morning to our US participants, and thank you so much for joining us for this earnings call. Let us start on slide two with the key highlights for the third quarter. Acosto continues to be in a solid financial state. We have a positive net cash position and no draw on our corporate RCF. With this, we are very pleased to announce another cash distribution to our shareholders, this time NOK 0.4 per share, supported by the realization of our holding in Oddfed Drilling. This is aligned with our strategy to return excess capital to shareholders while maintaining a sound capital structure. Turning to HMH, the company continues to deliver robust financial performance and demonstrate resilience, even in the challenging offshore drilling market. Despite headwinds affecting service activity and spare part sales, HMH achieved a adjusted EBITDA of US$42 million, a solid quarter with a margin of 19%. Importantly, the company also delivered a strong cash flow, underscoring the quality of its operation and its ability to generate value also in a demanding environment. The value of ou...