Akastor ASA Half Year Report 2026
Akastor ASA: Second Quarter and Half Year Results 2026
Second Quarter Highlights
- Fifth consecutive quarterly dividend of NOK 0.50 per share approved, payable during the third quarter. This comes in addition to the NOK 1.50 per share distribution paid in Q2, reflecting proceeds received from the HMH IPO.
- HMH completed its IPO in April 2026, generating cash proceeds of approximately USD 53 million to Akastor and reducing ownership from 50% to 36.3%.
- HMH reported adjusted EBITDA of USD 34 million in the quarter, corresponding to a margin of 20%, while order intake of USD 205 million resulted in a book-to-bill ratio of 1.2x and supported improved activity expectations for the second half of 2026.
- DDW Offshore completed the sale of Skandi Emerald for gross proceeds of approximately USD 23 million, contributing to a strengthened liquidity position and supporting shareholder distributions.
- In July, NES Fircroft successfully placed a new USD 650 million senior secured bond, supporting refinancing and a planned shareholder recapitalisation. Akastor expects to receive its share of cash proceeds available to shareholders through the recapitalisation, subject to remaining conditions and approvals.
- Net Asset Value, including a fair value adjustment for HMH based on its quarter-end share price, amounted to NOK 4.7 billion as of June 30, 2026, corresponding to NOK 17.3 per share.
Akastor CEO Karl Erik Kjelstad comments:
"The second quarter marks another important step in Akastor’s transition from value creation to value realization. Following the successful HMH IPO and the sale of Skandi Emerald, we have further strengthened our liquidity position and approved our fifth consecutive quarterly dividend. HMH has entered the public markets with good momentum, delivering solid profitability, strong order intake and improving visibility into the second half of 2026. We also saw important strategic progress in NES Fircroft through the completion of the acquisition of Halian and the subsequent refinancing of the company. Together, these developments demonstrate continued execution of our strategy and support our ambition to create and return value to shareholders over time.”
The second quarter presentation and half year report are attached to this release and also available at www.akastor.com.
Media Contact
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com
Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Jing Li Taklo, Head of Financial Reporting, Akastor ASA, on August 21, 2026, at 07:00 CET.