Awilco Drilling PLC: Awilco Drilling Reports Q4 2018 results

Awilco Drilling PLC reported contract revenue of USD 10.2 million (USD 3.2 million in Q3), EBITDA USD 4.6 million (USD 6.5 million loss in Q3) and net loss of USD 24.2 million after an impairment charge of USD 25 million (USD 10.2 million loss in Q3).

Revenue efficiency was 95.3% during the quarter (90.9% in Q3).

Contract utilisation was 50% during the quarter (12.8% in Q3).

Contract backlog at the end of Q4 was approximately USD 30.7 million (approximately USD 41.4 million end of Q3).

Please see attached for the Q4 2018 report.

A quarterly presentation will be held on 13 February 2019 at 10:30 CET in Awilhelmsen’s offices at Beddingen 8, Aker Brygge, Oslo, Norway.

A conference call will be held on 13 February 2019 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:
http://members.meetingzone.com/selfregistration/registration.aspx?booking=XPgBQo4UgtdXjmkW5V7E7fbKQhc3lORjuAj35ERD2Wg=
Once registered, you will receive an email with dial-in numbers and pins.

Aberdeen, 13 February 2019

For further information please contact:

Jon Oliver Bryce, CEO
Phone: +44 1224 737900

Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
Email: [email protected]

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachment