Archer will today host an analyst call where we will share our preliminary financials for Q4 2020 and our outlook for 2021.
Trading update Q4 2020
Based on preliminary unaudited financials,
· Revenue of
· EBITDA reported of
· EBITDA before exceptional items of
· Net interest bearing debt of
· Robust liquidity of
Dag Skindlo, CEO of Archer, comments:
"Archer had a strong finish of the year and we are satisfied with the performance of the team during the covid-19 pandemic. In addition to solid operational performance, we have maintained our strong market position as well as increased our service offering.
We can be proud of Archer's financial resilience demonstrated by delivering positive free cash flow over five consecutive years, despite the challenging markets. In 2020, we reduced our net interest-bearing debt by
Our main ESG agenda is to develop services and technologies that are supporting our clients with their net zero emission target, as well as developing our own service offerings towards the green economy."
Financial outlook 2021
Market analysts expect overall market expenditures in 2021 to be in line with 2020, while Archer expects improved financial performance in 2021 on the back of a strong backlog and market position:
· Revenues for 2021 expected to increase moderately from run-rate second half 2020
· EBITDA for 2021 expected 10-20% higher than 2020
· Capex between 3-4% of revenue
· Positive free cash flow
· Continued reduction in NIBD
Q4 2020 and preliminary 2020 results are scheduled to be released on
More information can be found in the attached presentation to be shared with the analysts, which can also be downloaded from https://www.archerwell.com/investor-relations/presentations/
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
https://news.cision.com/archer-limited/r/archer-limited--q4-2020-trading-update-and-2021-financial-outlook,c3275274
https://mb.cision.com/Main/17569/3275274/1364531.pdf
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