STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
THIRD QUARTER SUMMARY
- Group revenue totalled SEK 293 million (525).
- EBITDA** was SEK 64 million (292).
- Profit before tax* was SEK 10 million (64).
- Proceeds of SEK 810 million after transaction costs were received through the completed rights issue.
- Through the rights issue Gunvor Group increased its ownership to 49.96%.
- New bonds of SEK 750 million were issued, and the previous SEK 850 million bond loan was repaid in the beginning of October.
- Mark McAllister was appointed President and CEO.
FINANCIAL KEY RATIOS
| Q3 2013 | Q3 2012 | Jan.-Sept. 2013 | Jan.-Sept. 2012 | Jan.-Dec. 2012 | |||||||||||||||||||
| Revenue (SEK million) | 293 | 525 | 1,070 | 1,717 | 2,184 | ||||||||||||||||||
| EBITDA (SEK million)** | 64 | 292 | 447 | 990 | 1,255 | ||||||||||||||||||
| EBITDA margin** | 21.9 | 55.7% | 41.8 | 57.6% | 57.5% | ||||||||||||||||||
| Operating profit (SEK million) * | 35 | 151 | 284 | 512 | 684 | ||||||||||||||||||
| Operating margin * | 11.9% | 28.8% | 26.5% | 29.8% | 31.3% | ||||||||||||||||||
| Profit before tax (SEK million) * | 10 | 64 | 141 | 107 | 85 | ||||||||||||||||||
| Profit for the period | -501 | -1,385 | -817 | -1,626 | -1,966 | ||||||||||||||||||
| Earnings per share after dilution (SEK) | -8.53 | -925.44 | -22.93 | -1,086.45 | -1,006.22 |
* The figures for the third quarter and first nine months 2013 are exclusive of non-cash, one-off costs of SEK 469 million and SEK 1,138 million before tax, and SEK 469 million and SEK 792 million after tax, respectively. The figures for the third quarter and first nine months 2012 are exclusive of non-cash, one-off costs of SEK 1,495 million and SEK 1,585 million before tax, and SEK 1,370 million and SEK 1,460 million after tax, respectively. Figures for the full year 2012 are exclusive of non-cash, one-off costs of SEK 1,748 million before and after tax.
** EBITDA and the EBITDA margin are exclusive of non-cash, one-off costs of SEK 469 million for the third quarter of 2013, and SEK 931 million for the first nine months of 2013.
For the complete Interim Report, see attached file.
Webcast conference call
PA Resources' results for the third quarter 2013 will be presented on 23 October 2013 at 10 a.m. (CET) via a webcasted conference call. Use the following link to participate:
http://storm.zoomvisionmamato.com/player/paresources/objects/pb6rdvqy/
To participate via phone, please call:
SE: +46 8 505 564 74
UK:
+44 203 364 5374
US: +1 855 753 2230
Stockholm, 23 October 2013
PA Resource AB (publ)
PA Resources AB (publ) conducts exploration, development and production of oil and gas assets. The Group operates in Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United Kingdom, Denmark, Netherlands and Germany. PA Resources is producing oil in West Africa and North Africa. The parent company is located in Stockholm, Sweden. PA Resources’ net sales amounted to SEK 2,184 million in 2012. The share is listed on the NASDAQ OMX in Stockholm, Sweden. For additional information, please visit www.paresources.se.
The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 7.45 a.m. CET on 23 October, 2013.
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