Brief: SD Standard Drilling Q4 Operating Result Swings To Loss Of USD 1.6 Mln

SD Standard Etc

13/02/2020 06:20

Feb 13 (Reuters) - SD Standard Drilling PLC  SDSD.OL :
    * REPORTED AN OPERATING LOSS OF USD 1.6 MILLION IN Q4 OF
2019 (Q4
2018: PROFIT USD 1.5 MILLION)
    * TOTAL CASH BALANCE WAS USD 58.2 MILLION AT END OF Q4
    * " OPERATING RESULT FROM PSV FLEET IN Q4 WAS SOMEWHAT
DISAPPOINTING DUE TO A WEAK WINTER MARKET, BUT OUR FULL YEAR
RESULTS FOR 2019 SHOW THAT MARKET IS HEADING IN RIGHT DIRECTION"
CHAIRMAN
    * FROM OPERATING PSVS GROUP HAD AN UNDERLYING NEGATIVE
ADJUSTED
EBITDA IN Q4 2019 OF USD 0.5 MILLION (Q4 2018 USD 0.3 MILLION)
    * UTILIZATION OF LARGE-SIZED PSV'S WAS 82% IN Q4 (Q4 2018
90%)

Source text for Eikon:  ID:nObiGD8Bza 
Further company coverage:  SDSD.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))