Archer today releases the fourth quarter and preliminary full-year 2023 financial report and reports positive net income of
Some highlights from the financial report:
- Revenue of
$305 million and adjusted EBITDA of$33.4 million in Q4 2023, a year-on-year increase of 15% and 14%, respectively. - EBITDA grew by 36% in 2023, exceeding upper range of full-year guidance.
- Reduced leverage ratio to 2.9 at year-end 2023.
-
Positive net income for the quarter of
$8.5 million
Q4 2023 RESULTS
Archer delivered revenue of
FULL-YEAR 2023 RESULTS
Archer's full-year 2023 revenue was of
Outlook 2024
Archer estimates 15-20% EBITDA growth in 2024 as well as further reduction of leverage ratio to between 2.4 and 2.7 at year-end 2024.
"As outlined in our trading update, the market outlook for our operating divisions remains positive, and we are well positioned to capitalize on this growth. Deleveraging Archer will remain a key focus in order to create additional financial flexibility and shareholder value for Archer in the coming years," concludes Dag Skindlo, CEO of Archer.
For additional information please contact:
Joachim Houeland, Manager Treasury & Investor Relations | Mobile: +47 482 78 748 | Email: joachim.houeland@archerwell.com
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--36--ebitda-growth-in-2023-and-positive-net-income-in-the-quarter,c3937947
https://mb.cision.com/Public/17569/3937947/a925b84f44a48a27.pdf
https://mb.cision.com/Public/17569/3937947/a2a721c269b0cb5e.pdf
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