ARCHER 1 til 2 kr Pareto Securi. bull

Star
ARCHER 29.01.2024 kl 09:50 2910

Pareto Securities höjer riktkursen för Archer till 1,75 norska kronor (1,50), upprepar köp
29.1.2024 06:06 • Finwire •
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Pareto Securities höjer riktkursen för Archer till 1,75 norska kronor (1,50), upprepar köp

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Redigert 31.01.2024 kl 14:35 Du må logge inn for å svare
Star
29.01.2024 kl 10:06 2859

skal opp 100%
Star
29.01.2024 kl 10:07 2854

Drilling and well services provider Archer today provides a trading update for the fourth quarter and full-year 2023, and financial outlook for 2024. Some highlights from the trading update:

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.
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.
"We delivered 36% EBITDA growth in 2023 due to increased activity across all divisions. We believe the market fundamentals for our services will continue to improve and we therefore forecast EBITDA growth of 15-20%, and a further material reduction in leverage ratio in 2024" says Dag Skindlo, CEO of Archer.

Q4 2023 RESULTS

Archer delivered revenue of $305 million in the fourth quarter 2023, up 15% from the same quarter last year ($264m). Adjusted EBITDA increased 14% to a record high $33.4 million ($29m), while EBITDA was $31 million ($27m). EBIT in the fourth quarter was $16.9 million ($13m), equivalent to an EBIT-margin of 5.5% (4.9%).

FULL-YEAR 2023 RESULTS

Archer's full-year 2023 revenue was of $1,169 million, an increase of 20% from 2022 ($970m). EBITDA was $116.8 million, up 36% year-on-year ($86m). EBIT was $64.7 million, an increase of 121% from 2022 ($29.3m).

Strong growth and operational cash flow for 2023, as well as the refinancing in the first half of the year, has reduced Archer's leverage ratio to 2.9 (5.3) at year-end. Archer's order backlog stands at $1.7 billion, providing good visibility for 2024 and beyond.

"We exceeded the upper range of our financial guidance for 2023. This demonstrates that our strategy is paying off and that our key markets support continued growth," adds Dag Skindlo.

Archer will present its complete fourth quarter and full-year 2023 financial results on 29 February 2024.

HSE PERFORMANCE

Archer remains committed to deliver best in class on health, safety, and environment in its operations.

"I want to thank all our employees for their dedication to deliver according to these standards. We can as a team of 4,800 employees be proud that we had zero High Potential Incidents in 2023," says Skindlo.

MARKET OUTLOOK

Archer consists of three operating division: Well Services, Platform Operations, and Land Drilling.

Archer's Well Services division delivered an impressive 57% EBITDA growth in 2023, of which approximately 40% was organic. The division has delivered an organic CAGR of 26% from 2017 to 2023. The company expects continued strong EBITDA growth from Well Services in 2024.

Within Platform Operations, Archer sees a high demand for P&A and decommissioning services. The strongest activity and near-term increase in the well decom market is in the UK, where operators will spend an estimated $26 billion towards 2040, while global offshore P&A market is expected to grow more than 100% in the next 10 years. The brownfield and decom market, which Archer is primarily exposed to, is less impacted by fluctuations in the oil price. Platform Operation expects slightly lower activity in 2024 as one of the modular drilling rigs is idle while being upgraded and recertified for operation on Fulmar.

The Land Drilling division delivered solid operational and financial results in 2023. The newly announced Pan American Energy contracts and increased activity underpins expected EBITDA growth of 15-20% in 2024. Archer considers the political signals in Argentina as positive regarding opening up the economy and investments into oil and gas.

FINANCIAL OUTLOOK FOR 2024

In total, Archer expects an EBITDA growth of 15-20% in 2024.

The company expects to reduce its leverage ratio from 2.9 at the beginning of the year to between 2.4 and 2.7 at year-end 2024.

Archer expects capital expenditure of 4-5% of revenue during 2024. This is somewhat above historic level to support growth and the recertification and upgrade of the Emerald modular drilling rig for operation in 2025.

"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 for Archer in the coming years," Dag Skindlo concludes.

CONFERENCE CALL TODAY AT 09:00 CET

Archer will host a conference call at 9:00 am CET on January 26, 2024. To follow the presentation, the following options are available:

A. Webcast

To register for the webcast please go to https://events.q4inc.com/attendee/709073976

B. Conference call

To access the call, which is open to the public, please dial in at the participant telephone numbers listed below. Please call in 10 minutes prior to the scheduled start time, and ask for the "Archer Q4 2023 Trading Update and 2024 Outlook Presentation".

Participants dial-in:

United Kingdom +44 20 3936 2999

United States +1 646 787 9445

Germany +49 32 221098334

Norway: +47 815 03 308
Star
29.01.2024 kl 10:19 2811

1kr passeres snart
Star
29.01.2024 kl 10:22 2796

inntjeningen stiger en reprising av Archer pågår.

2-6kr
Marketwatch
29.01.2024 kl 10:35 2738

Selskapet burde selvsagt hatt en langt høyere kurs, men markedet har ihvertfall inntil nå, hatt vanskelig for å glemme den fatale emisjonen som ble gjennomført. Kanskje en ny vår er på trappene?
Star
29.01.2024 kl 10:53 2682

97øre nå
Star
29.01.2024 kl 12:25 2542

Meglerhus sier at den skal opp 100% kurs 2kr
Star
29.01.2024 kl 14:08 2359

Verdi er basert på Q den neste Q blir bra.

Verdi ca 2kr
Star
31.01.2024 kl 14:26 1947

på tide å få en rask dobbling
Rakettrally
31.01.2024 kl 14:40 1898

Det fylles på. Håper at vi kan ta farvel til bunnen. Skindlo har mye å bevise og nå har han begynt å ta tak
Star
31.01.2024 kl 14:43 1879

penger på gata uten risk. opp 90-140%

Star
31.01.2024 kl 14:51 1854

kan fort se 1,8kr snart.
oryx
12.03.2024 kl 10:11 1216

Carnegie har kommet med kursmål 2 kroner i ARCHER. Mener også å ha sett et ferskt kursmål på 3,4 kroner, skal prøve å finne hvem det evt er fra.

Dette er en diamant av en Fredriksen-aksje som man skal kjøpe og holde. Selger ARCHER på 3 - 4 kroner før sommeren.

Ser at det ligger noe volum opp mot 1,20 kroner. Når 1,20 passeres er det kun småtterier av volum til salgs. Da kan proppen forsvinne og det kan gå fort opp mot 1,30 - 1,40 kroner. Da kommer ARCHER høyt opp på vinnerlisten og mange investorer vil da kjøpe aksjen, noe som igjen forsterker oppgangen. Kjøp og hold er det som gjelder i ARCHER nå.
Redigert 12.03.2024 kl 10:26 Du må logge inn for å svare
InnerTier
12.03.2024 kl 14:16 1036

De klassiske TTT
0,90 støtte
1,08 er det dobbelbunn, - som sef kan ryke...
1,39 har tidsperspektiv ett år.
2,00 to år
3,50 motstand
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Langsiktighet er en dyd av absolutt nødvendighet, samt at opphold ved taktisk, teknisk og fundamental anledning er et vesentlig viktig virkemiddel.
InnerTier
12.03.2024 kl 17:58 890

Archer Limited: Archer secures additional platform drilling contract in Brazil with an initial estimated value of USD$20 million

https://www.archerwell.com/archer-limited-archer-secures-additional-platform-drilling-contract-in-brazil-with-an-initial-estimated-value-of-usd20-million/
sveipen
12.03.2024 kl 18:23 831

Ser endelig ut som det løsner i denne aksjen nå. Tipper vi passerer 1,50 før sommerferien, så her er det mye å gå på enda.
Sterkt kjøp.