Spectrum ASA: Q4 2016 Financial Update Oslo, N
Post# of 301275
Oslo, Norway, January 9(th) 2017. Based on preliminary figures for Q4 2017, Management expects to report Net Revenues of approximately USD 31million for the quarter (USD 42 million in Q4 2015). In addition Spectrum will recognize 2016 tax credits in Brazil as "other revenue" in Q4 2016. The basis for this "other revenue" recognition is the same as the "other revenue" Spectrum booked in Q3 2016 for the period 2011-1015. These tax credits will be used to partially offset Spectrum's tax payments in Brazil going forward.
In addition, Spectrum has obtained a waiver for the NIBD/EBITDA - MC capex covenant for Q4 2016.
For further information, please contact: Henning Olset, CFO Mobile: +47 92 26 69 48 E-mail: henning.olset@spectrumasa.com Rune Eng, CEO Mobile: +47 91 57 08 45 E-mail: rune.eng@spectrumasa.com This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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