NADL - North Atlantic Drilling Ltd. reports second quarter 2015 results - Seite 2

Balance sheet as at June 30, 2015

As at June 30, 2015, total assets decreased to $3,484.8 million from $3,528.7 million compared to the previous quarter.

Total non-current assets decreased to $3,145.2 million from $3,187.6 million compared to the previous quarter. The decrease was mainly due to depreciation on drilling units.

Total current liabilities decreased to $491.6 million from $526.2 million compared to the previous quarter. The decrease is largely due to the fall in derivative mark to market liabilities.  For further information please see Note 18 to our consolidated financial statements. 

Long-term interest bearing debt, including related party debt, decreased to $2,347.7 million from $2,395.2 million during the quarter. Net interest bearing debt decreased to $2,415.1 million from $2,457.9 million during the quarter. During the second quarter the Company repaid net $42 million on the $2 billion credit facility and repaid net $12 million on the $475 million credit facility. As at June 30, 2015, the Company had undrawn amounts of $50 million available on its credit facilities.

Total equity decreased increased to $515.7 million from $458.5 million compared to the previous quarter. The increase is primarily due to the net income for the quarter, and by other comprehensive income related to unrealized actuarial pension adjustments.

Cash flow

As at June 30, 2015, cash and cash equivalents decreased to $134.5 million from $138.8 million compared to the previous quarter.

For the six-month period ending June 30, 2015, net cash provided by operating activities was $197.8 million, net cash used in investing activities amounted to $21.0 million, and net cash used in financing activities was $157.1 million.

Questions should be directed to North Atlantic Management AS represented by:

Scott McReaken: Chief Financial Officer

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

NADL Q2 2015 Report
NADL Q2 2015 Fleet status

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Source: North Atlantic Drilling Ltd. via Globenewswire

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