7 May 2026 - ABL Group's 2026 first quarter results
HIGHLIGHTS Q1 2026
o Revenues of USD 82.4 million (Q4 25: USD 88.7 million)
o Operating profit of USD 1.6 million (Q4 25: USD 4.2 million operating loss)
o Adjusted EBIT of USD 3.1 million (Q4 25: USD 3.2 million)
o Net debt of USD 12.0 million (Q4 25: USD 5.4 million)
o Proposed semi-annual dividend of NOK 0.45 per share in H1 2026 upheld
Hege Norheim, CEO of ABL Group ASA ("ABL Group" or the "Company") commented:
"ABL Group is on track in building the platform for our 20% ROCE target in 2027.
Our first quarter results reflect continued execution of restructuring and
efficiency measures, alongside investments in new technologies and processes.
While market uncertainty continues to impact timing of client decisions, we
remain confident in the medium-term outlook and expect improved performance
through 2026 as efficiency measures take effect.
Revenue in Q1 was USD 82.4 million, stable year-on-year but down from the
previous quarter, primarily due to seasonally lower activity in North Sea Marine
Operations in AGR. We expect improved performance through 2026, supported by new
contract awards the addition of a third vessel to the fleet.
Adjusted EBIT was stable at USD 3.1 million, with a margin of 3.7%, supported by
early benefits from cost reductions. The ABL segment delivered strong
performance, including in the Middle East region despite a challenging
environment, but the slow activity in the AGR segment and delayed commencement
of Longitude projects held back overall results.
Net debt increased to USD 12.0 million, reflecting expected cash outflows from
restructuring provisions and seasonal working capital movements, as well as an
interruption to cash collection in the Middle East.
The Board has proposed to rename the parent company to Aqualis ASA to reduce
brand complexity and support greater commercial focus at segment level. In
addition, the Company is seeking authorisation to explore a potential re-listing
to Euronext Growth Oslo, subject to regulatory developments and approval."
A presentation of the quarterly results will be held today at 08:30 CET at
SpareBank 1 Markets' office at Olav Vs gate 5, 0161 Oslo. The event will be
webcast live and available for replay shortly after. To watch the webcast,
please visit ABL Group's website, www.abl-group.com.
The quarterly earnings release and a corresponding slide presentation is
available on www.newsweb.no and on ABL Group's web site, www.abl-group.com.
ENDS
For further information, please contact:
Investors and financial media:
Stuart Jackson, Chief Financial Officer, ABL Group ASA
Email: stuart.jackson@abl-group.com
Other media enquiries:
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
About ABL Group
ABL Group (OSE: ABL Group ASA - ticker code "ABL") is a leading independent
global consultancy delivering energy, marine, engineering and digital solutions
to drive safety and sustainability in renewables, maritime and oil and gas
sectors. The group has offices in 43 countries worldwide and operates under four
main brands: ABL, OWC, Longitude and AGR.