5 April 2024: Eqva ASA (OSE: EQVA) has seen a strong start of the year for its
Products, Solutions & Renewables segment, with extraordinary strong demand and
growth in sales.
Preliminary figures for the first quarter 2024 show operating revenue for this
segment alone exceeding NOK 190 million, an increase of 35 per cent compared to
the corresponding period in 2023. The EBITDA margin is expected to be in the
higher range of the previously communicated targets of 5 to 7 per cent.
The company expects this trend to continue and remains optimistic for the
current year and the future.
Further details will be shared when Eqva presents its final report for the first
quarter 2024 on 16 May 2024.
M&A update
Eqva has been unable to conclude an agreement with LOS Gruppen (see announcement
of letter of intent on 6 December 2023) on terms favourable for Eqva
shareholders. The dialogue between the parties about a potential business
combination is on hold until further notice.
Other M&A activities are showing good progress.
For more information, please contact:
Erik Høyvik, Chief Executive Officer: +47 916 83 173
Petter Sørdahl, Chief Financial Officer: +47 917 56 147
Even Matre Ellingsen, Chairman of the Board: + 47 990 05 500
Eqva ASA in brief
Eqva ASA is a knowledge-based active owner of engineering, construction and
service companies that contribute to the green transition in maritime, power
intensive and renewable industries.
The group has a well-diversified product and market portfolio, and further
growth will be established through a combination of company-based development,
utilization of synergies between the companies in the group as well as
value-creating M&A activities.
Key companies in the group are BKS and Fossberg Kraft, each building on decades
of experience and widely recognized by clients in a broad range of industries.
Read more on www.eqva.no.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.