7 May 2025 – ABL Group’s 2025 first quarter results
HIGHLIGHTS Q1 2025
• Revenues of USD 81.7 million (Q1 24: USD 68.9 million)
• Operating profit of USD 1.8 million (Q1 24: USD 3.4 million)
• Adjusted EBIT of USD 3.1 million (Q1 24: USD 3.7 million)
• Net cash of USD 3.5 million (Q4 24: USD 4.8 million)
• Proposed semi-annual dividend of NOK 0.45 per share in H1 2025 upheld
• Acquisition of Techconsult announced, to be consolidated from Q2
Reuben Segal, CEO of ABL Group ASA (“ABL Group” or the “Company”) commented:
“Headwinds in the renewable energy market have been joined by geopolitical uncertainty which combine to delay decision-making in more traditional sectors. However, despite more challenging markets, our actions in late 2024 have allowed us to maintain profitability levels.
Revenue growth compared to the same period last year was exclusively driven by the acquisitions of Ross Offshore and Proper Marine, partially offset by lower ABL revenues. The consolidation of Ross Offshore, a structurally lower margin business, makes more recent comparisons more relevant and we have seen a small increase in margins since Q4 2024.
Client decision making is inevitably impacted by a more uncertain backdrop, exacerbated in the past quarter, and so our outlook remains mixed. In the oil and gas market, we now anticipate a largely flat market in 2025, with some regional demand shifts. Our maritime market remains relatively stable and strong tendering performance in the global renewables markets provides some indication of revived confidence in a market that has struggled for 2 years now. ABL Group remains well placed in all markets with a strong delivery platform and leading reputation with clients.”
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 report 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 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.