21 August 2025 – Endúr ASA (Endúr) delivered strong revenue growth and positive margin development in this year’s second quarter. Revenue was up 12 percent, to NOK 1,690.7 million, from the same period last year (Q2 2024: 1,511.4). An all-tme high EBITA improved 23 percent to NOK 101.2 million (82.4), equivalent to a margin of 6 percent (5.4).
“Our revenue growth and margin improvement are primarily driven by strong performance in our Infrastructure segment, but it has been a solid quarter overall. The exception is our Swedish infrastructure business, where we are taking organizational measures to address unsatisfactory results,” says Jeppe Raaholt, CEO of Endúr.
Endúr recorded an order intake of NOK 1,396 million in the quarter (1,556) as the group won multiple new infrastructure project awards of various sizes. Endúr’s order backlog was NOK 9,251 million (3,031) at the end of the quarter.
“Our subsidiaries are winning a very diverse range of infrastructure projects. This underlines their versatility and competitiveness, including in non-cyclical sectors such as publicly owned buildings, harbour infrastructure and railways,” adds Jeppe Raaholt.
Cash flow from operating activities was NOK 105.6 million in the second quarter (83.2). Endúr has a healthy balance sheet with cash at bank of NOK 866 million and a non-utilized overdraft facility of NOK 250 million, giving NOK 1,116 million in total available liquidity.
BUSINESS SEGMENT UPDATE
Endúr is a leading full-service provider for Aquaculture Solutions and Infrastructure in Norway and Sweden, servicing both public and private sector.
Endúr’s Infrastructure segment increased revenue by 16 percent, from 1,202.8 million in the second quarter last year to NOK 1,394.6 million in this year’s second quarter. EBITA was NOK 100.6 million, up 25 percent from the same period last year (80.3). The segment’s order backlog rose to NOK 7,752 million as a result of a strong order intake of NOK 1,320 million (467) during the quarter.
Revenue in the Aquaculture Solutions segment was NOK 238.4 million (237.7), which represents significant growth from the previous quarters as activity level at Salmon Evolution phase 2 is ramping up. Segment EBITA ended at NOK 6.4 million (4.4), equivalent to an EBITA-margin of 2.7 percent (1.8).
In the business segment “Other”, Endúr Maritime delivered revenue of NOK 59.6 million (71.5), EBITA of NOK 2.4 million (4.7), corresponding to an EBITA margin of 4.1 percent (6.6).
OUTLOOK
Endúr has a strong backlog in all business segments. The group has high tender activity and many outstanding bids.
Future activity level in the Infrastructure segment is supported by the Norwegian National Transport Plan for 2025-2036 which favors rehabilitation, smaller projects and aquaculture, a number of major infrastructure projects ratified in Sweden, plus increased defence budgets. It is also backed by a favorable local market for real estate construction and a general maintenance gap on critical infrastructure.
Within Aquaculture Solutions, the long-term outlook for land-based fish farming remains attractive as exponential growth is expected from investments in land-based fish farming facilities, supported by the re-opening of license applications announced by Norwegian authorities on July 1 this year.
Recently completed acquisitions will add to the organic growth expected from existing businesses and recruiting to new market niches.
PRESENTATION AT 08:00 TODAY
Endúr ASA invites investors, analysts and media to a live webcast presentation of the company’s second quarter and half-year 2025 financial results at 08:00 today.
The webcast presentation can be viewed from the following URL:
https://channel.royalcast.com/landingpage/hegnarmedia/20250821_9/
Questions can be submitted during the live webcast. The presentation material and half-year 2025 report is enclosed to this announcement.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Einar Olsen, CFO of Endúr ASA, on 21 August 2025 at 07:00 CET.
(ENDS)
For further information, please contact:
Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759
Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787
About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance projects and services for infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialized concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialized project and marine services. Endúr ASA is headquartered at Lysaker, Norway. See www.endur.no.