ABL Group ASA

2 April 2025

For further information, please contact:

Investors and financial media

Stuart Jackson, CFO, ABL Group ASA
Telephone: +971 4 3793612

Other media enquiries

Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no

About ABL Group ASA

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 & gas sectors. The group has offices in 39 countries worldwide and operates under four brands: ABL, OWC, Longitude and AGR.

ABL Group ASA: Acquisition of Techconsult completed

ABL Group has successfully completed the acquisition of 100 percent of the shares of Norway-based engineering and technical resourcing consultancy Techconsult, thereby creating one of the largest technical staffing providers in Norway and the North Sea.

Please refer to the stock exchange announcement dated 12 February 2025 for further details about Techconsult and the transaction.

Techconsult will now join ABL Group’s energy and software consultancy branch AGR and merge with its existing resource consultancy.

17 March 2025

ABL Group expands Baltic Sea operations with new branch in Gdańsk

ABL Group, the global energy, marine and engineering consultancy group, strengthens its operations in the Baltic Sea and Poland with the opening of a new branch in Gdańsk, Poland.

The strategic expansion reinforces ABL Group’s commitment to supporting Poland’s marine and energy sectors, as well as enhancing local capacity to support the wider Baltic Sea region.

This in-country expansion builds on ABL Group’s established presence in Warsaw through its renewable energy consultancy arm, OWC. It also adds to the group’s regional operations in Denmark and Hamburg, Germany.

The new office in Gdańsk will act as a hub for delivering a wide range of expert services spanning marine, energy, engineering and software. It will offer a platform in particular, for the group’s offering in advisory services, ports and harbours consulting, design and engineering, marine assurance and risk, marine warranty survey and asset integrity management.

Poland is poised to become a major player in offshore wind, with ambitious targets and a growing pipeline of projects. ABL Group, via its energy and marine consultancy ABL and renewable energy consultancy OWC, has been actively involved in Poland and the wider Baltic Sea’s offshore mid-stream and renewable energy development, providing technical and advisory services to developers and investors.

The new office address is: Gdański Inkubator Przedsiębiorczości STARTER (lokal nr 4.25.1), ul. Lęborska 3b, 80-386 Gdańsk, Poland.

ABL Group in Poland

ABL Group has an established presence in the Polish market, via its renewable energy consultancy, OWC, which is present in Warsaw, as well as in the Baltic Sea via our office in Hamburg, Germany. Here is a selection of recent news relating to ABL Group in the Baltic Sea:

ABL drafted to support Baltica 2 Offshore Wind Farm in Poland. Read more here.
ABL to assess navigational risk for Finland’s first open-sea offshore wind farm. Read more here.
OWC Poland featured in the 2024 Global Offshore Wind Report. Read more here.

COntact ABL Group on the Baltic Sea

14 March 2025

RV Ahilan becomes King’s College Visiting Professor in Energy Transition

ABL Group is proud to announce that Dr. RV Ahilan, our Chief Energy Transition Officer, has been appointed as a Visiting Professor in Energy & Power Engineering at King’s College London under the prestigious Royal Academy of Engineering’s Visiting Professors Scheme.

With decades of experience across oil & gas, maritime and renewables, Ahilan will share his industry expertise with engineering students, contributing to curriculum development, mentoring, and the growth of innovative approaches to engineering teaching and learning.

In particular, Ahilan will share his expertise in facilitating and accelerating key energy transition technologies such as electrification, renewable hybridisation, emissions reduction, CCUS and green fuels, while addressing climate change adaptation and resilience.

“The energy transition is a complex challenge that requires both technical expertise and a deep understanding of societal impacts. I look forward to working with the next generation of engineers to shape a secure and sustainable future.”

Dr RV Ahilan, Chief Energy Transition Officer, ABL Group

The Royal Academy of Engineering’s Visiting Professors Scheme invites experienced professionals into UK academia to enhance engineering education, strengthen industry partnerships and improve graduate employability. Through this initiative, Ahilan will help students to bridge the gap between academic learning and the real-world demands of the energy and maritime industries.

At ABL Group, we are committed to the training and development of the next generation of leaders for a sustainable energy and oceans. By fostering collaboration between higher education and the industries that we serve, we are helping to equip young professionals with the skills required to navigate and drive forward our shared climate goals.

Professional training, development and outreach to support students of science, technology, engineering and mathematical (STEM) subjects, are a key element of our corporate social responsibility (CSR) strategy, and aligns with our promise to drive the social sustainability of our energy and oceans.

Find out more on our STEM outreach and how to work with us:

ABL Group CSR and STEM Outreach

26 February 2025

For further information, please contact:

Investors and financial media

Stuart Jackson, CFO, ABL Group ASA
Telephone: +971 4 3793612

Other media enquiries

Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no

About ABL Group ASA

ABL Group ASA: Key information relating to the proposed cash dividend

Dividend Amount: NOK 0.45 per share

Declared currency: NOK

Last day, including right: 28 May 2025

Ex-date: 30 May 2025

Record date: 2 June 2025

Payment date: On or about 16 June 2025

Date of approval: 28 May 2025

Other information: Special cash dividend, repayment of paid-in capital

The dividend payment is conditioned upon approval by the Annual General Meeting to be held on 28 May 2025.

This information is published in accordance with the requirements of the Continuing Obligations.

26 February 2025

For further information, please contact:

Investors and financial media

Stuart Jackson, CFO, ABL Group ASA
Telephone: +971 4 3793612

Other media enquiries

Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no

About ABL Group ASA

ABL Group ASA: Q4 2024 financial results

26 February 2025 – ABL Group’s 2024 fourth-quarter results

HIGHLIGHTS Q4 2024

Revenues of USD 85.9 million (Q4 23: USD 67.7 million)
Operating profit of USD 2.4 million (Q4 23: USD 3.9 million)
Adjusted EBIT of USD 3.1 million (Q4 23: USD 4.5 million)
Net cash of USD 4.8 million (Q3 24: USD 7.9 million)
Proposing semi-annual dividend of NOK 0.45 per share in H1 2025

HIGHLIGHTS FULL YEAR 2024

Revenue of USD 309.6 million (2023: USD 251.2 million)
Operating profit of USD 10.4 million (2023: USD 16.5 million)
Adjusted EBIT of USD 12.5 million (2023: USD 18.8 million)
Total dividend of NOK 0.8 per share paid during 2024
Completed acquisition of Ross Offshore and Hidromod

Reuben Segal, CEO of ABL Group ASA (“ABL Group” or the “Company”), commented:

“Four value-adding acquisitions in a little over 6 months shows our commitment to growing a material consultancy business serving Energy and Oceans. Hidromod added a new service line to the ABL segment; Ross Offshore drove revenue growth in the quarter as we re-enforced the offering of our AGR segment and added marine operations capabilities; and post-quarter end Proper Marine and Techconsult extended our primary design and resourcing activities in the Longitude and AGR segments.

From an operating perspective, in Q4 2024, our revenue growth came predominantly from the addition of Ross Offshore, but Longitude achieved very strong activity levels. Margins are lower than the same period last year for a combination of reasons. Ross Offshore is a structurally lower-margin business, with the marine operations activity seeing significant revenues at pass-through rates on the vessel before we achieve higher margins on value-added services. Additionally, the continued slowdown in the offshore wind market, added to a weaker oil & gas quarter, has weighed on OWC and ABL in the quarter. Cost initiatives delivered in the quarter will pull these margins up as we enter 2025.

We remain positive about the outlook and our positioning in our key markets despite the long-term energy transition proving more volatile than many had assumed. Offshore oil & gas and maritime sector activity are expected to remain stable throughout 2025 and our global diversification strategy allows us to neutralise any regional shifts in these markets. In the offshore wind market, geopolitical shifts impact decisions, but we are seeing a higher level of tendering, which is expected to see an improvement in activity levels in the 2nd half of 2025.”

A presentation of the quarterly results will be held today at 08:30 CET at Arctic Securities office at Haakon VIIs 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 are available on www.newsweb.no and on our Reports and Presentations page.

21 February 2025

For further information, please contact:

Investors and financial media

Stuart Jackson, CFO, ABL Group ASA
Telephone: +971 4 3793612

Other media enquiries

Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no

About ABL Group ASA

ABL Group ASA: Invitation to presentation of Q4 2024 results

ABL Group ASA (“ABL Group”) will release its fourth-quarter results on Thursday, 26 February 2025, at approximately 06:00 Central European Time (CET).

A presentation of the quarterly results will be held the same day at 08:30 CET at Arctic Securities office at Haakon VIIs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after.

The webcast can be viewed via our Reports and Presentations page, or directly at https://my.demio.com/ref/XApJ3Tqg3ODv4bGe

If you would like to attend the event in person, please notify Arctic Securities at events@arctic.com.

The earnings release concerning the quarterly results and a corresponding slide presentation will be posted on www.newsweb.no and on our Reports and Presentations page.

13 February 2025

ABL Group Partners with the EIC on its 2025 Net-Zero Agenda

We are pleased to announce that ABL Group has been named the UK Principal Partner for the Energy Industries Council (EIC)‘s net-zero agenda in 2025. As long-standing members of the EIC for over 10 years, we are excited to strengthen this partnership and to drive industry collaboration for the advancement of the global energy transition.

“This partnership brings together a joint commitment to accelerating the energy transition through innovation, collaboration and impactful engagement.”

Kim Stephen, Regional Director for the EIC in the UK

Through this partnership, ABL Group will play a key role in the EIC UK’s event series for 2025, bringing its energy, marine, engineering and advisory expertise to discussions on safety, sustainability, and technology across renewables, maritime, and oil & gas.

Our participation will include event collaborations, principal partnership to the EIC’s North Sea Decarbonisation Conference, and support for the EIC’s annual National Awards Dinner in London.

As well as collaboration on the North Sea Decarbonisation Conference, 23-24 April, as part of the partnership, the Group will co-host and curate with the EIC an exclusive technical event in the UK, focussed on sustainable development in marine and offshore energy segments. Stay tuned for more details to follow!

“Our commitment to the development of key energy transition technologies across energy and oceans lies at the very heart of ABL Group’s purpose. We look forward to contributing to discussions on the next steps needed in marine and energy markets, to help achieve global climate goals.”

RV Ahilan, Chief Energy Transition Officer, ABL Group

ABL Group companies – ABL, AGR, OWC and Longitude – each contribute multidisciplined expertise in renewables, maritime and oil & gas sectors, to provide proven capabilities in the following key decarbonisation areas:

Renewable energy
Electrification
Hydrogen and power to x
Battery energy storage systems (BESS)
Emissions’ consulting
Clean shipping
Carbon capture, utilisation and storage (CCUS) and geothermal
Climate change risk assessment and adaptation

Discover ABL Group’s expertise and track-record in energy transition:

Energy Transition

12 February 2025

AGR reinforces its strong presence in Norway’s technical staffing market through local acquisition

ABL Group has entered into an agreement to acquire 100 percent of the shares of Norway-based engineering and technical staffing consultancy Techconsult.

Upon completion of the transaction, Techconsult will merge with AGR’s existing resourcing business unit, thereby creating one of the largest technical resourcing providers in Norway and the North Sea.

The joint business includes specialist competence to support the oil and gas, maritime and renewable energy industries, including the digitalisation of its operations.

“Both companies’ vision is to be a preferred technical staffing and recruitment provider, and we recognise that together we can create a stronger base to support more clients and expand into new areas. The acquisition also creates wider opportunities for professional development for our consultants and colleagues, including international prospects. I am excited about this next chapter for AGR Consultancy and Techconsult as a joint powerhouse in technical and engineering resourcing.”

Thomas Veseth Saue, General Manager for AGR Consultancy Europe

ABOUT TECHCONSULT

Techconsult was founded in 1999 and is today established with offices in Bergen, Oslo and Stavanger in Norway. The company consists of more than 200 consultants. It also offers clients access to a database of approximately 14,000 technical and engineering professionals.

With its roots in resourcing for the oil and gas industry, Techconsult has successfully diversified into renewable energy, environmental and infrastructure projects, as well as resourcing in computer and IT disciplines, shipbuilding and mechanical industries, plus the process and construction industries.

“With innovation at our core, we have continually developed our offering to support the growing energy transition and renewables sector, with a third of our business in this space, whilst maintaining our strong commitment as a go-to provider for the oil and gas market. Joining AGR Consultancy is the natural next step in Techconsult’s strategy. It represents a synergy of two teams with a shared vision, unlocking opportunity on both sides to continue what we are doing, but with an even stronger platform to deliver to more clients and to develop further together.”

Ronny Meyer, Founder and CEO of Techconsult

STRATEGIC RATIONALE

The acquisition will diversify both companies’ client bases, combining AGR’s strong position with operators with Techconsult’s portfolio that is more driven towards service and engineering companies.

In total, the combined company will more than double the shared database of technical professionals – 26,000 in total – creating a stronger platform to support more clients and in more geographical markets and industry segments.

Additionally, the deal will diversify the markets which AGR serves, whilst also enhancing Techconsult’s potential growth in the renewable energy and offshore wind sector, where it can leverage the wider ABL Group’s extensive project and client network. Further, it will create a consolidated platform to support emerging technical segments like digitalisation, electrification, power and automation industries, among others.

Ronny Meyer will continue to lead the Techconsult recruitment support team following the completion of the merger.

“Availability of top technical competence is key to realising the energy industry’s ambitions. When we acquired AGR, we obtained a reputable competence provider that has a leading position in the energy industry. This strategic acquisition now not only reinforces ABL Group’s robust presence in Norway, but also underscores our commitment to delivering innovative staffing solutions across all our segments.”

Reuben Segal, CEO of ABL Group ASA, parent company to AGR

AGR Consultancy Europe also includes the resourcing expertise and personnel database from Ross Offshore’s consultancy business, integrated into AGR through a previous acquisition.

The transaction, which is subject to approval by the Norwegian competition authority, is expected to be completed in Q2 this year.

Discover in full AGR’s technical and engineering staffing solutions, and find out more about Techconsult:

AGR Consultancy

Techconsult

12 February 2025

For further information, please contact:

Investors and financial media

Stuart Jackson, CFO, ABL Group ASA
Telephone: +971 4 3793612

Other media enquiries

Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no

About ABL Group ASA

ABL Group ASA: Acquisition of Norwegian technical resourcing consultancy

ABL Group has entered into an agreement to acquire 100 percent of the shares of Norway-based engineering and technical staffing consultancy Techconsult, thereby creating one of the largest technical resourcing providers in Norway and the North Sea.

Upon completion of the transaction, Techconsult will merge with AGR – part of ABL Group – and its existing resourcing business unit.

The joint business will include specialist competence to support the oil and gas, maritime and renewable energy industries, including the digitalisation of its operations.

“Availability of top technical competence is key to realising the energy industry’s ambitions. When we acquired AGR, we obtained a reputable competence provider that has a leading position in the energy industry. We are more than doubling our capacity through the acquisition of Techconsult, who also adds expertise within renewables, energy transition and the digitalisation of the energy industries. This will allow us to support more clients in tackling the skills shortage challenge and to diversify into markets where we can provide our support.”

Reuben Segal, CEO of ABL Group ASA

ABOUT TECHCONSULT

In 2024, Techconsult delivered revenue of NOK 346 million (USD 32 million) and EBIT of NOK 17 million (USD 1.6 million).

“With innovation at our core, we have continually developed our offering to support the growing energy transition and renewables sector, with a third of our business in this space, whilst maintaining our strong commitment as a go-to provider for the oil and gas market. Joining AGR is the natural next step in Techconsult’s strategy. It represents a synergy of two teams with a shared vision, unlocking opportunity on both sides to continue what we are doing, but with an even stronger platform to deliver to more clients and to develop further together.”

Ronny Meyer, Founder and CEO of Techconsult

STRATEGIC RATIONALE

“Both companies’ vision is to be a preferred technical resourcing provider, and we recognise that together we can create a stronger base to support more clients and expand into new areas. The acquisition also creates wider opportunities for professional development for our colleagues, including international prospects. I am excited about this next chapter for AGR and Techconsult as a joint powerhouse in technical and engineering resourcing.”

Thomas Veseth Saue, General Manager of AGR Consultancy

TRANSACTION TERMS

Techconsult is valued at an enterprise value of NOK 41.5 million (USD 3.7 million) in the transaction. The purchase price will be settled with a combination of cash on completion and a seller’s credit falling due one year after completion. Completion of the transaction is expected in April 2025.

6 February 2025

ABL Group launches offshore wind foundation design arm

Global consultancy in energy and oceans, ABL Group, is launching an expert division in offshore wind foundation design, to sit within its design and engineering arm, Longitude. Industry seniors Jan Erik Berg and Michael Sienko have been appointed to head up the newly established unit.

“Via Longitude, ABL Group has established itself as a trusted partner in design and engineering from concept, FEED to detailed engineering, across energy and oceans. With an extensive track-record in offshore wind globally, moving into the detailed design space is a natural next step. I am delighted that Jan Erik and Michael have accepted to lead this effort.”

Jake Anderson, CEO of Longitude, which is part of Oslo-listed energy and marine consultancy group ABL Group ASA

The offshore wind design team will provide concept design, FEED and detailed design services for bottom-fixed wind turbine generator (WTG) foundations, floating WTG foundations, offshore substation (OSS) foundations, cables and cable-routing, OSS topsides and landfall.

The unit will bring together multi-disciplined engineering and offshore wind foundation design expertise from Longitude and other parts of ABL Group to support developers and operators of offshore wind farms.

Jan Erik Berg will head up the division, while Michael Sienko takes on the role as business development director.

Berg and Sienko both hail from international energy and engineering consultancy COWI, having co-led the company’s offshore wind business. Under their direction, COWI built a leading designer position in offshore wind globally.

“Longitude and the wider ABL Group have an exceptional offshore wind project portfolio, with experience in all foundation types and a reputation as a go-to provider for design and engineering. The company’s large pool of engineering talent, from structural, to electrical, multidisciplined geoscience, and structural loads to a global team of expert draftsmen and women, makes Longitude a key player in this space. I am delighted to take the helm of the new foundation design arm.”

Jan Erik Berg, Head of Offshore Wind Foundation Design at Longitude

Berg is based in Oslo, Norway, and Sienko in Copenhagen, Denmark, adding to Longitude’s geographical footprint.

Longitude provides design and engineering in offshore wind, facilities and subsea, marine design and engineering and marine operations. Its teams are based in the UK, France, Italy, Canada, USA, Mexico, Brazil, Malaysia, Singapore, Australia and Philippines. It also provides design and engineering via the wider ABL Group’s footprint in 43+ countries

Discover ABL Group’s design and engineering branch, Longitude, and their full service offering in energy and oceans:

Visit Longitude’s Website

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26 February 2025 – ABL Group’s 2024 fourth-quarter results

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