ABL Group ASA: Q1 2025 financial 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 two 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 our Reports and Presentations page.
The quarterly report and a corresponding slide presentation is available on www.newsweb.no and on our Reports and Presentations page.