{"id":6756,"date":"2019-02-28T05:59:04","date_gmt":"2019-02-28T05:59:04","guid":{"rendered":"https:\/\/aqualisoffshore.com\/?p=6756"},"modified":"2019-02-28T05:59:04","modified_gmt":"2019-02-28T05:59:04","slug":"q4-financial-results","status":"publish","type":"post","link":"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2019\/q4-financial-results\/","title":{"rendered":"Q4 financial results"},"content":{"rendered":"\n<p>Oslo, Norway \u2013 February 28, 2018  \n \n<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Growth continues &#8211; led by offshore renewables    <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Highlights Q4 2018    <\/h3>\n\n\n\n<ul class=\"bullets wp-block-list\"><li>Revenues of USD 9.8 million in Q4 2018 vs. USD 8.9 million in Q4 2017 <\/li><li>EBITDA of USD 0.9 million in Q4 2018 vs. USD 0.7 million in Q4 2017 <\/li><li>Adjusted EBIT of USD 0.9 million in Q4 2018 vs. USD 0.6 million in Q4 2017<\/li><li>Billing ratio of 84% in Q4 2018<\/li><li>Continued solid HSE performance and no lost time incidents (LTIs) during the  quarter<\/li><li>Robust financial position with cash balance of USD 5.5 million<\/li><li>Offshore renewable business growing and increasingly important for group<\/li><li>Strong operational performance for our new office in Taiwan<\/li><li>Activity in offshore wind market is high and expanding globally<\/li><li>The oil &amp; gas market remains challenging with signs of recovery<\/li><li>Order backlog of USD 7.8 million with increase in pipeline of opportunities    <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">  Highlights Full Year 2018    <\/h3>\n\n\n\n<ul class=\"bullets wp-block-list\"><li>Revenues of USD 36.2 million in 2018 vs. USD 31.1 million in 2017<\/li><li>Offshore renewables revenues increased by 37% in 2018 vs 2017<\/li><li>Offshore oil and gas revenues increased by 13% in 2018 vs 2017<\/li><li>EBITDA of USD 2.5 million in 2018 vs USD 1.9 million in 2017<\/li><li>Adjusted EBIT of USD 2.4 million in 2018 vs USD 1.7 million in 2017<\/li><li>Billing ratio of 83 % in 2018, same as in 2017<\/li><li>Solid HSE performance and no lost time incidents (LTIs) during the year<\/li><li>Successful start of new office in Taiwan and launch of rig inspection services<\/li><li> Payment of dividend of NOK 0.90 per share in 2018<\/li><li>The Board of Directors proposes an ordinary dividend of NOK 0.10 per share  <\/li><\/ul>\n\n\n\n<p><em>\u201cWe have had another good quarter with strong execution and a strengthening of  our market position globally. Our geographical expansion continues through the  opening of an office in Perth, Australia. We look forward to supporting the oil &amp;  gas and renewables developments in the Australasia region.     <\/em><\/p>\n\n\n\n<p><em>The activity in the offshore wind sector remains high and we continue to expand  our operations. Our operations in Taiwan have ramped up quickly and have had  good performance. We are very excited about the future of the offshore wind  business particularly in emerging markets where we have identified several  growth opportunities. This combined with that growth is finally expected to  return to offshore oil and gas investments this year lead us to be optimistic on  a continued strong performance for 2019\u201d<\/em> says Mr. David Wells, CEO of Aqualis  ASA.    <\/p>\n\n\n\n<p>  For more information, please see the attached <a href=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2019\/02\/Q4-2018-report.pdf\">fourth quarter 2018 report<\/a>.    <\/p>\n\n\n\n<p> \nMorning program: \nA presentation is scheduled the same day at 8:00 am CET at SpareBank 1 Markets\u2019 \noffice at Olav Vs gate 5, 0161 Oslo. \n \n<\/p>\n\n\n\n<p>The presentation, held in English, will be webcasted live and available for \nreplay shortly after. To watch the webcast over the internet, please visit \nAqualis\u2019 web site, www.aqualis.no, at least 10 minutes early to download and \ninstall any necessary software. \n \n<\/p>\n\n\n\n<p>The earnings release concerning the fourth quarter 2018 <a href=\"https:\/\/aqualisbraemar.com\/investor-relations\/reports-and-presentations\/\">results<\/a> and a  corresponding <a href=\"https:\/\/abl-group.com\/abl\/wp-content\/uploads\/2019\/02\/Q4-2018-presentation.pdf\">slide presentation<\/a> will be posted on <a href=\"https:\/\/newsweb.oslobors.no\/search?issuer=12348\">www.newsweb.no<\/a> and on  Aqualis&#8217; website <a href=\"https:\/\/aqualisbraemar.com\/\">www.aqualisbraemar.com<\/a>.    <\/p>\n\n\n\n<p class=\"news-footer\">For further information, please contact:\n<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Investors and financial media<\/h5>\n\n\n\n<p>Kim Boman, CFO, Aqualis ASA <br>Telephone: +47 959 63 912 <br>Email: <a href=\"mailto:kim.boman@aqualis.no\">kim.boman@aqualis.no<\/a><\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Other media enquiries<\/h5>\n\n\n\n<p>Endre Johansen, Corporate Communications AS <br>Telephone: +47 41 61 06 05 <br>Email: <a href=\"mailto:endre.johansen@corpcom.no\">endre.johansen@corpcom.no<\/a><\/p>\n\n\n\n<h5 class=\"wp-block-heading\">About Aqualis ASA<\/h5>\n\n\n\n<p>\nAqualis ASA (OSE: Aqua) is a public company that, through its subsidiaries and associates, offers energy consultancy services to the offshore oil, gas and renewables sectors globally. The group employs experienced consultants across 18 offices in 15 countries worldwide. Aqualis ASA operates under two different brands: AqualisBraemar and Offshore Wind Consultants. AqualisBraemar is a specialised offshore marine and engineering consultancy firm, focusing on the shallow and deep-water offshore segments of the oil and gas industry. Offshore Wind Consultants is a globally focused consultancy providing independent services to the offshore renewables industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Growth continues &#8211; led by offshore renewables<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[98,99,58,68,70],"sector":[],"service":[],"company":[],"class_list":["post-6756","post","type-post","status-publish","format-standard","hentry","category-92","tag-financial-results","tag-investor-relations","tag-investors","tag-presentations","tag-reports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Q4 financial results - ABL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2019\/q4-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q4 financial results\" \/>\n<meta property=\"og:description\" content=\"Growth continues - 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