| Financial Year 2020 | Event |
|---|---|
| 30.04.20 | Annual Report |
| 28.05.20 | Quarterly Report – Q1 |
| 10.06.20 | Annual General Meeting |
| 27.08.20 | Half-Yearly Report |
| 29.10.20 | Quarterly Report – Q3 |
This information is published pursuant to the requirements set out in the Continuing obligations.
The Board of Directors of AqualisBraemar ASA has approved the consolidated financial statements, the parent company’s financial statements and the Board of Directors’ report for 2019. There are no material changes compared with the Q4 2019 report released on February 27, 2020.
The Board of Directors will propose to the Annual General Meeting, to be held on June 10, 2020, that a dividend of NOK 0.20 per share will be distributed.
An electronic version of the 2019 annual report will be made available.
Kim Boman, CFO, AqualisBraemar ASA
Telephone: +47 959 63 91
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
AqualisBraemar ASA (OSE: Aqua) is a public listed company that, through its subsidiaries and associates, offers adjusting, marine, offshore and renewables consultancy services to the energy, shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 48 offices located across 5 continents in 31 countries. AqualisBraemar ASA operates under three distinct brands globally:
The management of AqualisBraemar ASA is closely monitoring the COVID-19 situation and has implemented strict measures to ensure the safety of clients, employees and business partners whilst making every effort to maintain an uninterrupted level of service to our clients. The COVID-19 situation has not had a significant group-wide impact on AqualisBraemar’s activity level to date.
“There have been positives and negatives for us to date. Positively, through our extensive global footprint of staff and subcontractors currently covering almost 160 locations, we have been able to increasingly support new clients at locations where others have been unable to access. Negatively, the increasing global travel restrictions present challenges to us and our clients, increasing complexity in project execution. Our prime focus remains to provide an uninterrupted service to our clients but, in light of the seriousness of the current global healthcare crisis, the evolving circumstances will probably lead to a different way of working, including more web-based collaboration and advisory methods. We are already kicking off new client projects and delivering on existing consultancy assignments through our robust online infrastructure“, says David Wells, CEO of AqualisBraemar.
“At this stage, it is hard to quantify the lasting impact of COVID-19 to our trading. We have not yet experienced a significant group-wide impact on our activity level, but continued travel restrictions will inevitably affect short term business development and operations in various ways. We continue to monitor the situation closely and remain agile in response to any business disruptions that may arise. We remain confident in the significant commercial opportunities that will still manifest themselves, and believe AqualisBraemar will have a strong underlying momentum when returning to a normalized business environment, providing a solid platform for long-term growth”, David Wells concludes.
Kim Boman, CFO, AqualisBraemar ASA
Telephone: +47 959 63 912
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
AqualisBraemar ASA (OSE: Aqua) is a public listed company that, through its subsidiaries and associates, offers adjusting, marine, offshore and renewables consultancy services to the energy, shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 48 offices located across 5 continents in 31 countries. AqualisBraemar ASA operates under three distinct brands globally:
Oslo, 31 March 2020:
The following primary insiders have bought shares in AqualisBraemar ASA (“AqualisBraemar”):
Abaci Invest AS, a company controlled by Ole Fegth, has bought 2,128 shares in AqualiBraemars, at an average price of NOK 2.89 per share. Ole Fegth provides accountancy services to AqualisBraemar ASA.
Following the transaction, Ole Fegth and his close associates holds 49,685 shares in AqualisBraemar, representing 0.1% of the outstanding share capital.
This information is subject to disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.
Oslo, 30 March 2020:
The following primary insiders have bought shares in AqualisBraemar ASA (“AqualisBraemar”):
Abaci Invest AS, a company controlled by Ole Fegth, has bought 15,994 shares in AqualiBraemars, at an average price of NOK 2.40 per share. Ole Fegth provides accountancy services to AqualisBraemar ASA.
Following the transaction, Ole Fegth and his close associates holds 47,547 shares in AqualisBraemar, representing 0.1% of the outstanding share capital.
This information is subject to disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.
Oslo, 29 March 2020:
The following primary insiders have bought shares in AqualisBraemar ASA (“AqualisBraemar”):
Abaci Invest AS, a company controlled by Ole Fegth, has bought 6,563 shares in AqualiBraemar, at an average price of NOK 2.40 per share. Ole Fegth provides accountancy services to AqualisBraemar.
Following the transaction, Ole Fegth and his close associates holds 31,563 shares in AqualisBraemar, representing 0.004% of the outstanding share capital.
This information is subject to disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.
Offshore Wind Consultants Ltd (“OWC”), a wholly owned subsidiary of AqualisBraemar ASA (“AqualisBraemar” or the “Company”), has entered into a contract to provide engineering services for an offshore wind development project on the UKCS with an undisclosed client.
The contract is for a term of approximately three years, and the scope of work includes Owners Engineering and Project Development Support. The revenue under the awarded contract over the full term is expected to exceed USD 6 million.
Kim Boman, CFO, AqualisBraemar ASA
Telephone: +47 959 63 912
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
AqualisBraemar ASA (OSE: Aqua) is a public listed company that, through its subsidiaries and associates, offers adjusting, marine, offshore and renewables consultancy services to the energy, shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 48 offices located across 5 continents in 31 countries. AqualisBraemar ASA operates under three distinct brands globally:
This press release may include “forward-looking statements”. These statements may be identified by the use of words like “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar expressions and may refer to, amongst other topics, capital expenditure, cash flows, costs, growth, performance, profits, sales, acquisitions, and strategy. Any such statements reflect our views as of the date made and are subject to risks and uncertainties. We disclaim any responsibility to update forward-looking statements.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Aqualis Offshore AS, a Norwegian subsidiary, has received a penalty charge notice of NOK 1.6 million from Økokrim public prosecutors’ office regarding an alleged violation in 2017 of the Norwegian pollution control act concerning transportation of waste for recycling across national borders, specifically related to the vessel Tide Carrier. Aqualis Offshore contests the charges. Økokrim has also advised that it will raise the fine to NOK 2.0 million if Aqualis Offshore rejects the fine and the case is brought to court.
The penalty charge relates to a marine warranty survey conducted by Aqualis Offshore in 2017 on the vessel Tide Carrier in Kvinnherad, Norway. Prior to its departure, whilst crew were reportedly undertaking some anciliary equipment overhauls, the vessel dragged its anchor during the onset of a storm and was subsequently towed to Gismarvik quay where it was placed under arrest. After investigation, Økokrim charged and fined the vessel’s commercial manager for attempting to illegally export hazardous waste to Pakistan. In issuing the penalty charge notice to Aqualis Offshore, Økokrim claims that Aqualis Offshore aided this attempt.
Aqualis Offshore strongly opposes Økokrim’s assessment of its role in the case. As an independent technical surveyor, Aqualis Offshore is not involved with decisions about where shipowners trade their vessels nor is responsible for ensuring shipowners comply with their legal obligations. With this penalty charge notice, Økokrim attempts to hold Aqualis Offshore legally accountable for destination decisions and processes that are outside the company’s influence and control.
“Økokrim’s charge against Aqualis Offshore can be compared with trying to hold a licensed automotive workshop responsible for where a car owner decides to drive their car following the completion of a periodic motor vehicle inspection (EU control/MOT test),” says CEO David Wells.
Aqualis Offshore believes that a full court hearing will prove that the company acted diligently in connection with the company’s marine warranty assignment, and that Økokrim is trying to hold Aqualis Offshore legally accountable for matters the company has no influence over. As the case will now go to court, further comments on this matter will currently not be provided.
Kim Boman, CFO, AqualisBraemar ASA
Telephone: +47 959 63 912
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
AqualisBraemar ASA (OSE: Aqua) is a public listed company that, through its subsidiaries and associates, offers adjusting, marine, offshore and renewables consultancy services to the energy, shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 48 offices located across 5 continents in 31 countries. AqualisBraemar ASA operates under three distinct brands globally:
David Wells, CEO of AqualisBraemar ASA (“AqualisBraemar” or the “Company”) commented:
“2019 was an important and transformative year for AqualisBraemar. The acquisition of Braemar Technical Services roughly doubled the size of the company and improved our offering to our clients, who now benefit from a broader suite of services and increased geographical footprint. The transaction was also an important step forward to consolidate our industry. The integration is on track and progressing well quarter by quarter.
OWC, our renewables arm, had a strong year delivering annual organic revenue growth of 46%. We continue to see increasing demand for OWC’s expertise and anticipate continued high growth in 2020, albeit at a lower rate than 2019.
In the fourth quarter, we saw improvements across most segments. Middle East and Americas delivered the highest sequential growth in revenue and EBIT, primarily driven by increased offshore activity.
The year has started positively across our businesses, but tail risk has increased due to COVID-19 and potential impact on economic activity. Activity in China will be significantly affected in the first half of the year.
Finally, we are happy to announce that the Board has proposed resuming dividend payments on a new semi-annual schedule. Our shareholders supported the Company in connection with the BTS transaction, and we are pleased to start paying back that trust.”
A presentation of the fourth quarter 2019 results is scheduled today at 08:00 am CET at Danske Bank, Bryggetorget 4, Oslo. The event will be webcasted live and available for replay shortly after. To watch the webcast over the internet, please visit our webcasts page at least 10 minutes early to register and to download and install any necessary software.
Kim Boman, CFO, AqualisBraemar ASA
Telephone: +47 959 63 912
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
AqualisBraemar ASA (OSE: Aqua) is a public listed company that, through its subsidiaries and associates, offers adjusting, marine, offshore and renewables consultancy services to the energy, shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 48 offices located across 5 continents in 31 countries. AqualisBraemar ASA operates under three distinct brands globally:
AqualisBraemar ASA (“AqualisBraemar”) will release its fourth quarter 2019 results on Thursday, February 27, 2020 at approximately 07:00 am Central European Time (CET).
A presentation of the quarterly results is scheduled the same day at 08:00 am CET at Danske Bank, Bryggetorget 4, Oslo. The event will be webcasted live and available for replay shortly after. To watch the webcast over the internet, please visit AqualisBraemar’s website, www.aqualisbraemar.com, at least 10 minutes early to register and to download and install any necessary software.
The earnings release concerning the fourth quarter 2019 results and a corresponding slide presentation will be posted on www.newsweb.no and on AqualisBraemar’s website www.aqualisbraemar.com.
Kim Boman, CFO, AqualisBraemar ASA
Telephone: +47 959 63 912
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no
AqualisBraemar ASA (OSE: Aqua) offers independent consultancy services to the offshore energy (oil & gas and renewables), shipping and insurance industries. The group employs specialist engineers, naval architects, master mariners, loss adjusters and technical consultants in 33 countries worldwide. AqualisBraemar ASA operates under three brands:
