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.
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 (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 and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
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 and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
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.
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 and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
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.
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 theEIC 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:
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:
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 and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
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.
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
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.
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
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.
“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.
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:
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 and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
Oslo, Norway, 27 January 2025: Reference is made to the stock exchange release by ABL Group ASA (“ABL Group” or the “Company”) published on 20 January 2025 regarding a share capital increase following the exercise of share options.
The issuance of 990,000 new shares has been registered with the Norwegian Register of Business Enterprises. Following registration, the share capital of ABL Group is NOK 13,109,286.70 divided into 131,092,867 shares, each share having a par value of NOK 0.1.
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 and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.
ABL Group ASA (“ABL Group” or the “Company”) (OSE: ABL): In accordance with resolution on remuneration to the Board of Directors made at the Annual General Meeting held 29 May 2024, the Company’s Board of Directors and an observer have been allocated shares (held in treasury) as follows:
Shares allocated to Glen Ole Rødland have been allocated to Gross Management AS, a company controlled by Glen Ole Rødland, while the shares allocated to Rune Eng have been allocated to Eng Invest AS, a company controlled by Rune Eng.
The shares have a lock-up of minimum 24 months from the date of the Annual General Meeting.
Primary insider notification forms pursuant to the requirements of the Market Abuse Regulation are attached hereto.
Following completion of the above allocations, ABL Group owns a total of 248,213 of its own shares, corresponding to 0,19 % of ABL Group’s share capital.
This information is subject to the disclosure requirements pursuant to MAR Article 19 and Section 5-12 of the Norwegian Securities Trading Act.
