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4 November 2024

ABL Appointed to Digitise Canadian Mining Asset Base

One of the world’s leading mining and infrastructure solutions providers has appointed ABL’s asset integrity management (AIM) team to update and streamline its inventory management processes in Canada.

The mining solutions provider utilises digital and automated technologies to create safer, more productive and sustainable mining operations on behalf of its customers. In addition, the company aims to apply this digital approach to its own operations. The client’s manufacturing site in Canada has therefore selected ABL’s asset integrity management unit to develop a bill of materials (BoM) and spare parts pilot project to streamline its inventory management processes through SAP, its computerised maintenance management system (CMMS).

This contract marks the expansion of ABL’s consultancy service to support mining industries. Currently, ABL primarily provides its services to the renewable energy, oil and gas, and maritime industries, however its solutions in AIM and energy transition can be applied to bring value to a wider pool of industries including manufacturing, healthcare, food and drink, among others.

This pilot project focuses on enhancing asset integrity management and inventory management practices, underlining the industry-agnostic capabilities of this service line.

ABL’s Calgary office will spearhead the project in collaboration with the client’s local team in Canada.

Afia McClenaghan

“Our local presence in Calgary has been pivotal in fostering a collaborative relationship with our client as we can leverage on-site support to enhance project outcomes. Diversifying our portfolio by expanding to the mining sector is exciting for us as our technology and AIM services can be applied to any industry. We look forward to delivering high-quality results and nurturing a strong working relationship with our client,”

says Afia McClenaghan, managing director of ABL’s asset integrity management team in Canada.

ABL’s operations in Canada cover Calgary and Halifax

Our Canadian Asset Integrity Management team are based in Calgary and can support your business by offering invaluable advice and helping to implement a range of fully optimised asset management strategies including:

contact canada
explore asset integrity management

Get in touch with our asset integrity management team

4 November 2024

ABL Group ASA: Ex dividend NOK 0.40 today

The shares in ABL Group ASA will be traded ex dividend NOK 0.40 as of today, 4
November 2024.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act and requirements under the EU Market
Abuse Regulation.

1 November 2024

Financial calendar for ABL Group ASA

FINANCIAL YEAR 2024

29.04.2025 – Annual Report

26.02.2025 – Quarterly Report – Q4

FINANCIAL YEAR 2025

20.08.2025 – Half-yearly Report
28.05.2025 – Annual General Meeting

07.05.2025 – Quarterly Report – Q1
30.10.2025 – Quarterly Report – Q3

31 October 2024

ABL Group ASA: Key information relating to cash dividend to be paid

Dividend Amount: NOK 0.40 per share

Declared currency: NOK

Last day, including right: 1 November 2024

Ex-date: 4 November 2024

Record date: 5 November 2024

Payment date: On or about 27 November 2024

Date of approval: 30 October 2024

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and requirements under the EU Market Abuse Regulation.

31 October 2024

ABL Group ASA: Q3 2024 financial results

Highlights Q3 2024

  • Revenues of USD 86.2 million (Q3 23: USD 70.4 million)
  • Operating profit of USD 2.5 million (Q3 23: USD 5.5 million)
  • Adjusted EBIT of USD 3.0 million (Q3 23: USD 6.2 million)
  • Net cash of USD 7.9 million (Q2 24: USD 10.8 million)
  • Continued M&A activity: Ross Offshore fully consolidated from Q3 2024, and Hidromod completed immediately after Q3 close
  • Semi-annual dividend of NOK 0.40 per share declared, to be paid in November

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

“In Q3 2024 we saw a small increase in our EBIT to USD 3.0 million, despite our USD 0.5 million investment in the OWC diversification programme, but were unable to emulate the exceptional performance delivered by the group this quarter in 2023. Our offshore wind market remains challenging, but in other markets we see reasonable demand. The consolidation of Ross Offshore has grown the market presence of our AGR segment, which is now our largest segment measured by revenues and delivered strong performance despite ongoing integration.

The oil & gas, renewables and maritime markets remain solid long-term propositions, and we maintain a strong presence in many key geographies. Near term, as we have seen with offshore wind in the past 12 months, energy markets more broadly are finding a new equilibrium. This leads to shorter-term decision making, but ABL Group is well placed to benefit from the upside to come and will continue to seek accretive M&A opportunities.”

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 earnings release concerning the quarterly results and a corresponding slide presentation are available on www.newsweb.no and on our Reports and Presentations page.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

25 October 2024

ABL Group ASA: Invitation to presentation of Q3 2024 results

ABL Group ASA (“ABL Group”) will release its third-quarter results on Thursday, 31 October 2024, 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 SpareBank 1 Markets’ office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after.

The webcast can be viewed at ABL Group’s website, www.abl-group.com, or directly at https://channel.royalcast.com/landingpage/hegnarmedia/20241031_2/

If you would like to attend the event in person, please notify SpareBank 1 Markets at corporateaccess@sb1markets.no.

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.

3 October 2024

ABL provide marine transportation support to Canada’s REEF project

ABL has been contracted to provide marine advisory and marine warranty survey (MWS) services to the AltaGas and Royal Vopak’s joint venture, to support the  Ridley Island Energy Export Facility (REEF) development in Canada.

REEF is a large-scale liquefied petroleum gas (LPG) and bulk liquids terminal with rail, logistics and marine infrastructure on Ridley Island, British Columbia, Canada.

ABL’s scope of work includes marine advisory and MWS for the transportation of critical and heavy project cargo, from both international and domestic suppliers.

For the early planning phase, ABL’s marine advisory support services comprises commercial and technical bid evaluations as well as engineering design support. For the execution phase, ABL’s MWS services include independent third-party engineering review, vessel inspection, and site representation during cargo handling and transportation from overseas fabrication locations to Canada.

ABL’s involvement has already commenced and will continue until the first quarter of 2026. ABL has not disclosed the value of its contract.

ABL’s operation in Canada will lead the project, with support from ABL’s offices in Houston, Texas, and China.

“The REEF project will receive critical equipment from several corners of the world. Our job is to help make sure it arrives safely on site. Our global office network of marine transportation specialists will play a key role in achieving this,”

says David Ballands, ABL’s director of energy services in the Americas region.

About ABL Maritime in North America

ABL’s extensive marine surveyor and consultancy footprint runs coast-to-coast in Canada and the USA, supporting with the full range of marine assurance & risk services, ports and harbours consultancy, and maritime consultancy, both for risk mitigation and in casualty management scenarios.

ABL’s operations in Canada cover Calgary and Halifax.

ABL Marine warranty surveys
contact the canada team
1 October 2024

For further information, please contact:

Investors and financial media

Stuart Jackson, Chief Financial Officer, ABL Group ASA
Email: stuart.jackson@abl-group.com

Haakon Brandrud, Director of Strategy and Corporate Development, ABL Group ASA
Email: haakon.brandrud@abl-group.com

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: Completion of Hidromod acquisition

Reference is made to the stock exchange announcement dated 12 September 2024 regarding ABL Group entering into an agreement acquire 100 percent of the shares of Hidromod. The transaction has been successfully completed today.

Hidromod is Portugal’s leading consultancy in water management solutions and numerical modelling. Through this acquisition, ABL Group expands its service offering to water management consultancy to support offshore, coastal and inland assets and projects, including with Hidromod’s proprietary subscription-based software AquaSafe. The deal will also enhance existing offerings in ports and harbours consultancy and in climate change risk assessment and adaptation.

Read more about the transaction in our original press release:

ABL Group to acquire water management expert hidromod
12 September 2024

For further information, please contact:

Investors and financial media

Stuart Jackson, Chief Financial Officer, ABL Group ASA
Email: stuart.jackson@abl-group.com

Haakon Brandrud, Director of Strategy and Corporate Development, ABL Group ASA
Email: haakon.brandrud@abl-group.com

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 to acquire water management experts Hidromod

Energy and marine consultancy ABL Group has entered into an agreement to acquire 100 percent of the shares of Hidromod – Portugal’s leading consultancy in water management solutions and numerical modelling.

Through this acquisition, ABL Group expands its service offering to water management consultancy to support offshore, coastal and inland assets and projects, including with Hidromod’s proprietary subscription-based software AquaSafe. The deal will also enhance existing offerings in ports and harbours consultancy and in climate change risk assessment and adaptation.

Reuben Segal

“We are excited to welcome Hidromod as part of ABL Group. Water is fundamental to our planet’s sustainability, both in terms of its essential properties to life and in the risks it poses to infrastructure and communities as climate change effects take hold. Hidromod provides vital and innovative solutions that will bring considerable value to the clients and markets we serve, whilst opening the door to drive sustainability in new sectors.”

Reuben Segal, ABL Group CEO

About Hidromod

Established in 1992, Hidromod specialises in numerical modelling and digital twin solutions to simulate and predict the behaviour of coastal systems, estuaries, catchments and other water bodies. By leveraging its data-science skills, the company provides real-time insights and advanced forecasting, enabling a comprehensive understanding of past, present and future conditions. The company is based in Lisbon and has 16 employees, including five PhDs, and delivered a revenue of approximately EUR 1 million in 2023.

Its solutions are applied to provide accurate evaluations of specific scenarios and improve efficiency in ports and harbours, offshore aquaculture and renewable energy, inland water management covering river engineering and agricultural projects.

Hidromod’s software solution, AquaSafe, is a digital decision support system, designed to process mass datasets and output clear and easy-to-use analyses regarding water behaviours in a particular location or relevant to a project.

Expansion strategy

The acquisition represents an opportunity to globalise and expand Hidromod’s unique expertise and services, leveraging ABL Group’s expansive global footprint and multi-disciplined teams.

Further, Hidromod’s AquaSafe, has significant potential for application across a wider cross-section of industries and to more markets, which ABL Group can provide the entry point for.

The acquisition of Hidromod also represents an opportunity to expand ABL Group’s operations in Portugal, including provision of its marine and renewable energy consultancy to support the local market, leveraging Hidromod’s established market presence and reputation.

The parties have not disclosed the financial details of the transaction, which is expected to be completed in October 2024.

ABL Group ASA is listed on Oslo stock exchange.

22 August 2024

ABL Group ASA: Q2 2024 financial results

22 August 2024 – ABL Group’s 2024 second-quarter results

Highlights Q2 2024

  • Revenues of USD 68.6 million (Q2 23: USD 67.9 million)
  • Operating profit of USD 2.2 million (Q2 23: USD 4.4 million)
  • Adjusted EBIT of USD 2.8 million (Q2 23: USD 4.9 million)
  • Net cash of USD 10.8 million (Q1 24: USD 19.4 million)
  • Acquisition of Ross Offshore completed in June
  • Semi-annual dividend of NOK 0.40 per share paid in June

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

“In Q2 2024 our revenue growth was somewhat curtailed by the continued pause in the offshore wind market, and we were not able to replicate the strong EBIT levels attained last year.  However, I remain positive on the outlook for our business as a whole.

Our ABL and AGR businesses performed reasonably well and I expect the acquisition of Ross Offshore, completed in Q2, to further expand our AGR business segment offering.

However, the pause in the renewables sector, and offshore wind in particular, weighs on our quarterly results for OWC and has some rollover effect in Longitude. The offshore wind sector remains a strong market with high growth potential, and we are very well positioned to take advantage of it.  But, recent indications are that the recovery will take longer to materialise than anticipated. As a consequence, we continue to proactively manage the business in the more challenging near-term market so that we lead the market in the recovery.”

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.

The quarterly report and a corresponding slide presentation are available on our Reports and Presentations page.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.