25 April 2024 - ABL Group's 2024 first quarter results

HIGHLIGHTS Q1 2024

o	Revenues of USD 68.9 million (Q1 23: USD 45.2 million)
o	Operating profit of USD 3.4 million (Q1 23: USD 2.7 million)
o	Adjusted EBIT of USD 3.7 million (Q1 23: USD 3.2 million)
o	Net cash of USD 19.4 million (Q4 23: USD 17.2 million)
o	Proposed semi-annual dividend of NOK 0.4 per share in H1 2024 upheld

Reuben Segal, CEO of ABL Group ASA ("ABL Group" or the "Company") commented:
"We achieved solid operating results in the first quarter. The acquisition of
AGR accounted for a large element of our annual growth of 53%, but we also
demonstrated organic growth in all existing parts of the business. We delivered
year-on-year margin improvement across three of our four segments, while our
renewables consultancy OWC experienced lower utilisation in a tough offshore
wind market. 

Our outlook for ABL Group for 2024 remains upbeat. A larger share of global oil
& gas expenditure is expected to go into offshore execution, where ABL Group's
core capacity lies. The offshore wind industry sentiment is improving in what
will be the busiest year of auctions ever in the sector. Finally, activity in
the maritime sector remains high and stable, providing a robust base for our
more cyclical operations."

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 ABL Group's website, www.abl-group.com.

The quarterly slide presentation is available on www.newsweb.no and on ABL
Group's web site, www.abl-group.com.


ENDS

For further information, please contact:

Investors and financial media:
Stuart Jackson, Chief Financial Officer, ABL Group ASA
Email: stuart.jackson@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
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 42 countries worldwide and operates under four
main brands: ABL, OWC, Longitude and AGR.