22 August 2024 - ABL Group's 2024 second quarter results

HIGHLIGHTS Q2 2024

o	Revenues of USD 68.6 million (Q2 23: USD 67.9 million)
o	Operating profit of USD 2.2 million (Q2 23: USD 4.4 million)
o	Adjusted EBIT of USD 2.8 million (Q2 23: USD 4.9 million)
o	Net cash of USD 10.8 million (Q1 24: USD 19.4 million)
o	Acquisition of Ross Offshore completed in June
o	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,
weigh on our quarterly results for OWC and has some roll-over 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 that market. 
But, recent indications are that the recovery will be 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. To watch the webcast,
please visit ABL Group's website, www.abl-group.com.

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

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.

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.