22 February 2024 - ABL Group's 2023 fourth quarter results

HIGHLIGHTS Q4 2023

o	Revenues of USD 67.7 million (Q4 22: USD 42.8 million)
o	Operating profit of USD 3.9 million (Q4 22: USD 2.5 million)
o	Adjusted EBIT of USD 5.0 million (Q4 22: USD 3.5 million)
o	Net cash of USD 17.2 million (Q3 23: USD 14.9 million)
o	Proposing semi-annual dividend of NOK 0.4 per share in H1 2024

HIGHLIGHTS FULL YEAR 2023	

o	Revenue of USD 251.2 million (2022: USD 167.9 million)
o	Operating profit of USD 16.5 million (2022: USD 12.5 million)
o	Adjusted EBIT of USD 20.8 million (2022: USD 15.3 million)
o	Total dividend of NOK 0.7 per share paid during 2023
o	Completed acquisition of AGR and DWP

Reuben Segal, CEO of ABL Group ASA ("ABL Group" or the "Company") commented:
"Ending the year with record high operational cash flows, 2023 represents
another step change in the development of ABL Group. The acquisition of AGR
accounted for a large element of our annual growth of 50%, but we also
demonstrated organic growth in all existing parts of the business, led by in
renewables consultancy OWC.  We continue our investment in OWC, despite lower
utilisation in the quarter, as this is a longer term play on building a leading
renewables consultancy capability. 

Our outlook for ABL Group for 2024 is 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 ahead of 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 report and a corresponding 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 41 countries worldwide and operates under four
main brands: ABL, OWC, Longitude and AGR.