Asker, Norway - July 20, 2018 

HIGH ACTIVITY LEVEL AND POSITIVE OPERATIONAL PERFORMANCE

Key highlights 

- Revenues of USD 9.6 million in Q2 2018 vs. USD 7.3 million in Q2 2017
- Operating profit (EBIT) of USD 0.7 million in Q2 2018 vs USD 0.4 million in Q2
2017
- Adjusted EBIT of USD 0.7 million in Q2 2018 vs USD 0.4 million in Q2 2017 
- Strong billing ratio of 84% in Q2 2018
- Continued solid HSE performance and no lost time incidents (LTIs) during the
quarter  
- Robust financial position with cash balance of USD 9.8 million
- The oil & gas market remains challenging but with increasing signs of recovery
- Completed the sale of investment in ADLER Solar GmbH
- Activity in offshore wind market still remains high and new contracts have
been secured
- Order backlog at USD 6.8 million with increase in pipeline of opportunities
- Aqualis announces dividend of NOK 0.90 per share

David Wells, CEO of Aqualis ASA said:
"We are pleased with the development in Q2 2018 led by strong performance by our
operations in the Middle East. Most of our entities with focus on the oil & gas
market have delivered solid results despite that the market remains very
competitive with pressure on pricing. There are indications of improvements in
market conditions as break-even costs are reduced and the oil price remain
higher. 

The prolonged downturn has altered the competitive landscape across our regions,
creating both opportunities and challenges. Our aim is to continue to strengthen
our market positions. 

The activity in the offshore wind sector remains high, but with a very
competitive business environment. Growth opportunities are now global and are
likely to increase. We are excited about our ongoing global expansion and
recognize opportunities to expand our business in emerging markets. Our focus is
on capitalizing on these opportunities and leveraging our global office network"


For more information, please see the attached second quarter 2018 report.

Morning program:
A presentation is scheduled the same day at 8:30 am CET at Carnegie's office at
Fjordalleen 16, 0250 Oslo, Norway

The presentation, held in English, will be webcasted live and available for
replay shortly after. To watch the webcast over the internet, please visit
Aqualis' web site, www.aqualis.no, at least 10 minutes early to download and
install any necessary software.

The earnings release concerning the second quarter 2018 results and a
corresponding slide presentation will be posted on www.newsweb.no and on
Aqualis' web site www.aqualisoffshore.com.


For further information, please contact:

Investors and financial media;
Kim Boman, CFO, Aqualis ASA
Telephone: +47 959 63 912
Email: kim.boman@aqualis.no

Other media enquiries:
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05, 
Email: endre.johansen@corpcom.no.



About Aqualis ASA
Aqualis ASA (OSE: Aqua) is a public company that, through its subsidiaries and
associates, offers energy consultancy services to the offshore oil, gas and
renewables sectors globally. The group employs experienced consultants across 17
offices in 14 countries worldwide. Aqualis ASA operates under two different
brands: Aqualis Offshore and Offshore Wind Consultants. Aqualis Offshore is a
specialized offshore marine and engineering consultancy firm, focusing on the
shallow and deep-water offshore segments of the oil and gas industry. Offshore
Wind Consultants is a globally focused consultancy providing independent
services to the offshore renewables industry.