Aqualis ASA: Q3 2026 financial results

29 October 2026 - Aqualis's 2026 third quarter results

HIGHLIGHTS Q3 2026

-	Revenues of USD 83.8 million (Q2 26: USD 90.8 million)
-	Operating profit of USD 4.3 million (Q2 26: USD 4.4 million)
-	Adjusted EBIT of USD 5.0 million (Q2 26: USD 5.3 million)
-	Net debt of USD 21.7 million (Q2 26: USD 20.4 million)
-	Semi-annual dividend of NOK 0.45 per share declared

Hege Norheim, CEO of Aqualis ASA (the "Company", and together with its
subsidiaries, the "Group" or "Aqualis") commented:

"This quarter marks my first anniversary as CEO of Aqualis. Over the past year,
I have gained a deep appreciation for the quality of the company and, above all,
for our hard-working and ambitious teams around the world.

Q3 demonstrates the progress we are making in flexing to market conditions as
well as productivity, which is now showing in profitability. The adjusted EBIT
margin of 5.9% is the highest level we have delivered since 2023, reflecting the
measures we have implemented over the last year and the continued focus across
the organisation on improving performance.

From a segment perspective, ABL maintained a strong performance in a seasonally
weaker quarter, with particularly good delivery in the European and the Middle
East regions. AGR increased adjusted EBIT despite the reduction in revenue,
supported by a flexible cost base and continued strong performance from the
wells business in Australia. OWC delivered improved revenue and profitability,
while Longitude continued to grow and benefited from the addition of SynergenOG.


We continue to invest in Aqualis through our Group Investment Programmes, which
are focused on improving productivity, developing new services, and expanding
our capabilities into new sectors and geographies. These Programmes, which we
expect to continue through 2027, are key steps to achieving our ambition of a
20% ROCE. In Q3 we expensed USD 1.1 million associated with these Programmes,
whilst still increasing EBIT margin in the quarter.

Looking ahead, our outlook remains positive through the remainder of 2026 and
into 2027, although energy-market volatility, inflation and elevated financing
costs continue to delay some client decisions. Offshore oil and gas and maritime
markets provide a relatively stable demand base, while we see selective progress
in offshore wind and renewables."

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 Aqualis's website, www.aqualis-group.com.

The quarterly earnings release and a corresponding slide presentation is
available on www.newsweb.no and on Aqualis's web site, www.aqualis-group.com

ENDS

For further information, please contact:

Investors and financial media:
Stuart Jackson, Chief Financial Officer, Aqualis ASA
Email: stuart.jackson@aqualis-group.com

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

About Aqualis
Aqualis (OSE: Aqualis ASA - ticker code "AQUA") 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 44 countries worldwide and operates under four main
brands: ABL, OWC, Longitude and AGR.
has offices in 44 countries worldwide and operates under four main\
brands: ABL\, OWC\, Longitude and AGR.\