15 May 2025 - Endúr ASA (Endúr) delivered pro-forma revenue of NOK 1,539
million, up 14 percent from the same quarter last year (Q1 2024: NOK 1,352.7
million). Pro-forma EBITA was NOK 58.8 million (44.5), equivalent to a margin of
3.8 percent (3.3). 

"We deliver improved performance on all main financial KPIs in this year's first
quarter on the back of increased aggregate activity level from both existing and
recently acquired companies, in what is a quarter impacted by the winter
season," says Jeppe Raaholt, CEO of Endúr.

RECORD-HIGH ORDER BACKLOG
Endúr recorded a solid order intake of NOK 1,426 million in the first quart of
2025 (465), driven by the NOK 600 million turnkey contract for a smolt
production facility to Sævareid Fiskeanlegg and several small and medium-sized
awards in Endúr's Infrastructure segment. 

On 18 March 2025, Endúr completed the landmark acquisition of for the
acquisitions of 100 percent of the shares in Total Betong AS, Igang
Totalentreprenør AS, and Habto Holding AS, including 100 percent of the shares
in HAB Construction AS and ProPoint Survey AS. Further, in January Endúr
completed the acquisition of aquaculture supplier VAQ AS. 

As of 31 March 2025, Endúr's order backlog stood at a record high NOK 4,088
million for the businesses owned at the beginning of the first quarter, and NOK
9,320 million including the businesses that were acquired during the first
quarter of 2025. 

"Our solid backlog provides excellent visibility for 2025 and beyond, and we are
delighted with the new companies that we have added to the group during the
quarter," adds Jeppe Raaholt. 

BUSINESS SEGMENT UPDATE
Endúr is a leading full-service provider for Aquaculture Solutions and
Infrastructure in Norway and Sweden, servicing both public and private sector.

Endúr's Infrastructure segment delivered revenue of NOK 1,300 million in the
first quarter, an increase of 24 percent from the same period last year (1,052).
EBITA was NOK 53.3 million, up 27 percent versus the same period last year
(42.1). Both the Infrastructure segment's order intake and backlog grew
substantially in the quarter, as a result of numerous new contract awards and
the aforementioned acquisitions. 

Revenue in the Aquaculture Solutions segment ended at NOK 178.3 million (235.1).
EBITA was NOK 10.7 million (7.1), equivalent to an EBITA-margin of 6.0 percent
(3.0). Revenue and results were positively impacted by the ramp-up of Salmon
Evolution phase 2 and the addition of Hav Elektro. The revenue decline compared
to the same quarter last year was because of VAQ's finalization of two intensive
build-out projects in this period. 

In the business segment "Other", Endúr Maritime continues to deliver positive
performance. Revenue was NOK 65.5 million (65.4), with EBITA of NOK 4.7 million
(2.8), equivalent to an EBITA margin of 7.2 percent (4.3). 

OUTLOOK
Endúr is experiencing a strong and increasing backlog for all business segments.
The group is currently in the high-activity tender season with many outstanding
bids. 

Future activity level in the Infrastructure segment is supported by the new
Norwegian Transport Plan for 2025-2036 which favors rehabilitation, smaller
projects and aquaculture, a number of major infrastructure projects ratified in
Sweden, plus increased defense budgets and favorable local market for real
estate construction. 

Within Aquaculture Solutions, the long-term outlook for land-based fish farming
remains attractive as exponential growth is expected from investments in
land-based fish farming facilities. 

Recently completed acquisitions will add to the organic growth expected from
existing businesses and recruiting to new market niches. 

PRESENTATION AT 08:00 TODAY
Endúr ASA invites investors, analysts and media to a live webcast presentation
of the company's first quarter 2025 financial results at 08:00 today. 

The webcast presentation can be viewed from the following URL: 
https://my.demio.com/ref/dC9LppW5qdEmGKnm

Questions can be submitted during the live webcast. The presentation material is
enclosed to this announcement. 

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 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Einar Olsen, CFO of Endúr ASA, on 15 May 2025 at
07:00 CET.

(ENDS)

For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance
projects and services for infrastructure, including facilities for land-based
aquaculture, quays, harbours, dams, bridges and other specialized concrete and
steel projects. The company and its subsidiaries also offer a wide range of
other specialized project and marine services. Endúr ASA is headquartered at
Lysaker, Norway. See www.endur.no.