HAV Group ASA today announces the annual report for 2021. 
 
"2021 was an eventful year for HAV Group with high business activity and good
results. The group was established and listed on Euronext Growth Oslo in March
2021 and was a corporate spin-off of the ship design and equipment companies in
Havyard Group. Although HAV Group is new, the subsidiaries are well established
with leading energy-saving and environmentally friendly technologies in their
respective markets. The global trends in energy optimization and actions to
combat climate change are beneficial for the HAV companies, which are experts in
guiding the maritime industry in the green shift. We have set the course and
have already navigated past significant buoys in the voyage towards a
sustainable future at sea," says Gunnar Larsen, Chief Executive Officer of HAV
Group. 
 
The company reported 2021 revenues of NOK 916.7 million, up from NOK 646.4
million in 2020, with an EBIT of NOK 92.2 million (30.9). The company had NOK
376 million (34) in cash at the end of 2021. At the end of the year, an updated
assessment was done of the loss carry- forward, which leads to a tax effect of
approximately NOK 10 million. This does not entail a change in tax payable for
2021.
 
"Considering our strong position, HAV Group will be an active owner who works
together with our subsidiaries to realize our strategy. Our key points are added
value through collaboration within the group, further internationalization,
development of innovative and sustainable technologies and new business
opportunities. Based on the beneficial underlying long-term development in the
subsidiaries, sales activity, the pipeline and market development, HAV Group has
an ambition of revenues exceeding NOK 1.3 billion in 2025. This gives us the
size and position to exploit the opportunities the green shift provides in the
coming decades," Larsen concludes. 
 
The annual report for 2021 is enclosed. 
 
For additional information, please contact:  

Gunnar Larsen, CEO  
gunnar.larsen@havgroup.no 
+47 901 05 694  
 
About HAV Group | www.havgroup.no  
HAV Group is an international provider of technology and services for maritime
and marine industries, listed on Euronext Growth Oslo under the ticker code HAV.
The group comprises four subsidiaries with several decades of combined
experience in the industry, in addition to special expertise in guiding the
marine and maritime industries through the green shift and towards the goal of
zero emissions.  
 
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock
exchange announcement was published by Daniel Kopperstad, Head of Legal Affairs,
on 29 April 2022 at 07:00 CET.