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Beskrivning

LandNorge
ListaEuronext Growth Oslo
SektorEnergi & Miljö
IndustriMiljö & Återvinning
HAV Group är verksamma inom energi- och tillverkningsindustrin. Bolaget arbetar med utveckling av energilösningar till sjöfartsindustrin. Produktportföljen är bred och inkluderar bland annat system för vätgasenergi samt för hantering av ballast. Utöver huvudverksamheten erbjuds eftermarknadsservice, support och underhåll. Verksamhet innehas på global nivå, med störst närvaro inom Skandinavien. HAV-koncernen grundades år 2021.
2022-03-11 07:00:00
HAV Group ASA reported revenue of NOK 224.5 million in the fourth quarter of
2021 (Q4 2020: NOK 143.1 million), with an operating profit of NOK 25.4 (-12.0),
corresponding to a margin of 11.3%. The company reiterates the solid outlook and
targets 2025 revenue of NOK 1.3 billion, with periodic fluctuations reflecting
the project-driven strategy.

"HAV Group delivered a satisfactory fourth quarter with solid activity level and
margins, bringing our full year performance in line with our guidance. We
continue to see increasingly stringent environmental requirements for the
maritime industry, and we will utilize our knowledge, technology and products in
digitization and sustainability to meet these requirements. HAV Group has a
solid platform to expand our leading positions to contribute to the green shift
in the maritime and marine industry, " says Gunnar Larsen, CEO of HAV.

The full year revenue ended at NOK 916.7 million (646.4) with an EBIT of NOK
92.2 million (30.9). The company had NOK 376 million (34) in cash at the end of
2021.

HAV Group will continue to pursue value accretive growth, both organic and
through consolidation. Short-term the subsidiaries have outlined the following
priorities:

HAV Design:
Leverage on market position, competence and customer references to enhance
growth within existing and new market segments.

HAV Hydrogen:
Developing the organization and products in collaboration with potential
customers. Design documentation for the FreeCo2ast project has been submitted to
Flag and Class Administration for preliminary approval.

Norwegian Electric Systems:
Focus on international growth and expansion within Energy Design and smart
control. Utilizing the growing demand for technology enabling energy efficiency
and emission reductions.

Norwegian Greentech:
Optimization of sales and supply chain to leverage the BWMS growth, strengthen
life cycle services and develop new aquaculture offerings.

"Based on the positive underlying long- term development in the subsidiaries,
the sales activity, pipeline and market development, HAV Group has an ambition
of revenues exceeding NOK 1.3 billion in 2025 with solid margins. As the
business is largely project-driven, periodic fluctuations will occur, " Larsen
concludes.

HAV Group will present the financial results for the fourth quarter of 2021 via
webcast on Friday 11 March at 08:00 CET. The presentation is given by Gunnar
Larsen, CEO, and Pål Aurvåg, CFO, and can be followed on:
https://vimeo.com/677078485

Questions can be submitted here during webcast: https://www.menti.com/tnzmqxqipe


The presentation and the board's report for the fourth quarter of 2021 are
attached.

For additional information, please contact:
Gunnar Larsen, CEO
gunnar.larsen@havgroup.no
+47 901 05 694

About HAV Group | www.havgroup.no
The 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 11 March 2022 at 07:00 CET.