HAV Group ASA (HAV Group, OSE: HAV) reports revenues of NOK 303.9 million in the
second quarter of 2021, and an EBIT of NOK 36.8 million. Accumulated turnover in
the first half of the year is 611.6 million with an EBIT of 56 million.
The profit before taxes in second quarter ended at NOK 38.4 million and the
company held NOK 333.7 million in cash at the end of the quarter. The company
has a solid position within solutions enabling the green shift for marine
industries and expect revenues in the range of NOK 850 - 950 million in 2021
with EBIT margins in line with the levels in 2020, based on the positive
development in the subsidiaries, the sales activity, pipeline and market
"The second quarter was another busy period for HAV Group with a high activity
level across the company and several important new project announcements. We
continue to see increasingly stringent environmental requirements providing
requirements for the maritime industry to reduce its environmental footprint
considerably. HAV Group has a solid platform to expand our leading positions
within our industries for contributing to the green shift in the maritime and
marine industries, leveraging on our knowledge, technology and products within
digitalization and sustainability, " says Gunnar Larsen, Chief Executive Officer
of HAV Group.
"The strong growth reflects the high activity level and extensive equipment
deliveries during the quarter. We also announced important sustainability
projects including the design of new electric ferries for Fjord1 and the system
integration project for three ferries that will be converted for battery
operation and zero emissions, providing new showcases for sustainability at sea,
" Larsen adds.
HAV Group will continue to pursue value accretive growth, organic and through
consolidation, and has outlined the following priorities for the subsidiaries:
Leverage on market position, competence and customer references to enhance
growth within existing and new market segments.
Further developing the organization, as well as developing products in
collaboration with potential customers. Furthermore, work is ongoing with class
and authorities in connection with the approval process for the hydrogen system.
The framework conditions for approval are in continuous development, where the
further timeline must therefore be adapted accordingly.
Norwegian Electric Systems:
Focus on international growth and expansion.
Optimization of sales and supply chain to leverage the BWMS growth, strengthen
life cycle services and develop new aquaculture offerings.
HAV Group will present the financial results for the second quarter 2021 Tuesday
31 August at 10:00 CET at Fearnley Securities, Oslo, Norway, Dronning Eufemias
gate 8. The event will hosted by Gunnar Larsen, Chief Executive Officer, and Pål
Aurvåg, Chief Financial Officer, and can also be followed at
Questions can be submitted during the webcast.
The presentation and board of directors' report for the second quarter 2021 is
To registerer your attendance at Fearnley Securites, please send an email to
firstname.lastname@example.org. Note that the audience should be present at Dronning
Eufemias gate 8 no later than 09:50 CET.
Note that the open presentation at Fearnley Securities is subject to the current
covid-19 regulations and that the event may be changed at short term notice.
For additional information, please contact:
Gunnar Larsen, CEO
+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 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
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 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Daniel Kopperstad, Head of Legal Affairs, on 31
August 2021 at 07:00 CET.