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2025-02-27 Bokslutskommuniké 2024
2024-11-20 Kvartalsrapport 2024-Q3
2024-08-29 Kvartalsrapport 2024-Q2
2024-05-23 Kvartalsrapport 2024-Q1
2024-05-10 Ordinarie utdelning NRC 0.00 NOK
2024-05-08 Årsstämma 2024
2024-02-27 Bokslutskommuniké 2023
2023-11-24 Kvartalsrapport 2023-Q3
2023-08-29 Kvartalsrapport 2023-Q2
2023-05-24 Kvartalsrapport 2023-Q1
2023-05-05 Ordinarie utdelning NRC 0.00 NOK
2023-05-04 Årsstämma 2023
2023-02-21 Bokslutskommuniké 2022
2022-11-08 Kvartalsrapport 2022-Q3
2022-08-18 Kvartalsrapport 2022-Q2
2022-05-11 Kvartalsrapport 2022-Q1
2022-05-06 Ordinarie utdelning NRC 0.00 NOK
2022-05-05 Årsstämma 2022
2022-02-16 Bokslutskommuniké 2021
2021-11-09 Kvartalsrapport 2021-Q3
2021-08-19 Kvartalsrapport 2021-Q2
2021-05-12 Kvartalsrapport 2021-Q1
2021-05-07 Ordinarie utdelning NRC 0.00 NOK
2021-05-06 Årsstämma 2021
2021-02-17 Bokslutskommuniké 2020
2020-11-10 Kvartalsrapport 2020-Q3
2020-08-19 Kvartalsrapport 2020-Q2
2020-05-20 Kvartalsrapport 2020-Q1
2020-05-07 Ordinarie utdelning NRC 0.00 NOK
2020-05-06 Årsstämma 2020
2020-03-09 Extra Bolagsstämma 2020
2020-02-13 Bokslutskommuniké 2019
2019-11-05 Kvartalsrapport 2019-Q3
2019-08-20 Kvartalsrapport 2019-Q2
2019-05-14 Kvartalsrapport 2019-Q1
2019-05-09 Ordinarie utdelning NRC 0.00 NOK
2019-05-08 Årsstämma 2019
2019-02-12 Bokslutskommuniké 2018
2018-11-06 Kvartalsrapport 2018-Q3
2018-08-14 Kvartalsrapport 2018-Q2
2018-05-08 Kvartalsrapport 2018-Q1
2018-04-20 Ordinarie utdelning NRC 1.75 NOK
2018-04-19 Årsstämma 2018
2018-02-13 Bokslutskommuniké 2017
2017-11-07 Kvartalsrapport 2017-Q3
2017-08-15 Kvartalsrapport 2017-Q2
2017-05-11 Kvartalsrapport 2017-Q1
2017-05-04 Ordinarie utdelning NRC 0.80 NOK
2017-05-03 Årsstämma 2017
2017-02-15 Bokslutskommuniké 2016
2016-11-08 Kvartalsrapport 2016-Q3
2016-08-18 Kvartalsrapport 2016-Q2
2016-05-28 Extra Bolagsstämma 2016
2016-05-20 Kvartalsrapport 2016-Q1
2016-05-13 Ordinarie utdelning NRC 0.00 NOK
2016-05-12 Årsstämma 2016
2016-02-29 Bokslutskommuniké 2015
2015-12-02 Extra Bolagsstämma 2015
2015-11-09 Kvartalsrapport 2015-Q3
2015-08-28 Kvartalsrapport 2015-Q2
2015-05-28 Årsstämma 2015
2015-05-08 Ordinarie utdelning NRC 0.00 NOK
2015-04-30 Kvartalsrapport 2015-Q1
2015-02-25 Bokslutskommuniké 2014
2014-10-30 Kvartalsrapport 2014-Q3
2014-08-21 Kvartalsrapport 2014-Q2
2014-05-23 Ordinarie utdelning NRC 0.00 NOK
2014-05-22 Årsstämma 2014
2014-05-15 Kvartalsrapport 2014-Q1
2014-02-27 Bokslutskommuniké 2013
2013-11-29 Extra Bolagsstämma 2013
2013-11-21 Kvartalsrapport 2013-Q3
2013-08-07 Kvartalsrapport 2013-Q2
2013-06-05 Årsstämma 2013
2013-05-08 Kvartalsrapport 2013-Q1
2013-04-26 Ordinarie utdelning NRC 0.00 NOK
2013-02-08 Bokslutskommuniké 2012
2012-10-25 Kvartalsrapport 2012-Q3
2012-08-16 Kvartalsrapport 2012-Q2
2012-07-11 Extra Bolagsstämma 2012
2012-05-31 Kvartalsrapport 2012-Q1
2012-05-31 Årsstämma 2012
2012-04-26 Ordinarie utdelning NRC 0.00 NOK
2012-02-29 Bokslutskommuniké 2011
2011-10-27 Kvartalsrapport 2011-Q3
2011-08-11 Kvartalsrapport 2011-Q2
2011-06-02 Ordinarie utdelning NRC 0.00 NOK
2011-06-01 Årsstämma 2011
2011-05-05 Kvartalsrapport 2011-Q1
2011-02-17 Bokslutskommuniké 2010
2010-10-28 Kvartalsrapport 2010-Q3
2010-08-12 Kvartalsrapport 2010-Q2
2010-04-30 Ordinarie utdelning NRC 0.00 NOK
2010-04-29 Kvartalsrapport 2010-Q1
2010-02-18 Bokslutskommuniké 2009
2009-05-04 Ordinarie utdelning NRC 0.00 NOK
2008-04-30 Ordinarie utdelning NRC 0.00 NOK
2007-04-13 Ordinarie utdelning NRC 0.00 NOK
2006-05-04 Ordinarie utdelning NRC 0.00 NOK

Beskrivning

LandNorge
ListaOB Match
SektorTjänster
IndustriFordon & Transport
NRC Group är en industrikoncern inriktade mot mark- och anläggning. Bolaget levererar ett brett utbud av lösningar som berör integrerade infrastrukturtjänster och underhåll till järnvägar, samt elektroniska tjänster inom geologisk analys, program som samlar in och behandlar information för olika infrastrukturprojekt. Störst verksamhet återfinns inom den nordiska marknaden. Bolaget grundades 1966 och har sitt huvudkontor i Lysaker.
2020-05-20 07:00:16
Today, 20 May 2020, NRC Group has released its financial results for the first
quarter of 2020.

The recorded webcast is available through the following link:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20200520_4

A Q&A session in English will be held at 11.00 AM (CET). Participants who have
questions can ask questions via the moderator.

Participants dial-in numbers:

NO: +47 2396 3688

SE: +46 850 558 351

FI: +44 333 300 9270

DK: +45 7815 0109

UK: +44 333 300 9270

US: +1 833 526 8396

Below you will find highlights and a summary from the report.

REVENUE

  · NOK 1.3 billion
  · Organic growth of 7%

EBITA*

  · NOK -54 million (NOK -54 million in Q1 19)
  · Seasonally low activity levels
  · Limited Covid-19 impact

ORDERS

  · Order intake of NOK 1.4 billion
  · Record high order backlog of NOK 8 billion

LIQUIDITY

  · Cash flow from operations of NOK 43 million
  · Private placement of NOK 700 million completed
  · Cash position of NOK 821 million

* Before other income and expenses (M&A expenses)

Comments on first quarter 2020 results

Operational improvements in focus

First quarter revenue was NOK 1,254 million, an increase of 11% from NOK 1,130
million reported for the same period of 2019. The revenue increase is mainly
driven by strong growth in Finland which included one large sale transaction of
materials of approximately NOK 110 million. The organic growth was 7% adjusted
for currency translation effects in the quarter. Group EBITA* was NOK -54
million compared to NOK -54 million for the same period last year. The EBITA*
margin was -4.3% (-4.8%), reflecting the seasonally low activity levels and
partly execution of zero margin projects following project margin adjustments in
the fourth quarter of 2019. The weakening of NOK vs EUR and SEK in the quarter
had a small negative impact on the results.

Implementation of improvement measures aimed at professionalising the
organisation and strengthening tendering, risk assessment and project execution
continued as planned in the quarter. The NOK 55 million overhead cost reduction
program is on track.

Revenue in Norway was NOK 407 million compared to NOK 470 million in first
quarter of 2019. The organic growth was -13%. EBITA* was NOK -14 million,
compared to NOK -5 million in the same period of 2019. The operation in Civil
and Environment has been slightly affected by the Covid-19 situation leading to
lower efficiency and somewhat higher costs in a few projects. The result in
Environment was weaker than the same quarter last year. The improvement program
in Rail is going as planned. The activity level is lower compared to 2019, but
financial results are improving due to the measures implemented.

Revenue from the Swedish operation amounted to NOK 311 million for the quarter
compared to NOK 299 million in the same period of 2019. The organic growth was
-2%. EBITA* was NOK -27 million compared to NOK -20 million in 2019. The EBITA*
was affected by execution of zero margin projects following project margin
adjustments in 2019. The improvement program in Sweden is going as planned.

Finland had revenue of NOK 540 million, compared to NOK 361 million in the first
quarter of 2019. The organic growth was 40% in the quarter, significantly
impacted by one large sale transaction of materials to FTIA amounting to
approximately NOK 110 million, in addition to high activity in the alliance
projects, Tampere Light Rail and Jokeri Light Rail. The EBITA* was NOK -3
million compared to NOK -13 million in the first quarter of 2019. The
improvement in EBITA was driven by the alliance projects. In Maintenance the
result was weaker than anticipated due to higher costs related to closure of
maintenance area 1.

Group operating profit (EBIT) for the quarter amounted to NOK -77 million
compared to NOK -120 million last year. EBIT for the first quarter of 2019
included M&A expenses (other income and expenses) of NOK 48 million related to
the VR Track acquisition.

Net financial items for the continuing operations amounted to NOK -22 million
for the quarter, compared to NOK -16 million for the same period last year. The
increase mainly relates to currency losses of NOK 4 million due to significant
exchange rate fluctuations in March 2020. The interest expense increased due to
higher interest rates on the bond compared to the bank financing.

The order backlog amounted to NOK 8,048 million at 31 March. First-quarter order
intake was NOK 1,417 million, split on announced contracts of NOK 593 million
and unannounced order intake of NOK 824 million, in addition to NOK 734 million
of currency adjustments due to NOK weakening vs. SEK and EUR.

In Norway, new orders included a NOK 75 million contract for ground and railway
technical works for Bane NOR on the railway connection between Oslo and Ski. In
Sweden, The Swedish Transport Administration (Trafikverket) awarded NRC Group a
SEK 149 million catenary contract and a SEK 100 million track renewal project.
In addition, a SEK 75 million contract for ground, foundation and construction
work at Almnäs was awarded by Consto AB. The Finnish Transportation
Infrastructure Agency (FTIA) appointed NRC Group to two maintenance contracts
with a combined value of EUR 9.3 million.

Subsequent to the quarter, the Group was appointed to a NOK 199 million contract
in Norway by Bane NOR, for preparatory works in connection with the new ERTMS
signalling system on Bergensbanen, Flåmsbanen and Randsfjordbanen. In Sweden,
NRC Group was awarded a SEK 65 million contract for track, electro and
signal/telecom work on the railway connection between Lund and Arlöv.

Tendering activity remains high across NRC Group's markets and the company has
identified an addressable tender pipeline of approximately NOK 18 billion for
the next nine months. This compares to an approximately NOK 16 billion tender
pipeline three months ago.

The Norwegian market remains active with several tenders ongoing even as the
Covid-19 situation creates uncertainty. While delays to some project awards have
been announced, Bane NOR has received Parliament approval for a NOK 200 million
increase to maintenance and renewal spending in 2020. The revised national
budget also included approximately net NOK 550 million of extra allocations to
existing investment projects in 2020. There is broad political support for
improving the national railway system with NOK 27 billion allocated to the
railway sector in 2020, up close to 5% from the revised 2019 budget. The
maintenance backlog is expected to increase further to NOK 21 billion at the end
of 2020 as renewal investments of NOK 3.5 billion yearly are required to offset
actual wear on existing infrastructure. These factors indicate continued growth
in railway infrastructure investments and activity in Norway.

Tendering activity in Sweden continued to improve in the first quarter, as
expected. At the end of the first quarter, the Swedish Government approved
construction start for seven railway projects in the 2020-2022 period and to
start preparations for further construction projects scheduled to commence in
2023-2025. The projects are all part of the current National Transport Plan.

The Swedish national budget for 2020 forecasts SEK 13.6 billion in new
investments, up 30% from 2019, and maintenance investments of SEK 10.2 billion,
an increase of 1%. In 2021, new investments and maintenance spending are
expected to grow by 20% and 18%, respectively. The sum of planned new
investments and maintenance spending for the three coming years is estimated to
exceed the average annual level for the NTP plan period.

In Finland, the expectation in the beginning of the year was that the
addressable market would grow to EUR 0.89 billion in 2020. The main drivers for
the growth was expected to be by light rail projects and an expected increase in
renewal and reinvestment, based on Governmental decisions in 2019. NRC Group is
already taking part in the ongoing light rail projects in the market. In
addition, there will be a permanent increase of EUR 300 million allocated to
basic transport infrastructure to reduce the maintenance backlog. This will be
on top of the existing budget. NRC Group is estimating that EUR 100 million of
the permanent increase will be allocated to rail yearly in 2020-2022.
Maintenance is expected to be quite stable in 2020, with 1% growth. The updated
tender pipeline in Finland does not reflect the market growth for 2020 to be in
line with the estimated market growth in the beginning of the year.

In February, NRC Group presented its strategy update: creating a Nordic leader
in sustainable infrastructure. The company raised NOK 700 million gross in new
equity capital to support the Group's plan to restore profitability and long
-term growth.

NRC Group has built a leading Nordic position covering the entire value chain in
rail construction and maintenance and complementary positions in civil
construction and environmental services. The Group is positioned to benefit from
large and growing infrastructure markets that are supported by strong macro
trends such as sustainability, population growth and urbanisation, and political
consensus for increased investments in Norway, Sweden and Finland.

After a period of strong organic and M&A driven growth and weak results in 2018
and 2019, the company has shifted its strategic focus to operational
improvements to restore profitability and to lay the groundwork for continued
organic growth and expansion into complementary services.

NRC Group has established a clear strategic roadmap with the ambition of NOK 10
billion in revenues and 7% EBITA margin in 2024. This implies a return to the
2016-2017 average margins, with the main uplift to come from internal
improvements. For the full year 2020, NRC Group targets an EBITA margin
exceeding 2.8%. For 2021, the Group targets an EBITA margin up towards 5%,
before gradually realising additional improvements towards the ambition level of
7% for 2024. The NOK 10 billion revenue ambition reflects an extensive group
-wide process built on expected annual growth of 9% for the Nordic rail services
market, organic growth and expansion opportunities in complementary services,
and bolt-on M&As in existing segments and services.

The first quarter 2020 result report and result presentation can be found
attached and will be available on the company's homepage: www.nrcgroup.com.

For further information, please contact Dag Fladby, Chief Financial Officer, NRC
Group ASA on tel: +47 90 89 19 35.

About NRC Group

NRC Group is the leading rail infrastructure entrepreneur in the Nordic region
employing around 2,000 professionals located in Norway, Sweden and Finland. NRC
Group creates infrastructure that goes beyond the demands of today and tomorrow
and offers a full range of services throughout the transport infrastructure life
cycle. The company's vision is to be the most attractive partner and employer of
tomorrow's infrastructure.

NRC Group has experienced significant growth since its inception in 2011 and has
a revenue of approximately NOK 6 billion. NRC Group, with its headquarters
located in Lysaker, Oslo, is listed on the Oslo Stock Exchange under ticker
"NRC". The company's chief executive officer is Henning Olsen.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.