ABL Group (ABL) investor relations material

Executive summary

• Q4 2025 revenue rose 3% year-over-year to USD 88.7 million, driven by acquisitions and organic growth in ABL and Longitude segments, but reported an operating loss of USD 4.2 million due to higher costs and goodwill impairments.

• Adjusted EBIT for Q4 was USD 3.2 million, maintaining a 3.6% margin, with reported EBIT impacted by USD 4.4 million goodwill impairment and restructuring costs.

• Net debt increased to USD 5.4 million, mainly due to dividend payments; closing cash balance at USD 14.6 million.

• Two acquisitions (Proper Marine and Techconsult) were completed and integrated, expanding technical and resourcing capabilities.

• Proposed semi-annual dividend of NOK 0.45 per share for H1 2026, totaling USD 6.0 million.

Financial highlights

• Q4 2025 revenue up 3% year-over-year to USD 88.7 million; organic growth in ABL (+6%) and Longitude (+8%).

• Adjusted EBIT stable at USD 3.2 million; reported EBIT negative due to USD 4.4 million goodwill impairment (OWC) and USD 1.7 million restructuring costs.

• Cash from operations reached USD 6.6 million in Q4; cash and cash equivalents at year-end were USD 14.6 million.

• Net debt increased to USD 5.4 million at year-end, up from net cash of USD 4.8 million in the prior year.

• Order backlog at year-end rose to USD 126.8 million.

Outlook and guidance

• Oil & gas market expected to remain flat or slightly negative into 2026, with regional variations and strong activity in Brazil and Middle East.

• Renewables market remains cyclical with near-term uncertainty, but signs of improvement and diversification into onshore wind, solar, BESS, and interconnectors.

• Maritime segment expected to maintain strong position, supported by global fleet growth.

• Targeting 20% ROCE by 2027, with ongoing cost and efficiency initiatives and continued M&A focus.

• Strategic focus on global client diversification, cost management, and value-creating acquisitions.