ABL Group (ABL) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue reached USD 96.1 million, a 40% year-on-year increase, driven by acquisitions and organic growth across all segments.

• Adjusted EBIT rose to USD 3.5 million, up 25% from Q2 2024, with a margin of 3.6%, though EBIT margin declined slightly due to segment mix and new acquisitions.

• Net loss after taxes was USD -3.4 million in Q2 2025, impacted by a significant net currency loss of USD 4.4 million.

• Integration of Ross Offshore, Proper Marine, and Techconsult contributed significantly to revenue, staff growth, and technical capabilities.

• Operational efficiency programs have been expanded across the group, focusing on cost reduction and improved utilization.

Financial highlights

• Revenue increased to USD 96.1 million from USD 68.6 million in Q2 2024, with acquisitions contributing USD 24.3 million.

• Adjusted EBIT margin slightly decreased to 3.6% from 4.0% year-over-year.

• Net cash position declined to USD 1.0 million, mainly due to dividend payments and acquisition costs.

• Cash flow from operations was positive at USD 4.2 million, with a closing cash balance of USD 18.8 million.

• Order backlog increased to USD 119.6 million at quarter-end.

Outlook and guidance

• Efficiency measures are expected to yield more significant benefits in 2026, with limited impact in 2025 due to implementation costs.

• The board intends to declare a further semi-annual dividend of NOK 0.45 per share in Q3, subject to approval.

• Management remains focused on both growth (organic and M&A) and margin improvement, with ongoing efficiency drives across all segments.

• Market volatility in renewables and oil & gas is expected to persist, requiring continued operational flexibility.

• OWC is diversifying into onshore wind, solar, and energy storage, now representing 20% of hours billed in Q2 2025.