Norway · Delayed Price · Currency is NOK Aqualis ASA Earnings Call Transcripts
Fiscal Year 2026
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Adjusted EBIT margin reached 5.9%, the highest profitability level since 2023, despite lower revenue. Priorities include productivity investment, working-capital improvement, and a 20% ROCE ambition for 2027; Norwegian softness and Middle East conflict remain risks.
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Revenue grew 10% sequentially to $90.8M, with adjusted EBIT margin rising to 5.8%. All segments improved profitability, led by ABL and Longitude, while net debt increased to $20.4M. Outlook remains positive through 2027, despite market volatility and inflationary pressures.
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Revenue and profitability declined in Q1 2026 due to seasonal and conflict-related impacts, but cost controls and efficiency initiatives kept margins stable. ABL segment remained resilient, while AGR and Longitude faced headwinds; positive outlook maintained for 2026–2027.
Fiscal Year 2025
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Revenue grew 3% year-over-year in Q4, with improved EBIT and strong ABL segment margins. Efficiency and cost reduction remain priorities amid mixed market outlooks, while dividend and M&A activity continue. Targeting 20% ROCE by 2027.
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Q3 saw 2% revenue growth to $87.8M and a rise in EBIT margin to 4.2%, with strong ABL segment performance and continued M&A activity. Market alignment and efficiency plans are underway, with a flat outlook for 2026 in core markets and a NOK 0.45 dividend declared.
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Q2 revenue hit a record $96M, up 40% year-on-year, driven by acquisitions and organic growth. EBIT improved to $3.5M, but margins declined slightly due to segment mix. Efficiency programs and cost controls are being expanded, with further benefits expected in 2026.
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Q1 2025 saw revenue growth from acquisitions, but EBIT and margins declined year-over-year due to industry headwinds. Management remains confident, proposing a 12.5% dividend increase and focusing on diversification and cost control amid ongoing market volatility.
Fiscal Year 2024
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Q4 2024 saw revenue rise 27% year-over-year, mainly from acquisitions, with EBIT at $3.1 million and a 3.6% margin. Cost actions and restructuring are expected to improve margins in 2025, and the dividend is set to increase, reflecting confidence in the outlook.
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Q3 revenue rose 23% year-over-year to $86.2 million, mainly from the Ross Offshore acquisition, while EBIT margin fell to 3.4% due to lower utilization and higher costs. OWC remains weak but shows early recovery signs, and a NOK 0.40 dividend was declared.
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Q2 saw flat revenue and a sharp margin squeeze, with renewables, especially offshore wind, underperforming and dragging down group results. Management is implementing cost controls and diversifying within renewables, while oil and gas remains strong.