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Dato/tid 21.07.2017 07:00
Utsteder Aqualis ASA
UtstederID AQUA
Instrument AQUA
Marked OB
Informasjonspliktig   Informasjonspliktige opplysninger   Lagringspliktig melding
Tittel Aqualis ASA: Q2 2017 financial results
Oslo, Norway - July 21, 2017 

Key highlights 

- Revenues of USD 7.3 million in Q2 2017 vs. USD 8.2 million 
Q2 2016
- Operating profit (EBIT) of USD 0.4 million in Q2 2017 vs. 
loss of USD 0.8 million in Q2 2016
- Billing ratio for technical staff of 83% in Q2 2017, up 
from 78% in Q1 2017
- Profitability measures took effect throughout the quarter
- Activity in offshore wind market remains high and new 
contracts have been secured 
- Positive contribution from ADLER Solar as profitability 
measures are taking effect
- Order backlog at USD 10.3 million vs USD 10.0 million at 
the end of Q1 2017
- Cash balance of USD 8.9 million at the end of Q2 2017
- Continued solid HSE performance and no lost time incidents 
(LTIs) during the quarter

David Wells, CEO of Aqualis ASA said:
"We are delighted that we have been able to deliver a 
profitable quarter and positive figures for Q2 2017 and 1H 
2017. It has been great team effort with many of our 
entities delivering strong performance. The result is 
underpinned by strong operational performance and the 
increased flexibility of our business model.

Our renewable businesses, Offshore Wind Consultants Ltd and 
ADLER Solar GmbH, have both delivered good performance. We 
will continue to identify market opportunities in the 
offshore wind sector to leverage our strong market position, 
brand name, skill base and global network. We expect more 
activity in the offshore wind market driven by increased 
demand as costs continue to fall.

ADLER Solar has taken steps to re-position its services to 
new market segments over the past year and implemented 
profitability measures to improve efficiencies. We are 
pleased that ADLER Solar delivers positive results in Q2 
2017 and that the implemented profitability measures are 
taking effect. The company will need to take further 
measures to improve sales activity and increase the 
proportion of larger projects.

The oil and gas market is still challenging and expected to 
remain so for the rest of 2017. I am confident that we have 
a strong basis on which to continue to improve our business 
and deliver excellent service to our customers" says Mr 
David Wells, CEO of Aqualis ASA.

For further information, please contact:

Investors and financial media;
Kim Boman, CFO, Aqualis ASA
Telephone: +47 959 63 912
Email: kim.boman@aqualis.no

Other media enquiries:
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05, 
Email: endre.johansen@corpcom.no

About Aqualis ASA
Aqualis ASA (OSE: Aqua) is a public company that, through 
its subsidiaries and associates, offers energy consultancy 
services to the global oil and gas, wind and solar sectors. 
The group employs experienced consultants in 21 offices in 
15 countries worldwide. Aqualis ASA operates under three 
different brands: Aqualis Offshore, Offshore Wind 
Consultants and ADLER Solar. Aqualis Offshore is a 
specialized offshore marine and engineering consultancy 
firm, focusing on the shallow and deep-water offshore 
segments of the oil and gas industry. Offshore Wind 
Consultants is a globally focused consultancy providing 
independent services to the offshore renewables industry. 
ADLER Solar is a technical and engineering service provider 
for the global solar industry. Aqualis owns 49.9 percent of 
ADLER Solar.

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