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Dato/tid 26.10.2017 07:00
Utsteder Aqualis ASA
UtstederID AQUA
Instrument AQUA
Marked OB
Informasjonspliktig   Informasjonspliktige opplysninger   Lagringspliktig melding
Tittel 2017 Q3 financial results
Oslo, Norway - October 26, 2017 

Key highlights 

-	Revenues of USD 7.3 million in Q3 2017 vs. USD 6.4 
million Q3 2016
-	High activity level maintained in a traditionally 
weak quarter
-	Operating profit (EBIT) of USD 0.1 million in Q3 
2017 vs. loss of USD 0.7 million in Q3 2016
-	Billing ratio for technical staff of 83% in Q3 2017, 
on same level as in Q2 2017
-	Improved cash balance of USD 9.8 million at the end 
of Q3 2017
-	Order backlog of USD 8.5 million at the end of Q3 
2017 vs USD 10.3 million at the end of Q2 2017
-	Activity in offshore wind market still remains high 
and new contracts have been secured 
-	ADLER Solar increasing the bidding activity, but 
sales taking longer time to close
-	Continued solid HSE performance and no lost time 
incidents (LTIs) during the quarter

David Wells, CEO of Aqualis ASA said:

"I am pleased that we, in challenging market conditions in 
the oil and gas sector, have achieved three consecutive 
quarters of positive operating profit. Most of our entities 
have delivered robust results underpinned by strong 
operational performance and important client wins. 

The offshore wind sector remains active and highly 
competitive. We continue to leverage our growing reputation 
to strengthen our market position. We have managed to widen 
our global operations and won recently our first contract in 
the US market.

ADLER Solar has increased the bidding activity over the past 
months, but sales have taken longer time to close as the 
company is focusing on larger projects with longer lead 
times. The results are expected to improve in Q4 2017 and 
additional profitability measures have been and are being 
implemented to improve profitability.

There are indications that the oil and gas market may have 
bottomed out, but we still expect market conditions to 
remain challenging in 2017 and 2018. We have set up a good 
platform from which to rebuild, strengthen our business 
model and deliver excellent service to our customers" says 
Mr. David Wells, CEO of Aqualis ASA." 

For more information, please see the attached third quarter 
2017 report.

Morning program:
A presentation is scheduled the same day at 8:00 am CET at 
Kepler Cheuvreux / Swedbank's office at Filipstad Brygge 1, 
0120 Oslo, Norway.

The presentation, held in English, will be webcasted live 
and available for replay shortly after. To watch the webcast 
over the internet, please visit Aqualis' web site, 
www.aqualis.no, at least 10 minutes early to download and 
install any necessary software.

The earnings release concerning the third quarter 2017 
results and a corresponding slide presentation will be 
posted on www.newsweb.no and on Aqualis' web site 

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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