Norway's ABL Group Q1 revenue stable year-on-year

Aqualis ASA

07/05/2026 05:14

Overview

Norway consultancy's Q1 revenue stable yr/yr, down from prior qtr on lower North Sea activity

Adjusted EBIT steady at $3.1 mln, aided by early cost reduction benefits

Company proposes renaming to Aqualis ASA and may seek Euronext Growth Oslo re-listing

Outlook

ABL Group expects improved performance through 2026 as efficiency measures take effect

Company says new contract awards and third vessel will support performance in 2026

ABL Group says market uncertainty continues to impact timing of client decisions

Result Drivers

SEASONAL SLOWDOWN - Revenue fell from the prior qtr mainly due to seasonally lower activity in North Sea Marine Operations in AGR

COST REDUCTIONS - Adjusted EBIT margin was supported by early benefits from cost reduction measures

SLOW ACTIVITY IN AGR AND DELAYED PROJECTS - Slow activity in the AGR segment and delayed commencement of Longitude projects held back overall results

Company press release: ID:nObi0QNlQa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$82.40 mln
Q1 Adjusted EBIT
$3.10 mln
Q1 Operating Profit
$1.60 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil related services and equipment peer group is "buy"

Wall Street's median 12-month price target for ABL Group ASA is NOK13.00, about 15% above its May 6 closing price of NOK11.30

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 8 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)