Endúr ASA – Q4 and interim full-year 2024 financial results

10 Feb 2025 07:00 CET

10 February 2025 – Endúr ASA (“Endúr”) delivered an operationally and
financially strong quarter in last year’s fourth quarter.

Endúr delivered record-high revenues of NOK 775 million in the fourth quarter
last year, an 18 percent increase from the corresponding period in 2023 (Q4
2023: NOK 658.9 million). EBITA was NOK 61.3 million (Q4 2023: NOK 38.7
million), equivalent to a margin of 7.9 percent (Q4 2023: 5.9 percent).

Revenues and results were positively impacted by considerably improved
performance in the Aquaculture Solutions segment, while Endúr’s Infrastructure
segment ended the year with double-digit growth and EBITA margin on LTM basis.
Endúr Maritime also delivered solid performance in the quarter.

“2024 was a year of solid results overall and we are very pleased to end the
year on a high note. The fourth quarter showed progress on practically all key
financial metrics”, says Jeppe Raaholt, CEO of Endúr.

Cash flow from operating activities ended at NOK 240.5 million in last year’s
fourth quarter (Q4 2023: NOK 54.7 million), with a net cash flow of NOK 123.6
million (Q4 2023: NOK 16.9 million), after a substantially reduced tie up in
NWC.

Endúr’s order backlog stood at a healthy NOK 3,298 million at year-end (Q4 2023:
NOK 1,852 million), after order intake of NOK 352 million (Q4 2023: NOK 286
million) in the fourth quarter. Contingent awards of NOK 2,560 million are not
included in the firm backlog.

OUTLOOK
In the Infrastructure segment, organic growth is expected to increase in 2025
due to an attractive revenue backlog coverage, recruiting, and a strong outlook
and tender pipeline within all segment niches.

Within Aquaculture Solutions, the long-term outlook for land-based fish farming
remains attractive. Endúr’s revenues and results are expected to grow throughout
2025, as the construction of Salmon Evolution phase 2 progresses.

PRESENTATION AT 08:00 TODAY
Endúr invites investors, analysts and media to a live webcast presentation of
the company’s fourth quarter and interim full-year 2024 financial results, today
at 08:00 CET.

The webcast presentation can be viewed from this URL:

https://my.demio.com/ref/GXqvjoTDF9JOpbam

The presentation material is enclosed to this announcement.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Einar Olsen, CFO of Endúr ASA, on 10 February 2025
at 07:00 CET.

(ENDS)

For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance
projects and services for marine infrastructure, including facilities for
land-based aquaculture, quays, harbours, dams, bridges and other specialised
concrete and steel projects. The company and its subsidiaries also offer a wide
range of other specialised project and marine services. See www.endur.no.

More information:
Access the news on Oslo Bors NewsWeb site

638088_Endúr ASA Q4'24 Quarterly Presentation.pdf