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Edge1 May 2026
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ABL Group
ABL Group (ABL) investor relations material
ABL Group Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 May, 2026
Executive summary
Q1 2026 revenue was USD 82.4 million, down 7% sequentially from Q4 2025, mainly due to seasonal weakness in AGR's North Sea marine operations and project delays in Longitude.
Adjusted EBIT was USD 3.1 million (3.7% margin), stable versus Q4, reflecting early benefits from cost reductions and aided by a USD 1.1 million non-cash provision release.
Net profit after tax was USD 1.7 million, a turnaround from a USD 9.1 million loss in Q4 2025.
Net debt increased to USD 12.0 million due to negative cash flow from restructuring, seasonal working capital movements, and cash collection issues in the Middle East.
A semi-annual dividend of NOK 0.45 per share (USD 6.4 million) is proposed, representing an 11.3% increase over H1 2025.
Financial highlights
Revenue for Q1 2026 was USD 82.4 million, down from USD 88.7 million in Q4 2025; operating costs decreased 9% QoQ, aided by a USD 1.1 million one-off provision release.
Adjusted EBIT margin was 3.7%, with adjusted EBITDA at USD 4.4 million.
Net cash outflow from operations was NOK 4.5 million, mainly due to working capital buildup and restructuring costs.
Net debt increased to USD 12.0 million, with a closing cash balance of USD 12.1 million.
Working capital ratio rose to 49% from 39% in Q4 2025.
Outlook and guidance
Positive outlook for 2026 and 2027, expecting improved performance from cost and efficiency initiatives and new contract awards.
Ongoing and new conflicts maintain energy market volatility, delaying client decisions and offshore activity.
Targeting 20% ROCE by 2027, with a phased roadmap including local market agility and efficiency investments.
Group aims for a through-cycle EBIT margin of 6.5% as markets recover.
Rationale for re-listing to Euronext Growth Oslo
Impact of bad debt provisions in Mexico on ABL
Factors behind the OWC exit from the US market
Drivers of the Q1 net debt increase
Rationale for renaming parent to Aqualis ASA
Longitude project delay impact on Q1 results
ASK Holdings regulation impact on relisting
Longitude project award vs commencement delays
Cash collection impact from Middle East conflict
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Latest events from ABL Group
- Q4 2025 revenue up 3% to USD 88.7m, but operating loss and goodwill impairment impacted results.ABL
Q4 202526 Feb 2026 - Q1 2025 revenue up 19% on acquisitions, margin down, dividend up 12.5% amid market volatility.ABLQ1 202524 Feb 2026
- Revenue up 23% to USD 86.2m, EBIT margin at 3.4%, offshore wind remains weak.ABLQ3 202424 Feb 2026
- Flat revenue, lower margins, and renewables weakness offset by AGR growth and Ross Offshore deal.ABLQ2 202423 Jan 2026
- Q4 revenue up 27% YoY to USD 85.9m, but margins fell amid integration and renewables headwinds.ABLQ4 202424 Dec 2025
- Q2 2025 revenue up 40% year-on-year, with higher adjusted EBIT but a net loss from currency impacts.ABLQ2 202523 Nov 2025
- Revenue and adjusted EBIT rose, ABL segment excelled, and a NOK 0.45 dividend was declared.ABLQ3 202531 Oct 2025
- Tenfold revenue growth since 2018, driven by acquisitions and diversified global services.ABLPareto Securities' 32nd Annual Energy Conference Presentation11 Sep 2025
- Revenue up 11x since 2017, with global expansion and strong long-term renewables outlook.ABLPareto Securities' 31st annual Energy Conference Presentation13 Jun 2025
Next ABL Group earnings date
Q2 202620 Aug, 2026
ABL Group
Next ABL Group earnings date
Q2 202620 Aug, 2026
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