Eqva ASA

Earnings Release • May 16, 2024

EQVA ASA: BKS Secures New Contract for Norsk Hydro at Husnes

EQVA ASA: BKS Secures New Contract for Norsk Hydro at Husnes

Sunde, 16 May 2024: EQVA ASA's subsidiary BKS Industri (BKS) has once again demonstrated its competitiveness by securing a new contract for Norsk Hydro. The contract is valued at approximately NOK 53 million, with work to be completed in Q3 2025.

The contract encompasses phase 2 of the furnace upgrade at Norsk Hydro's aluminum plant in Husnes, Sunnhordland. In phase 2, 120 furnaces will be upgraded to become more energy efficient. BKS has performed similar work in phase 1, upgrading 80 furnaces in Hall A.

This project is one of many similar assignments that EQVA and BKS carry out for customers within land-based and energy-intensive industries. High energy prices, stricter regulatory requirements, and society's expectations for even more climate- and environmentally friendly metal production make such upgrade projects highly relevant.

“With the planned upgrade at Husnes, Norsk Hydro confirms its ambition to be a leading producer of sustainable aluminum, as well as its position as an industrial locomotive with the willingness and ability to invest in Norway. We are grateful and proud of the trust shown to us by being awarded this contract,” says Managing Director Trygve Kjerpeseth of BKS.

“Our collaboration with Norsk Hydro spans several decades. Hydro is a cornerstone company in Husnes and contributes significantly to the local supplier industry. It is gratifying to have it confirmed once again that a local company like BKS and our skilled employees are competitive and attractive,” says Kjerpeseth.

BKS is part of EQVA's business area Products, Solutions & Renewables. The contract will be recorded as an order intake in Q2 2024.

For more information, please contact:

Even Matre Ellingsen, Chief Executive Officer of EQVA: + 47 990 05 500

Petter Sørdahl, Chief Financial Officer of EQVA: +47 917 56 147

Trygve Kjerpeseth, Managing Director of BKS: +47 900 79 956

EQVA ASA in brief

EQVA ASA is a knowledge-based active owner of engineering, construction and service companies that contribute to the green transition in maritime, power intensive and renewable industries.

The group has a well-diversified product and market portfolio, and further growth will be established through a combination of company-based development, utilization of synergies between the companies in the group as well as value-creating M&A activities.

Key companies in the group are BKS and Fossberg Kraft, each building on decades of experience and widely recognized by clients in a broad range of industries.

Read more on www.eqva.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.