Argeo AS

Earnings Release • May 15, 2025

Argeo ASA: First quarter 2025 results

Argeo ASA: First quarter 2025 results

Asker, 15.05.2025 Revenue for Q1 amounted to USD 11.5 million, marking an increase of 21% year-over-year (YoY). EBITDA amounted to USD -0.2 million, alongside an EBIT of USD -2.0 million. Net loss for the quarter was USD 4.2 million.

Key Q1 2025 highlights include:

All amounts in USD million (Q1 2024 in brackets)

Revenue: 11.5 (9.5)

EBITDA: -0.2 (2.9)

EBIT: -2.0 (1.1)

Net profit (Loss): -4.2 (1.9)

Total expected backlog: USD 164 million

The presentation and financial report for Q1 2025 are enclosed.

For more information, please contact:

Jan P. Grimnes, Executive Chair

Email: jan.grimnes@argeo.no

Phone: +47 982 30 332

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 Odd Erik Rudshaug, CFO & Interim CEO at Argeo ASA, on 15 May 2025 at 07.00 CEST.

About Argeo ASA

Argeo is a comprehensive subsea service provider, operating across three major

sectors: Oil & Gas, Marine Minerals, and Renewables. The Company offers a unique

package that integrates robust vessels, state-of-the-art autonomous underwater

vehicles (AUVs), advanced sensors, digital imaging technology, and an intuitive

digital platform designed to collect and visualize complex data. 

With their own vessels and high-performance AUVs, Argeo delivers fast and

flexible full-lifecycle services, including survey, inspection, maintenance, and

repair, aimed at improving efficiency and reducing the carbon footprint for

global, industry-leading clients. 

Argeo has established offices in Asker (Oslo), Edinburgh, Houston, and Rio de Janeiro. 

The Company is listed on Euronext Oslo Børs under the ticker: ARGEO. Please

visit www.argeo.no for more information.