Beerenberg

Earnings Release • Nov 15, 2024

Third Quarter Results 2024

Third Quarter Results 2024

Bergen, November 15th, 2024:

Beerenberg reports 38% revenue growth in Q3 2024 compared to last year. The EBITDA margin ended at 9.0% in the quarter compared to 7.0% in the same quarter last year.

3Q 2024 Financial Highlights:

· Revenue NOK 802 million

· EBITDA NOK 72 million

· EBITDA margin 9.0%

· Order intake NOK 100 million

· Order backlog NOK 9.7 billion

“Another quarter with high demand for our services. It’s a good basis for developing our business in the future” says CEO Arild Apelthun in Beerenberg.

The report will be available at www.beerenberg.com and published on www.newsweb.no.

For further information, please contact:

Harald Haldorsen, CFO

Tel. +47 982 34 834

E-mail: harhal@beerenberg.com

About Beerenberg AS

Beerenberg has delivered cost efficient solutions to a wide range of industrial enterprises for more than 40 years. Beerenberg is one of the leading suppliers of maintenance and modifications services on the Norwegian Continental Shelf as well as a global provider of insulating products. The Group´s expertise covers the entire life cycle of the petroleum industry from field studies and newbuilds to maintenance, modifications, and lifetime extensions. The operational activities are organized in Beerenberg Services and its subsidiaries. Headquartered in Bergen, Beerenberg has offices in Stavanger and Skien in Norway and in Poland, UK, South-Korea, Thailand, and Singapore.

To learn more, please visit www.beerenberg.com