Eqva ASA

Earnings Release • Apr 5, 2024

Eqva ASA: Business update - A strong start of the year for Eqva

Eqva ASA: Business update - A strong start of the year for Eqva

5 April 2024: Eqva ASA (OSE: EQVA) has seen a strong start of the year for its Products, Solutions & Renewables segment, with extraordinary strong demand and growth in sales.

Preliminary figures for the first quarter 2024 show operating revenue for this segment alone exceeding NOK 190 million, an increase of 35 per cent compared to the corresponding period in 2023. The EBITDA margin is expected to be in the higher range of the previously communicated targets of 5 to 7 per cent.

The company expects this trend to continue and remains optimistic for the current year and the future.

Further details will be shared when Eqva presents its final report for the first quarter 2024 on 16 May 2024.

M&A update

Eqva has been unable to conclude an agreement with LOS Gruppen (see announcement of letter of intent on 6 December 2023) on terms favourable for Eqva shareholders. The dialogue between the parties about a potential business combination is on hold until further notice.

Other M&A activities are showing good progress.

For more information, please contact:

Erik Høyvik, Chief Executive Officer: +47 916 83 173

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

Even Matre Ellingsen, Chairman of the Board: + 47 990 05 500

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.