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Moreld AS — Interim / Quarterly Report 2026
May 7, 2026
9347_rns_2026-05-07_4e5abbf3-daee-4172-b8c4-1fe669dd1751.html
Interim / Quarterly Report
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Moreld ASA: First quarter 2026 results
Moreld ASA: First quarter 2026 results
Stavanger, 7 May 2026: In the first quarter, Moreld delivered revenues of NOK
1.4 billion and an EBITDA result of negative NOK 93 million. As projected, the
results reflect a temporary reduction in project activity, and a significant
uptick in activity and margins is expected from Q2. The full-year EBITDA
guidance of NOK 0.7-0.9 billion is reiterated.
Supported by a strong balance sheet and solid cash generation, the board of
directors has resolved to increase the quarterly dividend distributions from
NOK 0.42 to NOK 0.50 per share from Q1 2026.
"Following a softer Q1, both our vessels have now returned to offshore
operations. Moreld is entering a phase of increasing activity supported by
large, confirmed projects and a strong backlog. While global uncertainty
persists, our outlook remains strong, supported by activity on the Norwegian
Continental Shelf and a solid tender pipeline," says CEO Geir Austigard.
Business and market highlights
* Revenue ended at NOK 1.4 billion in Q1, reflecting a temporary reduction in
project activity, in line with previous communication. The adjusted EBITDA
result was negative NOK 93 million
* Order intake of NOK 1.7 billion brings the total contracted backlog to
almost NOK 6.3 billion, of which NOK 4.9 billion for delivery in 2026.
Tender activity remains high, providing a solid foundation for improved
performance
* Moreld Apply awarded the Equinor EMOD/EPRO frame agreement, which
is expected to result in meaningful volumes on the back of major near-field
investments. Organisational changes implemented to match future demand
* Ocean Installer expanded its international footprint by establishing an
office in Brazil, positioning the company for future growth in this
high-potential market
* Balance sheet remains solid with a cash balance of NOK 0.9 billion at the
end of the quarter, giving a leverage ratio of 0.6x
Profit distribution to shareholders
* Dividend of NOK 0.42 per share distributed in February
* Another dividend of NOK 0.50 per share approved by the board to be paid in
May
Report and presentation
Please find the presentation material and earnings report attached.
The reporting material is also available at:
https://www.moreld.com/investor-relations#reports
CEO Geir Austigard, CFO Trond Rosnes and CEO Ocean Installer Kevin Murphy will
present the results at 10:00 am CET. Participants are welcome to join the
event at SpareBank 1 Markets in Olav V's gate 5 in Oslo, or to follow the
event via webcast.
Please use the following link to view the webcast:
https://qcnl.tv/p/b-Ooi-YPevmXo-2Nk6LVDQ
(https://qcnl.tv/p/b-Ooi-YPevmXo-2Nk6LVDQ)
For more information, please contact
CEO Geir Austigard
Telephone: +47 992 47 500
Email: [email protected]
CFO Trond Rosnes
Telephone: +47 404 14 494
Email: [email protected]
About Moreld
Moreld is an industrial multi-disciplinary engineering group offering
full-scope services across the offshore energy and marine industries including
subsea installations. The group comprises Moreld Apply, Ocean Installer and
Global Maritime. Moreld is a major player on the Norwegian continental shelf
with an international footprint. The Group is located in 19 countries, giving
access to all major offshore markets, and has over 2,800 employees and
contractors. For more information, please visit https://moreld.com/.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.