NRC Group — Interim / Quarterly Report 2015

Feb 29, 2016

REPORT FOR FOURTH QUARTER 2015

REPORT FOR FOURTH QUARTER 2015

HIGHLIGHTS

- Acquisition and closing of Segermo Entreprenad AB,

Litz Entreprenad AB and Elektrobyggnad AB. The

acquisitions will further strengthen the company's

competitive position within the railway sector

- Private placement of NOK 185 million and subsequent

offering of NOK 15 million successfully completed

- Øivind Horpestad appointed as NRC Group CEO from 1

March 2016

- Dag Fladby appointed as NRC Group CFO from 1 March

2016

- Helge Midttun appointed as new Chairman of the Board

of Directors

MAJOR CONTRACT AWARDS

- Record high order backlog of NOK 1 443 million, of

which NOK 1 255 million in the Rail division

(Pro forma order backlog 2014 of NOK 378 million)

- Rail - SEK 37 million contract awarded by

Trafikverket

- Rail - NOK 55 million contract awarded by

Jernbaneverket

- Rail - NOK 40 million frame agreement awarded by

Jernbaneverket

- Geo - 3-year contract signed with TomTom for

production of 3D models worldwide

KEY FIGURES Q4 2015*

- Revenue NOK 473 million (NOK 350 million)

- Adjusted EBITDA NOK 37 million (NOK 38 million)

- Adjusted EBIT NOK 28 million (NOK 30 million)

- Adjusted EBT NOK 27 million (NOK 30 million)

- Actual reported net profit / loss NOK 26 million

(NOK 3 million)

* The key figures above include pro forma figures for

Litz, Elektrobyggnad and Segermo for the fourth

quarter 2015, adjusted for transaction costs.

COMMENTS ON FOURTH QUARTER 2015

During the 4th quarter, NRC Group established itself

as a significant player in the Nordic rail market. The

company closed the acquisitions of three Swedish rail

companies securing additional expertise and capacities

within the company's core focus area.

In November, the company closed the acquisition of the

Swedish

Litz Entreprenad AB, a certified specialist in all

railway-related electric services.

At the same time, the company closed the acquisition

of Swedish Elektrobyggnad AB, one of Sweden's largest

specialized businesses within rail contact line. The

two companies have a strong market position in the

eastern and western parts of Sweden, and will

complement NRC Group's Swedish subsidiary SJT. As

track and project management specialist SJT is now

also able to deliver full-scale projects based on in-

house competences.

In December, NRC Group acquired the Swedish rail

groundwork contractor Segermo Entreprenad AB. NRC

Group is now a fully integrated rail infrastructure

contractor covering the Norwegian and Swedish markets.

Following the acquisitions of the Swedish rail

companies, NRC Group has won several large contracts

and has managed to build a record high order book.

In December, the company raised a total of NOK 200

million through a private placement and a subsequent

offering. This gives the company a solid foundation

for further development and growth.

The political agendas and government budgets continue

to signal that there will be strong growth in

infrastructure projects. Now positioned as one of the

leading players in the Nordic market, we expect to be

an active and valuable contractor in a broad range of

railway infrastructure projects in the time to come.

The financial report and the presentation document

will be made available under the company's

ticker "NRC" on www.newsweb.no and on the company's

homepage: www.nrcgroup.no

ABOUT NRC GROUP ASA

NRC Group ASA is a leading company within the Nordic

infrastructure market. The group operates within two

business segments, Rail and Geo.

Rail: The Rail division is a fully integrated rail

infrastructure contractor covering the Norwegian and

Swedish markets. The Rail division is a full-range

supplier for the construction of all types of rails

including train, tram and subway. Main service

offerings include groundwork, specialized track work,

power supply and signalling work. The Rail division

has all the necessary approvals to work within the

train, tram and subway segments.

Geo: The Geo division operates within acquisition,

processing and modelling of geographic information.

The Geo division holds right to several European

databases with collections of maps, images and models.

With particular focus on online services, data and

solutions are provided to customers in government,

business and consumer markets. The Geo division

supplies a wide range of mapping and geographic

services that satisfy various standards and

specifications, in addition to customized client

solutions.

For further information, please contact: Helge

Midttun, Chairman of the Board, mobile: (+47) 913 35

790

This information is subject of the disclosure

requirements pursuant to section 5-12 of the Norwegian

Securities Trading Act