Aqualis ASA: Q3 2026 financial results
29 October 2026 - Aqualis's 2026 third quarter results
HIGHLIGHTS Q3 2026
- Revenues of USD 83.8 million (Q2 26: USD 90.8 million) - Operating profit of USD 4.3 million (Q2 26: USD 4.4 million) - Adjusted EBIT of USD 5.0 million (Q2 26: USD 5.3 million) - Net debt of USD 21.7 million (Q2 26: USD 20.4 million) - Semi-annual dividend of NOK 0.45 per share declared
Hege Norheim, CEO of Aqualis ASA (the "Company", and together with its subsidiaries, the "Group" or "Aqualis") commented:
"This quarter marks my first anniversary as CEO of Aqualis. Over the past year, I have gained a deep appreciation for the quality of the company and, above all, for our hard-working and ambitious teams around the world.
Q3 demonstrates the progress we are making in flexing to market conditions as well as productivity, which is now showing in profitability. The adjusted EBIT margin of 5.9% is the highest level we have delivered since 2023, reflecting the measures we have implemented over the last year and the continued focus across the organisation on improving performance.
From a segment perspective, ABL maintained a strong performance in a seasonally weaker quarter, with particularly good delivery in the European and the Middle East regions. AGR increased adjusted EBIT despite the reduction in revenue, supported by a flexible cost base and continued strong performance from the wells business in Australia. OWC delivered improved revenue and profitability, while Longitude continued to grow and benefited from the addition of SynergenOG.
We continue to invest in Aqualis through our Group Investment Programmes, which are focused on improving productivity, developing new services, and expanding our capabilities into new sectors and geographies. These Programmes, which we expect to continue through 2027, are key steps to achieving our ambition of a 20% ROCE. In Q3 we expensed USD 1.1 million associated with these Programmes, whilst still increasing EBIT margin in the quarter.
Looking ahead, our outlook remains positive through the remainder of 2026 and into 2027, although energy-market volatility, inflation and elevated financing costs continue to delay some client decisions. Offshore oil and gas and maritime markets provide a relatively stable demand base, while we see selective progress in offshore wind and renewables."
A presentation of the quarterly results will be held today at 08:30 CET at SpareBank 1 Markets' office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after. To watch the webcast, please visit Aqualis's website, www.aqualis-group.com.
The quarterly earnings release and a corresponding slide presentation is available on www.newsweb.no and on Aqualis's web site, www.aqualis-group.com
ENDS
For further information, please contact:
Investors and financial media: Stuart Jackson, Chief Financial Officer, Aqualis ASA Email: stuart.jackson@aqualis-group.com
Other media enquiries: Endre Johansen, Corporate Communications AS Telephone: +47 41 61 06 05 Email: endre.johansen@corpcom.no
About Aqualis Aqualis (OSE: Aqualis ASA - ticker code "AQUA") is a leading independent global consultancy delivering energy, marine, engineering and digital solutions to drive safety and sustainability in renewables, maritime and oil and gas sectors. The group has offices in 44 countries worldwide and operates under four main brands: ABL, OWC, Longitude and AGR.