29 April 2022 – Endúr ASA has today published its annual report for 2021.
The annual report, as approved by the company’s Board of Directors, is enclosed with this announcement and also available on the company’s website: https://endur.no/investor-relations/financial-reports/
There are certain deviations, between the full-year 2021 interim unaudited results that were published on 25 February 2022 and the annual results that are published today. These changes, in total, strengthen Endúr’s result after tax for 2021 with NOK 17 million, from NOK -69 million to NOK -52 million, and subsequently increases the group’s equity ratio by 1.1% to 35.8% as of 31 December 2021. See further explanation of the two main changes below:
- Negative tax expense (tax revenue) is NOK 45.1 million in Q4 2021, versus the NOK 6.1 million reported in the interim Q4/full-year 2021 interim results, due to capitalization of the total deferred tax asset in the group. Following the acquisitions of BMO Entreprenør AS and Artec Aqua AS, companies earning positive taxable profits, the Group’s year-end tax calculation has determined that Endúr is justified in recognizing 100% of its deferred tax asset.
- Depreciation, amortisation and impairment is NOK 142 million in 2021 versus NOK 120.6 million reported in the full-year interim results. The difference is the result of (i) a goodwill impairment of NOK 22.8 million following the sale of Installit AS and its subsidiaries, as announced on 7 April 2022; and (ii) a NOK 1 million reversed amortization in Marcon following end-of-year IFRS adjustment of goodwill.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
For further information, please contact:
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759
Lasse B. Kjelsås, CFO of Endúr, tel: +47 908 49 772
About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialised concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialised project and marine services. Endúr ASA is headquartered in Bergen, Norway. See www.endur.no