Endúr ASA had in Q3 2019 a total turnover of NOK 107 million and a positive operating profit before depreciation and amortization (EBITDA) of NOK 5 million. The order book has been strengthened to NOK 920 million during the quarter.
So far this year, the industrial group based in the western part of Norway has generated revenues of NOK 372 million, a solid tripling of activity compared to the same period last year. The EBITDA of NOK 23 million year-to-date confirms that the Group has achieved strong growth as well as increased profitability. The Group’s order backlog is NOK 920 million by end of Q3.
“We are very pleased with the positive development we have had so far this year, and the basis for increasing both sales and earnings in the coming quarters has definitely been strengthened. The Group’s platform has been further strengthened during the quarter!”, summarizes CEO Hans Petter Eikeland. Among other things, he refers to the recently concluded framework contract with the Armed Forces, which is estimated to have a value of NOK 750 million distributed over four contract years and a further three option years.
The CEO also points to the Energy segment, which is considered to have great potential for improvement and growth in relation to the current level of activity.
“Endúr Energy Solutions is in the process of turning its activities towards deliveries of complete designs and installation solutions. Furthermore, there is a strong focus on further developing the existing framework agreements. In sum, we are confident that this will generate results in regards to both increased activity and increased profitability in this segment”, says Eikeland.
Endùr ASA maintains its focus on both organic and structural growth. In this context, it will also be explored a strengthening of the group financing by issuing a senior secured bond.
CEO Hans Petter Eikeland, phone +47 932 08 177
CFO Morten Riiser, phone +47 406 39 734