Completion of acquisition of Marcon-Gruppeni Sverige AB
Completion of acquisition of Artec Aqua AS
Successful placement of NOK 1100 million senior secured bond loan
Q1 2021 a transformational quarter for Endúr
Completion of two major acquisitions
Bankruptcies declared in two loss-making entities (ØPD and Endúr Industrier)
Complete refinancing of the new Group's interest bearing debt
New executive management onboarded
Highlights; operational
Adjusted proforma EBITDA of NOK 21.6 million in Q1 2021
Q1 is always the quarter with the seasonally lowest activity level for marine infrastructure
BMO Entrepenør has however had a historically strong Q1 both in terms of EBITDA and order intake
Swedish winter has been unusually cold, with frozen waterways and ice packed harbours even far south
causing delays for both ongoing and new projects
Artec Aqua's activities in the quarter has been marked by tail-end activities on two major projects, and start-up preparations for two new major projects, as planned
will have higher activity levels in coming quarters
Artec Aqua's services remain in very high demand
Order backlog of NOK 2.5 billion at end of Q1 2021
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Q1 2021 - Proforma key financials, actual order backlog
Pro forma figures; calculated assuming the acquisitions of BMO Entrep., Artec Aqua and Marcon were undertaken on 1 January 2020, and similarly, that the bankruptcies in Endúr Industrier AS and ØPD
AS occurred on that same date.
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Endur ASA published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 07:44:02 UTC.
Endur ASA, formerly Bergen Group ASA is a Norway-based supplier of construction and maintenance projects. The Company delivers also services, and solutions for marine infrastructure, including facilities for land-based aquaculture, quays, harbors, dams, bridges and other specialized concrete and steel projects. Endur ASA consists of three reportable segments: Marine Infrastructure, that consists of Installit AS, among others, an engineering and technology company providing project management and engineering services within subsea cable installation and marine operations for the marine and renewables industries; Aquaculture Solutions that consists of Endur Sjosterk AS, among others, that manufactures floating concrete structures largely by way of feed barges for the aquaculture industry, and Other, that comprises Endur Maritime AS, Endur AAK AS and Endur ASA.