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2015-04-28

Aqualis ASA : Q1 2015 financial results

28 April 2015 - Marine and offshore engineering consultancy group Aqualis ASA
(Aqualis) reported revenues of USD 11.4 million in the first quarter of 2015,
a 148 % increase from the corresponding quarter in 2014. Operating profit
(EBIT) ended at USD 0.6 million, up from negative USD 0.5 million in Q1 2014.

"All in all we delivered satisfactory results in the quarter. I am
particularly pleased that we are managing to offset the uncertainty in the
oil and gas market through gaining more market share" says David Wells, CEO
of Aqualis ASA.

Operating revenues were USD 11.4 million in the first quarter 2015 (Q1 2014:
USD 4.6 million). Earnings before interest and tax (EBIT) was USD 0.6 million
(USD -0.5 million). Profit after tax was positive at USD 1.4 million (USD
-0.5 million), including unrealised foreign exchange gain of approx. USD 1
million.

Aqualis' order backlog from fixed contracts stood at USD 17.1 million at the
end of the quarter. The backlog does not include future call-offs from
existing framework contracts for services such as dynamic positioning, rig
moving and marine warranty.

"In addition, the UK government recently announced new subsidies which seems
to have re-energised the renewables sector. We therefore expect to secure
more work and continue to deliver growth in this segment," says David Wells,
who is planning to open three new offices in the next couple of months.

"A continued network expansion will provide access to additional
opportunities, thereby making us less vulnerable to fluctuations in specific
oil and gas regions as our staff can cooperate on projects across different
markets," adds David Wells.

Today, Aqualis has 13 offices in 10 countries worldwide. Three more offices
will be added in the coming months. As per 31 March, Aqualis had 222 full
time equivalent employees - an increase of 13 percent from the end of the
previous quarter.

Please find enclosed the interim report for the first quarter or
seewww.newsweb.no

ENDS

For further information, please contact:

Investors

Christian Opsahl, CFO, tel: +47 901 101 53, email:christian.opsahl@aqualis.no.

Media

Endre Johansen, Corporate Communications AS, tel: +47 41 61 06 05,
email:endre.johansen@corpcom.no.

About Aqualis ASA

Aqualis ASA (OSE: Aqua) is a public company that, through its subsidiaries,
offers marine and engineering consultancy services to the offshore oil, gas
and renewable sectors globally. The group employs 222 experienced consultants
across 13 offices in 10 countries worldwide. Aqualis ASA operates under two
different brands: Aqualis Offshore and Offshore Wind Consultants. Aqualis
Offshore is a specialized offshore marine and engineering consultancy firm,
focusing on the shallow and deep-water offshore segments of the oil and gas
industry. Offshore Wind Consultants is a globally focused consultancy
providing independent services to the offshore renewables industry.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Aqualis ASA - Q1 2015 presentation
http://hugin.info/162549/R/1915303/684564.pdf
Aqualis ASA - Q1 2015 report
http://hugin.info/162549/R/1915303/684625.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aqualis ASA via Globenewswire

HUG#1915303

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