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2016-02-18

Aqualis ASA: Q4 2015 financial results

Oslo, Norway - February 18, 2016:

Key highlights
* Completion of the acquisition of 49.9% ownership in ADLER Solar
* Revenues of USD 8.8 million in Q4 2015 vs USD 10.6 million in Q4 2014
* Operating loss (EBIT) of USD 1.1 million in Q4 2015 vs EBIT loss USD 0.8
million in Q4 2014
* Adjusted EBIT loss of USD 0.6 million in Q4 2015
* Operations impacted by lower activity level in the oil and gas market
* Order back-log of USD 10.7 million vs USD 20.0 million a year earlier
* Closing cash balance of USD 14.9 million vs USD 18.6 million a quarter
earlier
* Rationalisation of engineering departments in Dubai, Houston and the office
in Brazil to align capacity to changes in market conditions
* Continued solid HSE performance, no lost time incidents during the quarter
* 220 employees at year end 2015 vs 236 employees a quarter earlier

David Wells, CEO of Aqualis ASA said:

"We are pleased with completing the acquisition of ADLER Solar and thereby
expanding and strengthening our energy consultancy business in the renewable
industry. Aqualis' Q4 2015 results have been impacted by softer market
conditions in the oil and gas market, early terminations of ongoing projects
and a strengthening USD"

For more information, please see the attached fourth quarter 2015 report.
A presentation is scheduled the same day at 8:00 am CET at Swedbank's office at Filipstad Brygge 1, Oslo, Norway. The presentation, held in English, will be webcasted live and available for replay shortly after.
To watch the webcast over the internet, please visit Aqualis' web site, www.aqualis.no, at least 10 minutes early to to download and install any necessary software.
The earnings release concerning the fourth quarter 2015 results and a corresponding slide presentation will be posted on www.newsweb.no and on Aqualis' web site www.aqualis.no.
For further information, please contact:

Investors and financial media;
Kim Boman, CFO, Aqualis ASA
Telephone: +47 959 63 912
Email: kim.boman@aqualis.no

Other media enquiries:
Endre Johansen, Corporate Communications AS
Telephone: +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 energy consultancy services to the global oil and gas, wind and solar
sectors. The group employs experienced consultants in 22 offices in 15
countries worldwide. Aqualis ASA operates under three different brands:
Aqualis Offshore, Offshore Wind Consultants and ADLER Solar. 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. ADLER Solar is a
technical and engineering service provider for the global solar industry.
Aqualis owns 49.9 percent of ADLER Solar.

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

Q4 presentation
http://hugin.info/162549/R/1987074/729249.pdf
Q4 report
http://hugin.info/162549/R/1987074/729226.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

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