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Bergen Group ASA : Interim Report for Q2 2015

Bergen Group's continuing operations in Q2 2015 generated revenues of NOK 46
million after intercompany eliminations and an operating loss before
depreciation (EBITDA) of NOK 8 million. In the 1sthalf year of 2015 the
continuing operations generated revenues totaling NOK 116 million and
suffered a loss before depreciation and amortization (EBITDA) of NOK 6

Profitability has not been satisfactory in the first half year of 2015. This
is mainly due to a weaker market in the oil and gas sector, a temporary lower
activity towards the Norwegian defense and weak profits in Bergen Group
Skarveland AS.

Following the sale of Bergen Group ASA's properties and operations on
Hanøytangen 19 May 2015, the Group's remaining operational activities are
related to the Services segment consisting of Bergen Group Services AS and
Bergen Group Skarveland AS. These companies had 30 June an order backlog
totaling NOK 178 million. This is considered as a good platform to further
develop and enhance a profitable operation.

Bergen Group Hanøytangen is experiencing a strained liquidity situation due to
lack of payments from the rig project Borgland Dolphin completed in Q1 2015.
A process is consequently initiated before the Arbitration Tribunal. The
claim is approximately NOK 190 million, and the dispute will be processed by
the Arbitration Court in Q2 2016.

Reference is made for further details to the attached interim report for Q2.

Contact persons:
CEO Hans Petter Eikeland, tel. 932 08 177
CFO Nils Hoff (finance), tel. 930 92 346
SVP Corporate Functions&Communications Øyvind Risnes, phone +47 480 48 561

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

Bergen Group interim report Q2_2015


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: Bergen Group via Globenewswire


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