(Oslo, Norway, 17 August 2023) Arribatec Group ASA (OSE:ARR, Arribatec) today
reported revenues of NOK 148.2 million in the second quarter of 2023, up 23%
from NOK 120.2 million in the corresponding quarter last year.  EBITDA for the
quarter was NOK 8.4 million (-11.5), an improvement of NOK 19.9 million compared
to Q2 2022. The company has secured several important contracts during the
latest months and expects the development to continue.
 
"We are pleased to report another quarter with record strong organic growth and
an EBITDA improvement of NOK 19.9 million compared to a year ago. The solid
development proves that we have been able to keep operating cost low while
growing faster organically, as we are delivering on our strategy," says Geir
Johansen, CEO of Arribatec.

Arribatec reported revenues of NOK 148.2 million (120.2) in the second quarter
of 2023 and a positive EBITDA of NOK 8.4 million (-11.5). The reported EBIT
ended at a negative NOK 4.2 million (-24.8), with recognized recurring revenues
of NOK 53.9 million (43.6). The company had NOK 41.6 million in cash at the end
of the quarter and NOK 20.0 million in an unutilized revolving credit facility.

For the first six months of 2023, Arribatec reported revenues of NOK 298.2
million (246.2)  and a positive EBITDA of NOK 13.7million (-17.7), an
improvement of NOK 31.4 million compared to the first half of 2022.

"The effects of the restructuring of Arribatec Marine yield returns, in addition
to business unit Hospitality being close to EBITDA break-even in the second
quarter. Good project delivery and cost control across the board highlights the
satisfactory EBITDA improvement, and building upon the several important
contract wins over the latest months we expect the positive development to
continue," Johansen concludes.

The Board of Directors' financial report for the second quarter of 2023 is
enclosed.
The presentation will be streamed live at 09:00 CET at: 

https://www.arribatec.com/arribatec-q2-2023/

*EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the IFRS financial statements as a part of the APM section of the
2022 fourth-quarter report on pages 33/34.
ENDS
 
For additional information, please contact: 
 
Geir Johansen, CEO, Arribatec Group ASA: +47 4771 0451
Martin Nes, Chairman of the Board, Arribatec Group ASA: +47 920 14 814
 
This information is considered to be inside information according to the EU
Market Abuse Regulation. It is subject to disclosure requirements according to
section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Geir Johansen, CEO, Arribatec Group ASA, on 17
August 2023 at 07:30 CET.
About Arribatec | www.arribatec.com