NRC Group today published its financial results for the fourth quarter and full
year 2024.

CEO Anders Gustafsson and CFO Åsgeir Nord will present the results at 10:30 am
(CET) at House of Oslo, Ruseløkkveien 34, Oslo.

The presentation will also be webcast live on the following link:

https://channel.royalcast.com/landingpage/hegnarmedia/20250212_10/

The presentation will be followed by a live Q&A-session. Investors, analysts and
journalists are welcome to participate at House of Oslo or follow the
presentation digitally, where questions can be submitted during the event.


Group highlights


4th quarter:

  · Revenue of NOK 1,737 million (NOK 1,800 million), EBIT adj. of NOK -2
million (NOK 24 million) and operating profit margin (EBIT adj. margin) of -0.1%
(1.4%).
  · Operating cash flow of NOK 198 million (NOK 306 million), influenced by a
decreased net working capital. Net interest-bearing debt decreased by NOK 375
million in the quarter to NOK 622 million.
  · Order backlog of NOK 7,971 million (NOK 6,940 million) with a book-to-bill
ratio of 1.0x in the quarter. Order intake of NOK 1,817 million (NOK 2,024
million), including NOK 958 million light-rail alliance contract in Finland.
  · The restructuring program in Finland, Acceleration Lane, has progressed well
and the new organisational structure was launched in Jan 2025.
  · After end of quarter (February 2025), mediation in the ETM project resumed.
An acceptable solution could not be reached, legal proceedings will be
initiated. A further downward adjustment of the project of NOK 30 million was
made in Q4.

Full year:

  · Revenue of NOK 6,892 million (NOK 6,732 million), EBIT adj. of NOK -93
million (NOK 121 million) and order intake of NOK 6,606 million (NOK 5,632
million). Results significantly affected by downward adjustments of approx. NOK
160 million in Q2 and a further downward adjustment of the ETM project of NOK 30
million in Q4.
  · Adjusting items of NOK 727 million, consisting of GW impairment charges of
NOK 650 million (NOK 500/150 million in Finland/Norway), Kept restructuring
costs of NOK 74 million, restructuring costs in Finland of NOK 7 million and
income related to M&A of NOK 4 million. Corresponding EBIT of NOK -820 million
(NOK 105 million).
  · Operating cash flow of NOK 31 million (NOK 376 million) and net interest
-bearing debt at NOK 622 million (NOK 761 million at year-end 2023).
  · Financial platform significantly strengthened through a share issue of NOK
250 million and renegotiated covenants with bank and bondholders.
  · Comprehensive risk mapping process was completed in 2024. Combined with
robust accounting practices and a strengthened financial platform, NRC Group has
significantly enhanced its risk resilience.

The result report and result presentation can be found attached and will be
available on the company's homepage: www.nrcgroup.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Charlotte Krog, Communication,
NRC Group ASA, on 12 February 2025.