Asker, Norway – June 20, 2018
After trading through a difficult market in 2015 and 2016, Aqualis has delivered positive adjusted EBIT every quarter since the start of 2017. The revenue grew by 13% in 2017 compared with 2016 and the associated growth in working capital has been financed through operations. The Company has, over this period, had a relatively large cash balance, and the Board of Directors proposes that a part of this shall be distributed to the shareholders to increase capital efficiency and enhance return on operations. The Board of Directors has decided to distribute an extraordinary dividend to the shareholders of Aqualis ASA.
The total distribution to the Company’s shareholders is NOK 38,063,915 which constitutes NOK 0.90 per share. The extraordinary dividend will for accounting purposes be charged to the share premium/other equity with NOK 38,063,915. The distribution will for tax purposes be considered a repayment of paid-in capital.
The Board of Directors considers the Company to have sufficient access to capital, after the proposed distribution of capital, to meet working capital requirements, to grow the business as the market improves and to complete potential investments.
Aqualis’ ambition is to pay a cash dividend that is following its long-term underlying cash flow. When deciding the dividend amount, the Aqualis Board of Directors will consider the group’s financial strength, cash flow, investment needs and growth opportunities and a level of financial flexibility that is appropriate for the Aqualis business model. In addition to paying a cash dividend, Aqualis may buy back its own shares as part of its plan to distribute capital to shareholders.
Key information relating to the cash dividend to be paid by Aqualis ASA
Amount: NOK 0.90 per share
Declared currency: NOK
Last day including right: 27 June 2018
Ex-date: 28 June 2018
Record date: 29 June 2018
Payment date: On or about 9 July 2018
Date of approval: 20 June 2018
For further information, please contact:
Kim Boman, CFO, Aqualis ASA
Telephone: +47 959 63 912
Endre Johansen, Corporate Communications AS
Telephone: +47 41 61 06 05
Aqualis ASA (OSE: Aqua) is a public company that, through its subsidiaries and associates, offers energy consultancy services to the offshore oil, gas and renewables sectors globally. The group employs experienced consultants across 17 offices in 14 countries worldwide. Aqualis ASA operates under two different brands: Aqualis Offshore and Offshore Wind Consultants. Aqualis Offshore is a specialised 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.