Endúr (ENDUR)

[Ravioli]

2q 2023: Veldig sterk rapport. Helt rått av Infrastruktur, som drar opp resultatet til tross for at Artec aqua er inne i en rolig periode, faktureringsmessig. Artec jobber på hele tiden, men fører inntekter svært konservativt i totalentrepriseprosjektene sine i prosjektfasene de er inne i nå.

Fra outlook. Dette er kanskje ikke like sexy som AI og ARR, men BMO og Endur er perfekt posisjonert i en megatrend her, tenker da spesielt på vedlikehold og rehabilitering av infrastruktur, ikke på de mer standard flosklene om grønn industri etc som mange andre firmaer også har:

“While the construction market in general looks more uncertain
due to lower spending on building projects and inflation, Endúr’s
niches are exposed to an increasing maintenance gap for critical
infrastructure and increased demand for renewable energy and
green industry”

[Ravioli]

@Hocki

Mener Arctic at Endur historisk har 10% marginer? Kan du peke på bildet her hvor de er blitt av?

[ezunix]

Det siste spørsmålet under presentasjonen av kvartalsrapporten var spesielt interresant. Kontrakten for vedlikehold av fregattene til Forsvaret vil ligge på mellom 5 og 15 milliarder.

[ezunix]

Kopiert fra forumet til FA:

SB1M og Petter Kongslie kom med ny analyse og kursmål 70 på ENDUR i går.

«Following solid reporting in 1H23 and a refinancing of the company, we increase our 2024 EBIT with ~20%, reiterate our Buy recommendation and increase target from NOK50 to NOK70. On our estimates, ENDUR trades at 2024 EV/EBITA and EV/OpFCF (EBITDA less capex) of 9.8x and 8x, respectively, whereas our target correspond to 2024 EV/EBITA and EV/OpFCF of 11x and 9x, respectively. Larger peers*, but with lower revenue growth CAGR and EBITDA- and EBIT margins trades at 2024 EV/EBIT of ~12.5x (which is comparable to our EV/OpFCF multiple).» ø

[Ravioli]

Takk for oppdatering. Multippelen EV/OpFCF minner mye om oppsettet jeg gjorde litt lenger opp i tråden og er nøkkelen til å forstå hvor attraktiv denne er.

[Ravioli]

Sånn i tilfelle noen tror det blir lite å gjøre for BMO fremover. En “TAM” for fylkesvegene i Møre og Romsdal på ca. 8 mrd. Mens vi ser tendenser til at giga-prosjektene innen samferdsel tones ned og utsettes (inflasjonsdrivende, grønnere verdier i politikken etc.), er rehabilitering av aldrende konstruksjoner noe man ikke kommer unna. Dette er en vanvittig bra sektor å være i fremover. Det er to store i Norge, BMO entreprenør (del av Endur) og Consolvo (del av AF-gruppen). De er ca like store, omsetter for 5-600 millioner og har begge meget gode marginer for denne typen virksomhet.

" En kartlegging som administrasjonen i fylket gjorde i 2023 viste at det vil koste 16,8 milliarder kroner å ta igjen vedlikeholdsetterslepet på fylkesveiene i Møre og Romsdal. Om lag halvparten gjelder tunneler, broer og fergekaier."

Måler kvaliteten på over 3000 kilometer fylkesvei

[TekBot]

Endúr ASA - Contract awards

12 October 2023 – Svensk Sjöentreprenad AB («SSE»), Stockholms Vattenentreprenader AB («Sventab») and Svenska Tungdykargruppen AB («STDG»), BMO Entreprenør AS (“BMO”), Endúr Sjøsterk AS («Endúr Sjøsterk») and Endúr Maritime AS (“Endúr Maritime”), all wholly owned subsidiaries of Endúr ASA (“Endúr”), have won several medium-sized bids in October. No single award is larger than NOK 50 million, but as the aggregate amount approximates NOK 200 million and has been accumulated over a short period of time, the information is deemed to be material.

Marcon has, through its wholly owned subsidiaries, been awarded five contracts that are to be executed from Q4 2023 and through 2024. The scope of work includes; quay rehabilitations in Malmö and Göteburg (SSE), dredging and service tasks in Northern Sweden (STDG) and sea cables in Stockholm (Sventab).
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BMO has been awarded two contracts that are to be executed from Q4 2023 and through H1 2024. The scope of work includes; construction of a new bridge and road upgrades, both for public infrastructure owners.

Endúr Maritime and Endúr Sjøsterk have won two tenders under the ongoing framework agreement for The Norwegian Defense (“FLO”) and increased scope of work for a feed barge under production, all of which to be completed by end Q4 2023.

“These contracts, as well as the seasonally high tender activity throughout the Group’s business segments, gives cause for optimism for the coming periods”, says Jeppe Raaholt, CEO of Endúr.

ENDS
For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialized concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialized project and marine services. Endúr ASA is headquartered in Lysaker, Norway. See www.endur.no.

Kilde

[Ravioli]

Aksjen op 6-7 % på en samlemelding om ordreinntak. 200 mill i oktober, det er nesten like mye som et helt kvartal normalt sett. Det klumper seg sikkert litt sammen i tid, men det vitner uansett om at etterspørselen i markedet er definitivt til stede for Endur. At BMO skal ha nok å holde på med i tiden fremover er jeg ikke bekymret for i det hele tatt. De er fantastisk posisjonert i markedet i årene fremover.

[TekBot]

Endúr ASA: Invitation to presentation of Q3 2023 financial results

Endúr ASA invites investors, analysts and media to a live webcast presentation of the company’s third quarter 2023 financial results.

Date: Thursday 9 November 2023
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Time: 08:00 CET
Presenters: Jeppe Raaholt, CEO, and Einar Olsen, CFO

The webcast presentation can be viewed from the following URL: https://channel.royalcast.com/landingpage/hegnarmedia/20231109_3/

Questions can be submitted during the live webcast.
The presentation material will be published the same day at 07:00 CET.

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialised concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialised project and marine services. See www.endur.no

Kilde

[TekBot]

ENDÚR TO ACQUIRE REPSTAD ANLEGG

November 7 2023 – Endúr ASA («Endúr») has entered into an agreement to purchase 100% of the shares in Repstad Anlegg AS («Repstad») to increase its presence within infrastructure services in a highly accretive and geographically complementary transaction.

”Repstad represents an excellent strategic fit with Endúr’s existing businesses and will both broaden our footprint within Marine Infrastructure and provide opportunities for collaboration and revenue synergies for BMO, Marcon and Artec Aqua. We are particularly impressed by the commercially oriented organization instilled by Repstad’s management”, says Jeppe Raaholt, CEO of Endúr.
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About Repstad
Repstad consists of Repstad Anlegg AS and its wholly owned subsidiaries; Breakwaters AS, Agder Marine AS, Sandås Anlegg AS and Leif Hodnemyr Transport AS. Repstad is a Norwegian infrastructure contractor, specialized within marine services, quays & harbours and groundworks. Repstad has a total of around 200 employees and forecast full-year 2023 revenues of NOK ~700 million, EBITDA (IFRS) of NOK ~89 million (12.7%) and EBIT of NOK ~45 million. Repstad currently has a well diversified firm backlog of NOK ~475 million.

Repstad Anlegg AS and the large majority of its subsidiary companies, are headquartered in Agder county, in south Norway, which is a region where Endúr has a more limited presence today.

Strategic rationale
The transaction represents an important step towards Endúr’s ambition of NOK 1 billion in quarterly revenue by the end of 2024 and exposure to complementary niche markets with strong underlying demand and growth. Repstad has a direct operational interface with Endúr’s existing companies, including dock and below-water operations, groundworks and intake pipes. The management team of Repstad has a successful track-record for profitable growth and the organizational culture is very much aligned with that of Endúr.

The sellers are enthusiastic about the transaction, emphasizing Endúr’s ability to facilitate for increased growth and financial solidity.

”We see great potential within Endúr’s niche markets and have a matching view on how to best create shareholder values as a specialist contractor. Endúr represents a preferred buyer for us, and the large amount of consideration shares serves as testament to our belief in Endúr and Repstad, both individually and combined,” says Lars Gunnar Andersen, Chairman of the Board at Repstad.

Terms and financing
The transaction is based on an enterprise value on cash- and debt-free basis («EV») of NOK 315 million (NOK 455 million incl. leasing liabilities). The transaction’s implied multiples and accretive effect on EPS provides a strong financial case for Endúr’s existing shareholders.

The transaction includes an earn-out of +/- 2 x [EBIT 2023-2025 – NOK 150 million], capped and floored at NOK +100 million and NOK -50 million, due by June 30 2026.

The acquisition is fully financed with a NOK 100 million 3-year term loan facility from SpareBank 1 SR-Bank and SpareBank 1 SMN, a seller’s credit of NOK 50 million, due by June 30 2026, and NOK 167 million in consideration shares. The consideration shares will be issued at a price equal to the average volume-weighted average price (“VWAP”) for the last 15 days prior to this announcement. The consideration shares are subject to lock-up restrictions, being released with 1/3 after 6 months, 1/3 after 12 months and 1/3 after 24 months. The sellers, who also represent Repstad’s management team, will continue in their existing positions and undertake non-compete obligations.

The transaction is expected to be completed by early December and is subject to approval from The Norwegian Competition Authority («Konkurransetilsynet») and certain customary conditions.

Please find a detailed presentation of the transaction attached to this announcement.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Einar Olsen (CFO), at the date and time as set out above.

ENDS

For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDÚR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialized concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialized project and marine services. Endúr ASA is headquartered in Lysaker, Norway. See www.endúr.no.

Kilde

[TekBot]

Endúr ASA: Third quarter 2023 financial results

9 November 2023 – Endúr ASA (Endúr) delivered an all-time high EBITDA margin of 16.6 percent in this year’s third quarter (Q3 2022: 11.3%). Adjusted EBITDA was NOK 70.1 million (67.2) from revenue of NOK 421.9 million (592.6). The revenue decline is expected and linked to lower building activity in the Aquaculture Solutions segment. EBIT was NOK 35.5 million (31.3) and profit before tax ended at NOK 25.3 million (10.8).

“All our business segments continue to improve their operational performance and associated financial results, even though revenues and results from Aquaculture Solutions are lower than last year. We are very pleased with such a strong third quarter, and we expect to see healthy activity levels going forward”, says Jeppe Raaholt, CEO of Endúr.
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Order intake in the third quarter was NOK 250 million (216). The group’s order backlog stood at NOK 1,439 million at the end of September. The latter figure does not yet include the construction phases for Salmon Evolution Phase 2 and Geo Salmo land-based aquaculture facilities with an estimated combined contract value of NOK 2.5 billion.

Endúr’s cash flow from operating activities was NOK -17.9 million (6.3) in this year’s third quarter following an anticipated increase in net working capital due to ramp-up of activities in the Marine Infrastructure segment following the summer break.

IMPROVED MARGINS
Endúr’s Marine Infrastructure segment delivered revenue of NOK 271.4 million (250.1) in the third quarter. EBITDA was NOK 58.4 million (56.1), equivalent to an EBITDA margin of 21.5 percent (22.4%). Endúr has recently announced two acquisitions in the Marine Infrastructure segment. At the end of September, the company completed the acquisition of Swedish company Svenska Tungdykargruppen AB which specializes in diving and dredging operations. Earlier this week, Endúr announced plans to acquire Norwegian marine infrastructure group Repstad Anlegg AS.

“Both Svenska Tungdykargruppen and Repstad Anlegg operate in the same industry niches as our other subsidiaries. While the former can be considered as capacity-increasing investment for Marcon, the latter offers complementary competence, equipment and customer bases. We look forward to capitalizing on many potential revenue synergies”, adds Jeppe Raaholt.

Revenue in the Aquaculture Solutions segment was NOK 92.2 (292.8) in the third quarter. The change reflects less capital-intensive construction work in the current project mix, but the work force is fully utilised on design and planning activities. Subsequently, the EBITDA ended at NOK 8.4 million (10.7), equivalent to an EBITDA margin of 9.1 percent (3.7%).

In the business segment “Other”, Endúr Maritime delivered its highest EBITDA margin in several years with 11.7 percent (9.0%). EBITDA was NOK 6.8 million (4.6) from revenue of NOK 58.4 million (52.5).

OUTLOOK
Increasing maintenance gaps on critical infrastructure and several material upcoming infrastructure projects are expected to continue driving investments in the Marine Infrastructure segment. Within Aquaculture Solutions, the long-term outlook for land-based fish farming remains highly attractive. Detailed plan phases for Salmon Evolution phase 2 and Geo Salmo phase 1 are approaching finalization.
Endúr expects that group revenue will grow throughout 2024 and into 2025.

COMPANY PRESENTATION AT 08:00 CET TODAY
Endúr will host live webcast presentation today at 08:00 (CET). Investors, analysts and media are invited to watch the webcast from the following URL:

https://channel.royalcast.com/landingpage/hegnarmedia/20231109_3/

The third quarter 2023 results presentation is enclosed to this announcement.

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 the Norwegian Securities Trading Act. This stock exchange announcement was published by Einar Olsen, CFO of Endúr ASA, on 9 November 2023 at 07:00 CET.

(ENDS)

For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialised concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialised project and marine services. Endúr ASA is headquartered in Lysaker, Norway. See www.endur.no

Kilde

[Ravioli]

Veldig bra tall igjen, EBITDA 70 mill og EPS 0.26 for kvartalet, med den viktige bemerkningen om at Artec Aqua nå jobber i prosjekteringsfase for byggeplan på 2 gigantiske totalentrepriser og dermed bokfører inntekter fra disse prosjektene svært konservativt inntil byggingen starter. " Revenue [for Artec Aqua] expected to grow significantly
throughout 2024 as new projects move into build-out phases"

Interessant også hvis man ser på en proforma der repstad tas med. EBITDA øker da fra 70 til 106 mill, mer enn 50 %. Prisen for dette er ca 12 % utvanning av nye aksjer og kontantoppgjør på 150 mill. med en “earn out” modell over tre år.
Men denne oppstillingen er nok noe flatterende da Ebitda for Repstad varierer en del fra kvartal til kvartal og q3 var veldig sterkt. Tar man YTD i stedet får man en økning fra 194 mill til 256 mill, eller opp 32 %.

De gamle restene av Bergen group leverer bare bedre og bedre, enda en bekymring borte.
Jeg ble mer begeistret for denne rapporten enn det markedet ble, så jeg valgte å kjøpe en god del mer på dagens nedgang for å vente på markedets reaksjon når inntektene fra Artec Aqua kommer for alvor i 2024.

[Snapsen]

Takk for fin gjennomgang og oppstilling rundt utvanning!

Den tålmodige (les: over år) skal nok få godt betalt her. Det nye managementet etter restruktureringen leverer kvartal for kvartal og utviser særs god kapitalkontroll.

Kursen vil på et tidspunkt følge etter, men så er nok markedet meget spent på marginene til AA i de to neste store byggetrinnene, forhåpentlig har de kontroll også på dette fremover.

[TekBot]

Endúr ASA: Mandatory notifications of trade

Poca Invest AS, a company closely associated with Pål Reiulf Olsen, Chairman of the Board of Directors in Endúr ASA, has today purchased 12,000 shares in Endúr ASA at a price per share of NOK 42. Following this purchase, Pål Reiulf Olsen and his affiliated companies hold a total of 95,363 shares and 20,000 options in Endúr ASA.

Skjæggestad Invest AS, a company closely associated with Pål Skjæggestad, Board Member in Endúr ASA, has today purchased 14,000 shares in Endúr ASA at a price per share of NOK 42. Prior to this transaction, Pål Skjæggestad and his affiliates did not hold any shares or options in Endúr ASA.
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Råbjørn AS, a company closely associated with Jeppe Raaholt, CEO in Endúr ASA, has today purchased 3,000 shares in Endúr ASA at a price per share of NOK 42. Following this purchase, Jeppe Raaholt and his affiliates hold a total of 209,685 shares and 80,000 options in Endúr ASA.

Red Devil Holding AS, a company closely associated with Einar Olsen, CFO in Endúr ASA, has today purchased 3,000 shares in Endúr ASA at a price per share of NOK 42. Following this purchase, Einar Olsen and his affiliates hold a total of 32,843 shares and 60,000 options in Endúr ASA.

This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.

For more information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance
projects and services for marine infrastructure, including facilities for
land-based aquaculture, quays, harbours, dams, bridges and other specialised
concrete and steel projects. The company and its subsidiaries also offer a wide
range of other specialised project and marine services. Endúr ASA is
headquartered in Bergen, Norway. See www.endur.no.

Kilde

[Ravioli]

Svært milliardprosjekt som repstad anlegg skal jobbe på som underentreprenør for fransk firma i fem år fremover, e39 i Kristiansand, og som dermed går inn i backloggen til endur. Signering av kontrakt med kake i dag, selve tildelingen har vært kjent en stund.

Fransk entreprenør signerte storkontrakt i Kristiansand

[TekBot]

Endúr ASA - Notice of Extraordinary General Meeting

Oslo, 23 November 2023 – Reference is made to the stock exchange announcement published by Endúr ASA (“Endúr” or the “Company”) on 7 November 2023 regarding the agreement with Repstad Gruppen AS to purchase 100% of the shares in Repstad Anlegg AS (the “Transaction”).

As part of the consideration payable for the shares in Repstad Anlegg AS, Endúr shall, subject to the general meeting’s resolution, issue 4,174,202 new shares (the “Consideration Shares”) to Repstad Gruppen AS. The remaining portion of the purchase price shall be paid in cash, of which NOK 50 million is left outstanding as a seller’s credit due by 30 June 2026. For more information about the Transaction, please see the announcement of 7 November 2023.
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To consider the proposal to issue the Consideration Shares, the Company hereby calls for an extraordinary general meeting to be held on 14 December 2023 at 09:00 hours (CET) at the offices of Advokatfirmaet Thommessen AS at Ruseløkkveien 38, 0251 Oslo, Norway. Shareholders may also attend the general meeting digitally, and further information regarding digital participation is included in the attached notice. The shareholders are recommended to resolve (i) the issuance of the Consideration Shares to Repstad Gruppen AS subject to completion of the Transaction, and (ii) the election of a new member to the Company’s board of directors, effective from and subject to completion of the Transaction. Reference is made to the attached notice for more information about the proposed resolutions. The notice and its appendices are also made available on the Company’s website (https://endur.no/). Completion of the Transaction is subject to the approval by the general meeting of the above mentioned resolutions, required clearance from the Norwegian Competition Authority and certain other customary conditions.

For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDÚR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialized concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialized project and marine services. Endúr ASA is headquartered in Lysaker, Norway. See www.endúr.no.

Kilde

[TekBot]

Endúr ASA - The nomination committee’s recommendation to the general meeting

Oslo, 6 December 2023 – Reference is made to the stock exchange announcement published by Endúr ASA ("the “Company”) on 23 November 2023 regarding the notice of the Company’s extraordinary general meeting to be held on 14 December 2023 in connection with the Company’s acquisition of 100% of the shares in Repstad Anlegg AS (the “Transaction”).

The recommendation from the nomination committee is attached hereto, and is also available on the company’s website https://endur.no/.
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The Company has received required clearance from the Norwegian Competition Authority for the Transaction, and completion of the Transaction (subject to fulfillment of certain customary closing conditions) is expected later this month.

For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDÚR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialized concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialized project and marine services. Endúr ASA is headquartered in Lysaker, Norway. See www.endúr.no.

Kilde

[TekBot]

Endúr ASA - Minutes from extraordinary general meeting

Oslo, 14 December 2023 – Reference is made to the stock exchange announcement published by Endúr ASA (the “Company”) on 23 November 2023 regarding the notice of the extraordinary general meeting to be held in connection with the Company’s acquisition of all the shares in Repstad Anlegg AS (the “Transaction”). The extraordinary general meeting was held today, 14 December 2023 at 09:00 hours CET.

As follows from the attached minutes, all resolutions were passed as proposed by the board of directors, including (i) the issuance of 4,174,202 new shares to Repstad Gruppen AS as part of the consideration payable for the shares in Repstad Anlegg AS, and (ii) the election of Jostein Devold as a deputy board member to the Company’s board of directors, effective from and subject to completion of the Transaction. Following registration of the share capital increase pertaining to the 4,174,202 new shares, the Company’s share capital will be NOK 18,384,513.50, divided into 36,769,027 shares, each with a nominal value of NOK 0.50.
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The Transaction is expected to be completed shortly, and a separate stock exchange announcement will be published upon completion.

For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDÚR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialized concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialized project and marine services. Endúr ASA is headquartered in Lysaker, Norway. See www.endúr.no.

Kilde

[TekBot]

Endúr ASA – Successful completion of the Repstad Anlegg transaction

Oslo, 14 December 2023 – Reference is made to the stock exchange announcement published by Endúr ASA (the “Company”) on 7 November 2023 regarding the agreement with Repstad Gruppen AS to purchase 100% of the shares in Repstad Anlegg AS (the “Transaction”).

The Company is pleased to announce that the Transaction has been successfully completed. For more information about the Transaction, and the strategic rationale behind the Transaction, please see the stock exchange announcement published by the Company on 7 November 2023.
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For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDÚR) is a leading supplier of construction and maintenance projects and services for marine infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges and other specialized concrete and steel projects. The company and its subsidiaries also offer a wide range of other specialized project and marine services. Endúr ASA is headquartered in Lysaker, Norway. See www.endúr.no.

Kilde

[TekBot]

Endúr ASA - Disclosure of large shareholdings

Reference is made to the stock exchange announcement made by Endúr ASA (the “Company”) on 14 December 2023 regarding the completion of the acquisition of all the shares in Repstad Anlegg AS (the “Transaction”). As part of completion of the Transaction, Repstad Gruppen AS has subscribed for the 4,174,202 new shares (the “New Shares”) in the Company resolved issued by the Company’s general meeting earlier today.

Jörn Ryberg Holding AB (“Ryberg”) holds 1,799,789 shares in the Company, equal to approximately 5.52% of the shares and voting rights currently registered in the Norwegian Register of Business Enterprises. Upon registration of the share capital increase pertaining to the New Shares, Ryberg’s holding of shares and voting rights in the Company will be reduced to approximately 4.89%. Ryberg has no other rights to shares issued by the Company.
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Artec Holding AS (“Artec”) holds 8,598,313 shares in the Company, equal to approximately 26.38% of the shares and voting rights currently registered in the Norwegian Register of Business Enterprises. Upon registration of the share capital increase pertaining to the New Shares, Artec’s holding of shares and voting rights in the Company will be reduced to approximately 23.38%. Artec has no other rights to shares issued by the Company.

This announcement is made in accordance with Section 4-2 of the Norwegian Securities Trading Act.

Kilde