30 April 2024 -HAV Group ASA today publishes its annual report for 2023 and the group's second sustainability report. Both reports are enclosed to this announcement. "Financially, 2023 was another transitional year - especially the second half. However, instead of cutting costs, we utilised excess capacity in projects that were aimed at improving the group's competitive position to be able to fully capitalise on the forthcoming growth opportunities. This proved to be a wise decision, as we won multiple new contracts towards the end of 2023 and in early 2024. At year-end 2023, our external order backlog was 25% higher than when we entered the year, reflecting both an improved marked and our competitive edge. This order backlog provides us with good visibility for 2024," saysGunnar Larsen , CEO ofHAV Group .HAV Group's revenue wasNOK 617.1 million in 2023 (2022: 621.8), with EBITDA ofNOK 9.1 million (19.8), and EBIT ofNOK -7.9 million (2.0). The reported EBITDA and EBIT for 2023 are approximatelyNOK 7 million lower than the preliminary full-year financial numbers presented in the fourth quarter 2023 financial report. The deviation is caused by a loss provision as a consequence of change of supplier related to critical supply in an ongoing project. SUSTAINABILITY STRATEGY AND REPORT Sustainability is an integral part ofHAV Group's overall strategy. The business is founded on providing shipowners with technologies, products, systems and services that allow them to realise both the financial and environmental benefits associated with low and zero emission shipping. "In 2023 we started a process to revise our sustainability strategy, involving all subsidiaries to help redefine our key goals, commitments and priorities going forward.HAV Group's sustainability strategy supports and aligns with our business strategy. Our second sustainability report explains how we are continuously working to support the maritime industry in moving from visions to actions, and how we manage our own group's impact on people, society and the environment," addsGunnar Larsen . ThroughHAV Group's second sustainability report, which is prepared in accordance with the 2021 GRI Standards, the company aims to inform stakeholders about its approach and performance on key environmental, social and governance (ESG) topics. (ENDS) For more information, please contact:Gunnar Larsen , CEO gunnar.larsen@havgroup.no +47 901 05 694 AboutHAV Group | www.havgroup.noHAV Group and its subsidiaries (together: "HAV Group ") is an international provider of technology and services for maritime and marine industries.HAV Group has several decades of industry experience, in addition to special expertise in guiding the marine and maritime industries through the green shift and towards the goal of zero emissions.HAV Group ASA is listed on Euronext Growth under the ticker code HAV.
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