We refer to message published by Frøy ASA this morning. The message and report for the third quarter 2022 is included below.NTS ASA will publish its report for the third quarter 2022 onNovember 23 as previously announced. Frøy ASA ("Frøy") reports its highest quarterly revenue and operating EBITDA on record. "I´m happy to see the strong performance in both our wellboat and service segments in the quarter" saysTonje Foss , CEO at Frøy ASA. "Despite high inflation and fuel prices we continue to grow both our top line and operating EBITDA. We are working hard to deliver continuous improvements to our clients. Reducing biological risk and costs are our core priorities. I´m proud by the hard work that our team has shown in the quarter," says Foss. Highlights from the quarter: o Revenues ofNOK 614 million vs. Q321 NOK 457 million. o Revenues from fixed contracts and framework agreements increased 27% vs. Q3 21 o EBITDA excl. gain from sale of assets ofNOK 197 million (Q3 21:NOK 183 million ) o Backlog30.09.22 of approx.NOK 6.2 billion including options (30.09.21 approx.NOK 6.1 billion ) On28 September 2022 the Norwegian Government proposed to introduce a new resource tax on salmon and trout farming of 40% with the effect from the tax year 2023. The short-term consequences, following the new proposal, has been a broad-based investment halt among Norwegian salmon farmers. Frøy deliver business critical day to day farming operations for salmon farmers. To date, activity has remained high and in line with normal seasonality. The halted investments into new smolt facilities, harvesting facilities and other farming infrastructure are likely to impact future growth inNorway also within Frøy´s segments, if they are not reinitiated. Less attractive conditions inNorway are expected to focus more investments into other farming regions abroad. Frøy will prioritize to grow and support salmon farmers in the regions where they operate. During Q3 Frøy has continued to invest in new efficient and more environmentally friendly vessels. We continue to work with digitalization and build on our base of +800 specialized aqua service personnel and will actively assist salmon farmers with efficient and sustainable solutions wherever they choose to grow. The Company will host a live presentation in Norwegian language at09:00 a.m. CET at Nordea´s offices, Essendrops gate 7,Oslo . The presentation will also be broadcasted via a live webcast: https://events.webcast.no/viewer-registration/Z8OPvYR1/register A recorded version of the Norwegian webcast and a recorded English webcast will be made available on https://froygruppen.no/investor/ in the afternoon. For further information, please contact:Tonje Foss , CEO +47 996 10 116 Sondre Vevstad, Interim CFO +47 936 54 555
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