Endur Asa · OSL:ENDUR
Endur Asa — Q2 2026 Earnings Presentation
25 slides from Endur Asa's earnings presentation, Aug 20, 2026
Slide 1: Endúr ASA Q2 2026 financial results
Endúr ASA Q2 2026 financial results 20 August 2026
Slide 2: Agenda
ENDÚR Q2 2026 PRESENTATION Agenda Group - Consolidated key figures and highlights - Group structure and strategy Business segments - Rehabilitation & Intersections - Ports & Marine - Constructions - Aquaculture & Maritime industry - Key figures and highlights Financials - Profit & loss - Balance she
Slide 3: New strong quarter driven by solid infrastructure performance
CONSOLIDATED KEY FIGURES AND HIGHLIGHTS New strong quarter driven by solid infrastructure performance REVENUE EBITA EBITA MARGIN BACKLOG NOK 2 038.8 million NOK 135.0 million 6.6% NOK 8 492 million +21% vs. Q2 2025 +33% vs. Q2 2025 +0.6 p.p. vs. Q2 2025 - 8% vs. Q2 2025 • Positive development in rev
Slide 4: Specialist infrastructure contractor and compounder
GROUP STRUCTURE AND STRATEGY Specialist infrastructure contractor and compounder • Specialist infrastructure contractor in Norway and Sweden Rehabilitation & Ports & Marine (~23%) Construction (~31%) Aquaculture & Intersections (~31%) Maritime industry • Investing in counter - cyclical and (~16%) gr
Slide 5: Business segments
endur. Business segments
Slide 6: Rehabilitation & Intersections
BUSINESS SEGMENTS Rehabilitation & Intersections REVENUE EBITA EBITA MARGIN BACKLOG NOK 621.4 million NOK 56.0 million 9.0% NOK 2 600 million +38% vs. Q2 2025 +61% vs. Q2 2025 +1.3 p.p. vs. Q2 2025 - 6% vs. Q2 2025 • Very strong growth in both revenue Revenue EBITA & EBITA margin and result, driven
Slide 7: Ports & Marine
BUSINESS SEGMENTS Ports & Marine REVENUE EBITA EBITA MARGIN BACKLOG NOK 465.0 million NOK 33.6 million 7.2% NOK 1 750 million +14% vs. Q2 2025 +11% vs. Q2 2025 - 0.2 p.p. vs. Q2 2025 +6% vs. Q2 2025 • Strong growth in both revenue and Revenue EBITA & EBITA margin result, mainly driven by Norwegian 5
Slide 8: Constructions
BUSINESS SEGMENTS Constructions REVENUE EBITA EBITA MARGIN BACKLOG NOK 623.1 million NOK 38.6 million 6.2% NOK 3 425 million +15% vs. Q2 2025 +8% vs. Q2 2025 - 0.4 p.p. vs. Q2 2025 +3% vs. Q2 2025 • Strong growth in both revenue and Revenue EBITA & EBITA margin result 650 623,1 65,0 • 588,6 70 40,00
Slide 9: Aquaculture & Maritime industry
BUSINESS SEGMENTS Aquaculture & Maritime industry REVENUE EBITA EBITA MARGIN BACKLOG NOK 324.6 million NOK 16.5 million 5.1% NOK 717 million +9% vs. Q2 2025 +90% vs. Q2 2025 +2.2 p.p. vs. Q2 2025 - 52% vs. Q2 2025 • Stable overall activity level, increased Revenue EBITA & EBITA margin result compare
Slide 10: Financials
endur. Financials
Slide 11: Profit & loss
FINANCIALS Profit & loss Amounts in MNOK Q2 2026 Q2 2025 YTD 2026 YTD 2025 FY 2025 • Financial statements with actual Actuals Actuals Actuals Actuals Actuals figures • Consolidates the VAQ and Operating revenue 2 034,9 1 683,0 3 779,1 2 543,4 6 397,8 Totalbetong acquisitions from 17 Other revenue 4,
Slide 12: Balance sheet
FINANCIALS Balance sheet Amounts in MNOK Q2 2026 Q1 2026 Amounts in MNOK Q2 2026 Q1 2026 • Financial statements with actual Actuals Actuals Actuals Actuals figures ASSETS EQUITY AND LIABILITES • Increase in non - current assets driven Intangible assets and goodwill 2 975 2 860 Share capital 26 26 by
Slide 13: Cash flow
FINANCIALS Cash flow Amounts in MNOK Q2 2026 Q2 2025 YTD 2026 YTD 2025 FY 2025 • Financial statements with actual figures Actuals Actuals Actuals Actuals Actuals Profit/loss for the period • Quarterly cash flow from operations 63,8 42,5 98,5 30,8 134,4 impacted by anticipated effects from Adjustment
Slide 14: Net working capital (NWC) and net financial liabilities (assets)
FINANCIALS Net working capital (NWC) and net financial liabilities (assets) 4 088 NWC Net financial liabilities excl. Equity & Equity ratio • Large negative NWC consolidated 0 leasing 1 1/5 from M&A, especially the Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Totalbetong acquisitions in Q1 2025 2 459 2 424 (credit
Slide 15: Outlook and summary
endur. Outlook and summary
Slide 16: Attractive market conditions and strong backlog coverage
OUTLOOK Attractive market conditions and strong backlog coverage • Backlog increased after the awarded Trivium project and several awards within rehabilitation and quays • Salfjord not included in the backlog (pending FID) • Attractive market conditions and strong backlog coverage for YTG 2026, whil
Slide 17: New strong quarter driven by solid infrastructure performance
SUMMARY New strong quarter driven by solid infrastructure performance Quarterly revenue of NOK 2 039 million (1 691) and all - time high EBITA of NOK 135.0 million (101) and margin of 6.6% (6.0). Core infrastructure segments contributing with a combined growth of ~22% and ~27% in revenue and results
Slide 18: Q&A
endur. Q&A
Slide 19: endur.
endur.
Slide 20: Appendix
endur. Appendix
Slide 21: Quarterly profit & loss
APPENDIX Quarterly profit & loss Amounts in MNOK Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Actuals Actuals Actuals Actuals Actuals Operating revenue 1 683,0 1 841,3 2 013,1 1 744,2 2 034,9 Other revenue 7,7 0,3 8,0 0,5 4,0 Revenue 1 690,7 1 841,6 2 021,1 1 744,7 2 038,8 Cost of sales 1 091,9 1 190,1 1
Slide 22: Quarterly balance sheet
APPENDIX Quarterly balance sheet Amounts in MNOK Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Amounts in MNOK Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals ASSETS EQUITY AND LIABILITES Intangible assets and goodwill 2 771 2 764 2 7
Slide 23: Quarterly cash flow and statement of changes in equity
APPENDIX Quarterly cash flow and statement of changes in equity Amounts in MNOK Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Actuals Actuals Actuals Actuals Actuals Cash flow from operating activities 105,6 139,0 540,6 - 59,0 21,8 Cash flow from investing activities - 27,9 - 6,4 - 18,2 - 77,7 - 74,9 Cash
Slide 24: Overhead expenses (holding activities)
APPENDIX Overhead expenses (holding activities) • Ongoing focus on delivering cost Endúr ASA effective group services, but expense Amounts in MNOK Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 level will vary with different activities Revenue 0,8 0,8 1,3 0,2 0,7 in the parent company EBITA - 8,1 - 12,4 -
Slide 25: endur.
endur.