Hva mener dere om tallene? 31 AUGUST 2022 - Frøy ASA second quarter results
o Revenues of NOK 507 million vs. Q2 21 NOK 412 million.

o Revenues from fixed contracts and framework agreements increased 21% vs. Q2 21

o EBITDA of NOK 154 million (Q2 21: NOK 159 million)

o Backlog 30.06.22 of approx. NOK 6.2 billion including options (30.06.21

approx. NOK 6.3 billion)

o Net interest-bearing bank debt of NOK 3.688 million (Q2 21: 2.995 million)

Tonje Foss, CEO of Frøy ASA ("Frøy" or the "Company") comment:

"Q2 22 was a busy quarter for Frøy with a normal seasonal increase in activity,

we secured multiple new agreements and increased our backlog. We also placed an

order for a new 4.500 m3 wellboat and paid our first dividend during Q2.

Revenues continue to increase driven by new vessels on time charter contracts.

EBITDA in the quarter was, however, impacted by high fuel costs and unscheduled

off-hire and maintenance on two wellboats".

Key milestones in Q2 22 were:

o NOK 200m increased backlog vs. Q1 22

o + 300 treatments completed with new combination method for removal of sea lice

- documenting improvement in efficiency and fish welfare

o New 4.500 m3 wellboat ordered in May, scheduled for delivery mid 2024

o NOK 130 million dividend distributed to shareholders in June

"We continue to see positive demand drivers for aqua service specialists with

knowledge and equipment to solve business critical day to day farming operations

in a safe, efficient, and sustainable manner. Tightening Government regulations

is expected to further increase demand for FrøyŽs specialized services. In Q2 we

have taken several important steps towards creating an efficient digitalized

platform which we believe will be key to increase efficiency and deliver

industry leading solutions in the years to come.

The Company will host a live presentation in Norwegian language at 09:00 a.m.

CET at Felix Konferansesenter, Bryggetorget 3, Aker Brygge, Oslo.

The presentation will also be broadcasted via a live webcast:

https://events.webcast.no/viewer-registration/gzDamMYc/register

Participants will have the opportunity to submit questions online throughout the

webcast session.

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

Important notices

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 of the Norwegian Securities Trading Act.

This announcement is not and does not form a part of any offer to sell, or a

solicitation of an offer to purchase, any securities of the Company. The

distribution of this announcement and other information may be restricted by law

in certain jurisdictions. Copies of this announcement are not being made and may

not be distributed or sent into any jurisdiction in which such distribution

would be unlawful or would require registration or other measures. Persons into

whose possession this announcement or such other information should come are

required to inform themselves about and to observe any such restrictions.

Matters discussed in this announcement may constitute forward-looking

statements. Forward-looking statements are statements that are not historical

facts and may be identified by words such as "believe", "expect", "anticipate",

"strategy", "intends", "estimate", "will", "may", "continue", "should" and

similar expressions. The forward-looking statements in this release are based

upon various assumptions, many of which are based, in turn, upon further

assumptions. Although the Company believes that these assumptions were

reasonable when made, these assumptions are inherently subject to significant

known and unknown risks, uncertainties, contingencies and other important

factors which are difficult or impossible to predict and are beyond its control.

Actual events may differ significantly from any anticipated development due to a

number of factors, including without limitation, changes in investment levels

and need for the Company's services, changes in the general economic, political

and market conditions in the markets in which the Company operates, the

Company's ability to attract, retain and motivate qualified personnel, changes

in the Company's ability to engage in commercially acceptable acquisitions and

strategic investments, and changes in laws and regulation and the potential

impact of legal proceedings and actions. Such risks, uncertainties,

contingencies and other important factors could cause actual events to differ

materially from the expectations expressed or implied in this release by such

forward-looking statements. The Company does not provide any guarantees that the

assumptions underlying the forward-looking statements in this announcement are

free from errors nor does it accept any responsibility for the future accuracy

of the opinions expressed in this announcement or any obligation to update or

revise the statements in this announcement to reflect subsequent events. You

should not place undue reliance on the forward-looking statements in this

document. The information, opinions and forward-looking statements contained in

this announcement speak only as at its date, and are subject to change without

notice. The Company does not undertake any obligation to review, update,

confirm, or to release publicly any revisions to any forward-looking statements

to reflect events that occur or circumstances that arise in relation to the

content of this announcement.

This stock exchange announcement was published by Sondre Vevstad interim CFO in

Frøy ASA on 31 August 2022 at 07:00 CET.

https://newsweb.oslobors.no/message/570154