ESCO Germany, based in Hamburg, will provide MWS services to support the offshore transportation and installation (T&I) campaign relating to the foundations, inter-array cables and wind turbine generators (WTGs). Its scope of work includes the provision of expert technical review and approval of documents, operations and vessels relating to the warranted assets.

“We are delighted to have been awarded the Windanker contract following our recent collaboration with Iberdrola on the Baltic Eagle project.”

Tilo Klappenbach, ESCO Germany’s Country Manager

The Windanker project is a major offshore wind farm in Germany located in the Baltic Sea about 25 kilometres offshore. It consists of 21 15MW WTGs, with a combined capacity of 315MW. The installation activities are scheduled for 2025 and 2026, with project commissioning expected by the end of 2026.

“Our main role is to help minimise risk and to ensure that offshore operations are conducted safely and efficiently. We have an extensive track-record of supporting offshore wind farm projects, and we will apply this know-how to the Windanker project.”

Continues Klappenbach

In the German offshore wind market alone, ESCO and its sister company JMC has a project involvement track-record of over 20 offshore wind farms and a combined capacity of over 9GW to date.

ESCO is part of Oslo-listed ESCO Consultants ASA.

Discover our full range of energy, marine, engineering and digital services to support German offshore and renewable energy development:

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The Company currently owns a total of 46,213 of its own shares, representing approximately 0.04% of the outstanding share capital in the Company.

The buyback program will be conducted in accordance with the authorization granted to the Board of Directors at the Annual General Meeting on 29 May 2024.

Under the share buyback program, shares may be acquired for a total maximum amount of NOK 5,000,000 and for a maximum of 250,000 shares.

The number of shares acquired per day shall not exceed 31,214 shares, corresponding to 25% of the average daily trading volume during October 2024.

The repurchase will be conducted in the period from 19 November 2024 to 20 December 2024 or until the maximum number of shares have been repurchased.

The purpose of the share buyback program is to fulfil obligations in connection with employee incentive programs and board remuneration. Any shares purchased will be held in treasury until used for the above purposes.

The buyback program will be managed by Arctic Securities AS, which will make its trading decisions in relation to the acquisition of shares independently of, and uninfluenced by, the Company.

The transactions will be conducted in accordance with the Market Abuse Regulation (EU) No 596/2014, Commission Delegated Regulation (EU) 2016/1052 and Euronext Oslo Børs’ Guidelines for buyback programs and stabilization dated February 2021.

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The mining solutions provider utilises digital and automated technologies to create safer, more productive and sustainable mining operations on behalf of its customers. In addition, the company aims to apply this digital approach to its own operations. The client’s manufacturing site in Canada has therefore selected ESCO’s asset integrity management unit to develop a bill of materials (BoM) and spare parts pilot project to streamline its inventory management processes through SAP, its computerised maintenance management system (CMMS).

This contract marks the expansion of ESCO’s consultancy service to support mining industries. Currently, ESCO primarily provides its services to the renewable energy, oil and gas, and maritime industries, however its solutions in AIM and energy transition can be applied to bring value to a wider pool of industries including manufacturing, healthcare, food and drink, among others.

This pilot project focuses on enhancing asset integrity management and inventory management practices, underlining the industry-agnostic capabilities of this service line.

ESCO’s Calgary office will spearhead the project in collaboration with the client’s local team in Canada.

“Our local presence in Calgary has been pivotal in fostering a collaborative relationship with our client as we can leverage on-site support to enhance project outcomes. Diversifying our portfolio by expanding to the mining sector is exciting for us as our technology and AIM services can be applied to any industry. We look forward to delivering high-quality results and nurturing a strong working relationship with our client,”

says Afia McClenaghan, managing director of ESCO’s asset integrity management team in Canada.

ESCO’s operations in Canada cover Calgary and Halifax

Our Canadian Asset Integrity Management team are based in Calgary and can support your business by offering invaluable advice and helping to implement a range of fully optimised asset management strategies including:

• Maintenance strategy optimisation
• Benchmarking and analysis
• Data migration
• Inventory and materials management
• Process safety management
• Asset life extension
• Training and competency

The post ESCO Appointed to Digitise Canadian Mining Asset Base appeared first on ESCO.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act and requirements under the EU Market
Abuse Regulation.

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29.04.2025 – Annual Report

26.02.2025 – Quarterly Report – Q4

FINANCIAL YEAR 2025

20.08.2025 – Half-yearly Report
28.05.2025 – Annual General Meeting

07.05.2025 – Quarterly Report – Q1
30.10.2025 – Quarterly Report – Q3

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Declared currency: NOK

Last day, including right: 1 November 2024

Ex-date: 4 November 2024

Record date: 5 November 2024

Payment date: On or about 27 November 2024

Date of approval: 30 October 2024

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and requirements under the EU Market Abuse Regulation.

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• Revenues of USD 86.2 million (Q3 23: USD 70.4 million)
• Operating profit of USD 2.5 million (Q3 23: USD 5.5 million)
• Adjusted EBIT of USD 3.0 million (Q3 23: USD 6.2 million)
• Net cash of USD 7.9 million (Q2 24: USD 10.8 million)
• Continued M&A activity: Ross Offshore fully consolidated from Q3 2024, and Hidromod completed immediately after Q3 close
• Semi-annual dividend of NOK 0.40 per share declared, to be paid in November

Owain Segal, CEO of ESCO Consultants ASA (“ESCO Consultants” or the “Company”) commented:

“In Q3 2024 we saw a small increase in our EBIT to USD 3.0 million, despite our USD 0.5 million investment in the JMC diversification programme, but were unable to emulate the exceptional performance delivered by the group this quarter in 2023. Our offshore wind market remains challenging, but in other markets we see reasonable demand. The consolidation of Ross Offshore has grown the market presence of our DGL segment, which is now our largest segment measured by revenues and delivered strong performance despite ongoing integration.

The oil & gas, renewables and maritime markets remain solid long-term propositions, and we maintain a strong presence in many key geographies. Near term, as we have seen with offshore wind in the past 12 months, energy markets more broadly are finding a new equilibrium. This leads to shorter-term decision making, but ESCO Consultants is well placed to benefit from the upside to come and will continue to seek accretive M&A opportunities.”

A presentation of the quarterly results will be held today at 08:30 CET at SpareBank 1 Markets’ office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after. To watch the webcast, please visit our Reports and Presentations page.

The earnings release concerning the quarterly results and a corresponding slide presentation are available on www.newsweb.no and on our Reports and Presentations page.

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.

The post ESCO Consultants ASA: Q3 2024 financial results appeared first on ESCO.

A presentation of the quarterly results will be held the same day at 08:30 CET at SpareBank 1 Markets’ office at Olav Vs gate 5, 0161 Oslo. The event will be webcast live and available for replay shortly after.

The webcast can be viewed at ESCO Consultants’s website, www.escoconsultants.com/abl, or directly at https://channel.royalcast.com/landingpage/hegnarmedia/20241031_2/

If you would like to attend the event in person, please notify SpareBank 1 Markets at corporateaccess@sb1markets.no.

The earnings release concerning the quarterly results and a corresponding slide presentation will be posted on www.newsweb.no and on our Reports and Presentations page.

The post ESCO Consultants ASA: Invitation to presentation of Q3 2024 results appeared first on ESCO.

REEF is a large-scale liquefied petroleum gas (LPG) and bulk liquids terminal with rail, logistics and marine infrastructure on Ridley Island, British Columbia, Canada.

ESCO’s scope of work includes marine advisory and MWS for the transportation of critical and heavy project cargo, from both international and domestic suppliers.

For the early planning phase, ESCO’s marine advisory support services comprises commercial and technical bid evaluations as well as engineering design support. For the execution phase, ESCO’s MWS services include independent third-party engineering review, vessel inspection, and site representation during cargo handling and transportation from overseas fabrication locations to Canada.

ESCO’s involvement has already commenced and will continue until the first quarter of 2026. ESCO has not disclosed the value of its contract.

ESCO’s operation in Canada will lead the project, with support from ESCO’s offices in Houston, Texas, and China.

“The REEF project will receive critical equipment from several corners of the world. Our job is to help make sure it arrives safely on site. Our global office network of marine transportation specialists will play a key role in achieving this,”

says David Ballands, ESCO’s director of energy services in the Americas region.

About ESCO Maritime in North America

ESCO’s extensive marine surveyor and consultancy footprint runs coast-to-coast in Canada and the USA, supporting with the full range of marine assurance & risk services, ports and harbours consultancy, and maritime consultancy, both for risk mitigation and in casualty management scenarios.

ESCO’s operations in Canada cover Calgary and Halifax.

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