Financial report 3Q 2017 07.11.2017

Please find attached the financial report for TTS Group ASA 3Q 2017.

Highlights are:

• 3Q 2017 revenues increased with 4% vs 2Q 2017 to MNOK 578, but lower than the same period last year.
• Continued positive trend in operations with a 3Q EBITDA of MNOK 49 excluding restructuring costs of MNOK 3, hence reported EBITDA is MNOK 46.
• Improved EBITDA margin despite reduced business volume confirms successful implementation of cost reduction program
• YTD EBITDA was MNOK 95 excluding restructuring costs with an EBITDA margin of 5.8% vs 4.3% in 2016. Reported EBITDA of MNOK 55 impacted by restructuring cost of MNOK 40, of which MNOK 3 was related to 3Q restructuring of Services.
• Cash flow from operations has improved MNOK 35 from 2Q to MNOK 59.


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