Dovre Group Plc Press Release January 31, 2020 at 11.45am



Information of legal restructuring in Norway



In order to strengthen Dovre Group´s position even further, Dovre Group has reorganised its business in Norway and has transferred all consultants and clients outside the energy sector from Dovre Group Projects AS to Dovre Group Consulting AS.

The new organizational structure combines those businesses that have specific features in the energy sector as one entity and those with core expertise in consulting as one entity. The new structure enables Dovre´s personnel to utilize their expertise and full potential better in the management of customer projects and in developing Dovre’s business.

«We want to take actively part in the energy transformation from oil and gas to renewable energy and further continue our diversification by strengthening our consulting into other markets. Therefore, from January 2020, we will supply our services from two fit-for-purpose companies in Norway», says Arve Jensen, CEO of the Dovre Group.

Dovre Group Energy AS, earlier Dovre Group Projects AS, focuses on supplying project personnel to clients within the energy sector such as , oil and gas -, hydro -, wind - , solar -, nuclear and bio power companies. The company has currently approximately 325 consultants and staff engaged in Norway. The company includes also the business of Tech4hire AS, which the Group acquired in June 2019. Dovre Group Energy AS will be reported as part of Project Personnel segment in the Group’s financial reporting.



Dovre Group Consulting AS focuses on consulting within project management and supplying of project personnel to clients within transportation, buildings and property, IT & communication, health, defense, finance and insurance sectors. The company delivers also advisory services within the energy sector and has currently approximately 80 consultants and staff engaged in Norway. This company will be reported as part of Consulting segment in the Group’s financial reporting.

The changes will not have any effect on the legal structures in other units outside Norway. Other units will continue to serve all clients with large projects in the energy sector and other industries. This change strengthens Dovre Group’s business and position in Norway. It also reflects the underlying business better than the earlier operating model.



For further information, please contact:

Dovre Group Plc
Arve Jensen
CEO
(arve.jensen@dovregroup.com)

Dovre Group Plc
Mari Paski
CFO
(mari.paski@dovregroup.com)



Dovre Group is a global provider of project management services. Dovre Group delivers both Project Personnel and Consulting services to projects worldwide. Dovre Group has offices in Canada, Finland, Norway, Singapore and the US, and employs more than 650 people worldwide. Dovre Group is listed on the Nasdaq Helsinki (symbol: DOV1V). Company website www.dovregroup.com.