Financial report 2Q/First half 2017 28.08.2017

Please find attached the financial report for TTS Group ASA 2Q 2017.

Highlights are:

• 2Q 2017 revenues increased with more than 10% vs 1Q 2017 to MNOK 556, but notable lower than the same period last year.
• Continued positive underlying operations, with a 2Q 2017 EBITDA excl. restructuring of MNOK 36. Reported EBITDA was MNOK 29.
• Improved EBITDA margin despite reduced business volume confirms successful implementation of cost reduction program
• 1H EBITDA was MNOK 46 excluding restructuring costs. Reported EBITDA of MNOK 9 impacted by restructuring cost of MNOK 37, of which MNOK 30 in 1Q from restructuring cost in Multipurpose/General cargo, and MNOK 7 in 2Q related to restructuring of the corporate functions.