Record success for the next quarter of 2021
Trondheim, 13 August 2021: NORBIT reports revenues for the second quarter of 2021 of NOK 190 million and an EBITDA of NOK 50.5 million, its ideal financial quarter in history. For the initial half of 2021, the company had revenues of NOK 338.7 million, in contrast to NOK 306.7 million for the identical period of time of 2020.
NORBIT is supplying an update on its ambitions and extensive-time period fiscal targets. According to the updated plan, the company’s ambition is to produce natural revenues in excess of NOK 1.5 billion and an EBITDA margin over 25 for each cent in 2024. In addition, NORBIT is continuing to go after price-accretive acquisitions to accelerate growth further more.
Segment Oceans revenues grew by 73 for each cent calendar year above yr to a file substantial NOK 101.5 million, with an EBITDA margin of 44 per cent. In segment Product Innovation & Realization (PIR), revenues grew to NOK 78.5 million pushed by an maximize in exercise each on deal manufacturing and R&D products and services, even though revenues for the Intelligent Site visitors Programs (ITS) phase amounted to NOK 16.4 million for the next quarter.
“Oceans shipped a strong quarter with advancement mostly attributed to a sturdy sonar sale, exactly where revenues elevated across all geographies. We are pleased to see that the new sonar family members WINGHEAD is a major contributor now a person year just after the marketplace introduction. This displays that our sector driven R&D investments crank out an desirable return profile” suggests For every Jørgen Weisethaunet, CEO of NORBIT.
NORBIT expects continued significant activity in Oceans for the 2nd fifty percent of 2021, the place fourth quarter traditionally has been the seasonally strongest quarter. For PIR, revenues for the subsequent two quarters are expected to maximize from the degree noted in the second quarter supported by increasing exercise towards some more substantial buyers in get hold of production. NORBIT expects revenues in just phase ITS to exceed NOK 100 million in the 2nd fifty percent and a margin uplift, supported by a short while ago declared On-Board Models contracts and completion of the acquisition of iData.
“Considering the fact that 2010, NORBIT has developed its revenues by near to 30 for each cent for every calendar year on ordinary, generally organic, and at the exact same time remained business to our goal of offering sustained and profitable advancement. As we get ready for the subsequent phase of our expansion method, we intend to boost the features that have served the corporation properly in the past, which includes industry-driven innovation to cautiously chosen niches, recruiting and refining of prime skills, using our world income and distribution platform and a robust corporate tradition of generally exploring a lot more”, states For each Jørgen Weisethaunet
To 2024, Oceans’ strategic target stays on broadening the item portfolio as a result of R&D investments, strengthening its place and using gain of the established global distribution. Benefiting from the investments produced in increasing the producing potential, the strategic objective in PIR stays to organically mature the phase by entering new field verticals in agreement production. ITS is embarking on a system to improve a new sub-section based on picked IoT 5G area of interest programs, benefiting from NORBIT’s experience within just low energy wireless equipment and complementing ITS’ existing place in the focused short-vary communication (DSRC) domain. The ambition is to appreciably maximize the share of profits produced from membership-based company models, the place the acquisition of iData is a cornerstone accelerating this system.
“Our ambition of NOK 1.5 billion in revenues in 2024 indicates a growth charge of 25 for each cent for each calendar year from 2020, in line with historic natural and organic advancement efficiency. In addition, we will continue to discover worth-accretive acquisitions to accelerate progress additional. Succeeding with the strategy necessitates sustained money robustness and a solid balance sheet, ensuring the required adaptability to develop and make use of funds. We search ahead to the following chapter of the NORBIT growth journey, ” says Per Jørgen Weisethaunet.
CEO Per Jørgen Weisethaunet and CFO For every Kristian Reppe will current the success right now at 10:00 CEST as a result of a webinar hosted by SpareBank 1 Marketplaces. Please use the subsequent url to sign up for the webinar: https://attendee.gotowebinar.com/sign-up/5701754357001800203.
For a lot more data, remember to speak to:
For each Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203
About NORBIT ASA
NORBIT is a world provider of tailored technology to very carefully selected niches. The company’s company is structured to tackle its crucial markets Oceans is supplying customized technological know-how answers to global maritime markets, Smart Traffic Programs (ITS) is featuring connectivity options for motor vehicle identification and monitoring, and Item Innovation and Realization (PIR) is supplying R&D expert services and deal producing to essential shoppers.
NORBIT is headquartered in Trondheim, Norway, with manufacturing amenities in Selbu and Røros, Norway and 15 workplaces and subsidiaries all over the earth.
This info is regarded as to be within information and facts pursuant to the EU Market place Abuse Regulation and is matter to the disclosure necessities pursuant to Segment 5-12 the Norwegian Securities Investing Act. This inventory exchange announcement was revealed by Elise Heidenreich, Trader Relations at NORBIT ASA, on 13 August 2021 at 07:00 CEST.
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