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Cambi (CAMBI) investor relations material
Cambi Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue reached a record NOK 342 million, up 12% year-over-year, driven by strong project delivery and demand in Technology and Solutions segments.
EBITDA declined 8% to NOK 75 million due to higher operating expenses and a less favorable revenue mix.
Net profit increased to NOK 90 million, supported by NOK 24 million in unrealized currency gains from hedging USD cash flows.
Order backlog stood at NOK 938 million, providing visibility into 2026 but highlighting the need for new contract awards.
Strategic acquisition of a 51% stake in CNP CYCLES GmbH expands technology offerings and market presence in Germany.
Financial highlights
Revenue hit an all-time high of NOK 342 million, up from NOK 306 million in Q2 2024.
Gross margin was 49%, down from 53% last year but improved sequentially.
Operating expenses increased to NOK 94 million, reflecting organizational investments and higher payroll.
Cash and cash equivalents at quarter-end were NOK 156 million, up from NOK 100 million in Q1 2025.
Dividend of NOK 0.30 per share paid; Board authorized up to NOK 0.70 per share more, contingent on project milestones.
Outlook and guidance
80% of the backlog expected to convert to revenue within the next year; 95% of Technology backlog to be executed by 2026.
Revenue dip possible in 2026 due to project schedules and lower order intake.
Sustained global demand for sustainable sludge treatment, driven by high energy costs and regulatory drivers in Europe and the US.
Board authorized to approve up to NOK 0.70 per share in additional dividends, subject to project milestones and liquidity.
Exploring US-based manufacturing to reduce tariff exposure and comply with "Buy America" provisions.
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