Q3 2025 revenues reached NOK 505.4 million, up 36% year-over-year, with EBIT of NOK 75.4 million and a 15% margin.
Nine-month revenues totaled NOK 1,711.5 million, up 43% year-over-year, with EBIT up 92% to NOK 377.0 million (22% margin).
All three business segments contributed to growth, with Oceans and PIR showing significant profitability improvements.
Diluted EPS for Q3 was NOK 0.81, up from NOK 0.55 a year earlier.
Extraordinary dividend of NOK 3.00 per share was declared, reflecting strong financial position.
Q3 EBITDA was NOK 114.7 million (23% margin), up from NOK 86.6 million year-over-year.
Gross margin for Q3 was 57%, down from 63% last year, mainly due to segment mix and product obsolescence.
Net income for Q3 was NOK 51.8 million, up from NOK 35.1 million year-over-year.
Net interest-bearing debt at quarter-end was NOK 320.5 million, equity ratio at 50%.
Cash flow from operations was negative NOK 1.9 million, mainly due to increased working capital.
Full-year 2025 revenue guidance is NOK 2.5–2.6 billion, with EBIT margin expected between 24% and 25%.
Q4 expected to be record-setting, with Oceans segment revenues forecast above NOK 230 million, Connectivity between NOK 200–240 million, and PIR between NOK 390–420 million.
PIR segment revenues from defense and security anticipated to exceed NOK 700 million for the year.
Some GNSS OBU revenues shifted to Q1 2025 due to production delays.
Continued focus on value-accretive acquisitions to supplement organic growth.
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Norbit is a multinational company headquartered in Trondheim, Norway, and the stock is listed on the Oslo Stock Exchange. They are a technology company with a primary focus on various sonar solutions used for mapping, navigation, and exploration. Aside from their underwater solutions, which are produced by the aptly named division Oceans, Norbit has two other areas of operations. These are Connectivity and Product Innovation & Realization (PIR). In the Connectivity division, the company provides customized wireless solutions for identification, monitoring, and tracking. Meanwhile, the PIR division provides clients with R&D services, products, and contract manufacturing.
Norbit's business segment Oceans is squarely focused on delivering tailored technology solutions to the global maritime markets. With an emphasis on practicality and functionality, the division offers products that cater to specific needs within the maritime sector such as underwater mapping and hydrography. The solutions can also be used for environmental monitoring, ensuring that underwater activities don’t negatively impact the ecosystem. Additionally, the tools they offer for maritime traffic management help day-to-day operations and enhance safety across busy shipping routes.
The Connectivity business segment focuses on providing tailored wireless solutions. At its core, this division builds systems that enhance identification, monitoring, and tracking. The wireless solutions offered are paramount for sectors that demand real-time tracking, such as logistics, where accurate cargo location and status updates are crucial. In addition, the identification tools can be utilized in industries like retail for inventory management or security for access control. By optimizing monitoring capabilities, sectors such as agriculture or infrastructure can use timely data on equipment or structural health. Essentially, Norbit's Connectivity arm equips businesses across various sectors with the tools needed to operate more efficiently.
Norbit's Product Innovation & Realization (PIR) segment operates at the intersection of research, development, and manufacturing. Its core offerings encompass R&D services and products, with a capability to turn innovative ideas into tangible, market-ready solutions. The PIR segment works closely with customers, regardless of whether a tech startup is looking to realize its first prototype or an established company is seeking to innovate its current systems.
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