Q3 revenue was NOK 676.7m, up 34% YoY; EBIT rose 53% to NOK 115.5m at a 17% margin, with growth across all segments.
9M revenue reached NOK 2,240.4m, up 31% YoY; EBIT was NOK 476.6m at a 21% margin.
The board approved an additional NOK 2.00/share dividend for FY 2025, bringing the total to NOK 7.00/share.
Q3 organic revenue growth was 28%, or 33% in constant currency; Q3 gross margin was 56% versus 57% YoY.
Q3 EBITDA was NOK 169.2m versus NOK 114.7m; profit was NOK 71.8m versus NOK 51.8m, and diluted EPS was NOK 1.12 versus NOK 0.81.
Q3 net financial items were negative NOK 23.5m, including NOK 18.3m net interest expense and NOK 5.2m in other financial items and FX losses.
Q3 operating cash flow was NOK 101.1m; cash flow conversion was 60% for the quarter and 94% YTD.
Q3 operating expenses included NOK 5.6m in Water Linked transaction costs; employee expenses also rose with acquisition, organisational growth and wage inflation.
FY 2026 guidance is NOK 3.0–3.1bn revenue and a 21%–22% EBIT margin, including Water Linked and related transaction costs.
Q4 revenue expectations: Oceans above NOK 300m, Connectivity NOK 250–270m and PIR NOK 250–270m.
Oceans expects a seasonal Q4 uplift, healthy sonar backlog and higher security-project revenue recognition; late-December activity makes the uplift difficult to forecast.
FY 2026 investment guidance is NOK 130–140m in R&D and ~NOK 110m in fixed assets, including Water Linked.
2030 ambitions include organic revenue above NOK 6.0bn, EBIT margin of 20%–25%, ROCE above 30% and NIBD/EBITDA of 1.0x–2.5x.
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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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