Goodtech (GOD) Q4 2025 earnings summary

Executive summary

• Net operating revenue after external project costs grew 13% year-over-year in Q4 2025 to 141.8 MNOK, with full-year revenue up 11% to 522.1 MNOK.

• EBITA margin improved to 11.0% in Q4 2025 (from 2.9%), and full-year EBITA margin rose to 8.4% (from 4.7%).

• Profit from continuing operations increased to 29.8 MNOK for 2025, with EPS up to 1.03 NOK.

• Order intake in Q4 2025 was 218 MNOK, with a year-end backlog of 336 MNOK.

• Board proposes a dividend of NOK 0.50 per share, about 50% of net profit after tax for continuing operations.

Financial highlights

• Q4 2025 EBITDA was 21.5 MNOK (15.1% margin), up from 9.9 MNOK (7.9%) in Q4 2024.

• Full-year 2025 EBITDA reached 67.3 MNOK (12.9% margin), up from 44.0 MNOK (9.4%).

• EBIT for Q4 2025 was 13.2 MNOK (9.3% margin), and for the year 36.6 MNOK (7.0% margin).

• Cash and cash equivalents at year-end were 127 MNOK, with no interest-bearing debt.

• Equity ratio improved to 54% at year-end.

Outlook and guidance

• Focus remains on operational excellence and disciplined project execution.

• Aftermarket and lifecycle services are expected to increase stable, higher-margin revenue.

• Diversified industry exposure provides resilience; strong activity levels continue, though larger projects face longer decision cycles due to geopolitical uncertainties.