NORDIC TECHNOLOGY (NTG) H1 2025 earnings summary

Executive summary

• Consolidated revenue for 1H 2025 was NOK 18.8 million, down from NOK 22.7 million in 1H 2024, mainly from Hammertech AS and MossHydro AS.

• Net operating loss for 1H 2025 was NOK 77.4 million, an improvement from NOK 88.3 million loss in 1H 2024.

• CondAlign AS was excluded from 1H 2025 consolidation after a full write-down at year-end 2024.

• A capital raise of NOK 70.9 million was completed in June 2025, with NOK 50.9 million in cash and NOK 20 million in debt conversion.

Financial highlights

• Total operating expenses decreased to NOK 96.2 million in 1H 2025 from NOK 111.0 million in 1H 2024.

• Depreciation and amortization expenses were NOK 41.1 million in 1H 2025, down from NOK 56.1 million in 1H 2024.

• Net loss for the period was NOK 80.8 million, compared to NOK 91.4 million in 1H 2024.

• Cash balance at 30 June 2025 was NOK 4.4 million, down from NOK 6.7 million at year-end 2024.

• Book value of equity at 30 June 2025 was NOK 287.2 million, with an equity ratio of 67.7%.

Outlook and guidance

• Management expects Wavetrain Systems, Hammertech, and Hystorsys to require additional liquidity for commercialization and growth.

• Capital raise initiatives are underway for Wavetrain Systems and Hammertech; Hystorsys will be supported by the parent company.

• Focus is shifting to the sensor technology business area for long-term growth and adaptability.

• There is considerable risk to going concern if required liquidity is not secured.