In 2019, NORBIT had another year with strong profitable growth. The group recorded revenues of NOK 668 million, representing a 52 per cent growth and an EBITDA margin of 22 per cent.
The board of directors of NORBIT approved the company’s annual report for 2019 on 16 March 2020. There are no changes to the results compared to the preliminary year-end results presented on 14 February 2020.
“We delivered another year with strong and profitable growth, and successfully broadened our product offering to new carefully selected niches, in line with our strategy. I am truly pleased to see that all our operating units are delivering solid results. This has been made possible by our highly skilled and committed colleagues that work hard every day,” Per Jørgen Weisethaunet, CEO of NORBIT, writes in his letter to shareholders.
“Also, our listing on Oslo Børs marked a new chapter of our 25-year history, preparing ourselves to explore more. Many compare an IPO to a marathon because it requires preparation and persistence. For us the listing day was the starting-line, not the finish-line,” Weisethaunet continues.
“These days, the world is facing tremendous challenges related to the COVID-19 virus, spreading at an exponential growth rate around the world. We are monitoring the situation carefully and initiating actions ongoing, to protect our employees, our society, our operations, our customers and all other stakeholders that might be affected,” Weisethaunet ends.
NORBIT’s annual report for 2019 is available here: Financial reports
For more information, please contact:
Charlotte Knudsen, IR and Communications, +47 9756 1959
About NORBIT ASA
NORBIT is a global provider of tailored technology to carefully selected niches. The company’s business is structured to address its key markets; Oceans, targeting the global maritime markets, Intelligent Traffic Systems (ITS), offering connectivity solutions for truck applications, and Product Innovation and Realization (PIR), with in-house multidisciplinary R&D and manufacturing.
NORBIT is headquartered in Trondheim, Norway, with manufacturing facilities in Selbu and Røros, Norway and 12 offices and subsidiaries around the world.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.