Latest quarterly results
NORBIT reported revenues for the second quarter of 2020 of NOK 155.2 million, compared to NOK 169.7 million for the corresponding period of 2019. For the first half of 2020, the company had revenues of NOK 306.7 million, compared to NOK 327.3 million for the same period of 2019.
“I am pleased to see that we manage both to increase our revenues and improve our margins from the previous quarter, despite the challenges we experience in most aspects of our business following the pandemic. We see signs of improvement in several markets and regions, and the positive market response received on the recently launched WINGHEAD sonar confirms our strategy to invest in broadening our product portfolio,” says Per Jørgen Weisethaunet, CEO of NORBIT.
To view NORBIT’s stock exchange notices on the Oslo Børs news site, please click HERE.
NORBIT ASA will publish its financial results as follows:
|28 October 2020||Third quarter 2020|
|10 February 2021||Fourth quarter 2020|
The results will be published to the Oslo Stock Exchange Newsweb and to the Company’s homepage at around 07:00 am. The management will host a presentation of the results. Further information about the presentations will be communicated. The dates are subject to changes.
NORBIT has two primary sources of financing: A short-term facility of NOK 130 million (1M NIBOR + 1.4% margin) and a long-term facility of NOK 150 million (3M NIBOR + 1.8% margin). Both facilities are with the Norwegian bank DNB.
As per 30 June 2020, NORBIT had undrawn facilities of NOK 247.3 million.