Latest quarterly results
NORBIT reported revenues for the third quarter of 2020 of NOK 150.0 million, compared to NOK 154.4 million for the corresponding period of 2019. The Oceans segment had a strong quarter, delivering all-time high revenues and a 64 per cent growth year over year. On the contrary, the ITS segment had a challenging quarter as expected, remaining impacted by the pandemic. The company’s PIR segment delivered revenues in line with the corresponding quarter of 2019 and a slightly improved EBITDA margin.
“The results this quarter demonstrate that our diversified product offering, targeting different industries and geographies, make us robust. The strong results for segment Oceans are driven by our organization’s ability to deliver to a global market and successfully introduce new products, despite challenging market conditions,” 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.