Latest quarterly results
NORBIT reported revenues for the first quarter of 2021 of NOK 148.7 million, compared with NOK 151.6 million in the same quarter previous year. The company achieved an EBITDA for the quarter of NOK 17.7 million, representing a 12 per cent margin.
Oceans grew by 32 per cent in a seasonally slow quarter and revenues came in at NOK 68.5 million with an EBITDA margin of 31 per cent. PIR increased its revenues by 7 per cent to NOK 67.2 million, driven by higher sales of contract manufacturing and R&D services, and reported improved profitability.
“We are satisfied with the strong growth in both Oceans and PIR during the quarter. The demand for sonar systems is solid with Oceans delivering multiple WINGHEAD sonars to a leading global survey company. PIR experienced higher activity in contract manufacturing and following a certification for manufacturing of medical devices we are now ready to provide tailored products and solutions also to customers in the healthcare industry”, says Per Jørgen Weisethaunet, CEO of NORBIT.
CEO Per Jørgen Weisethaunet and CFO Per Kristian Reppe will present the results from 10:00 through a webinar hosted by Pareto Securities.
Alternatively dial-in using the following details: +47 21 40 23 11 and conference-ID: 661833965#.
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:
|11 May 2021||First quarter 2021|
|13 August 2021||Half-yearly report 2021|
|11 November 2021||Third quarter 2021|
|15 February 2022||Fourth quarter 2021|
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).
As per 30 December 2020, NORBIT had undrawn committed credit facilities of NOK 199.9 million.