Norbit Asa (NBITF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Norbit's fourth quarter and full year 2025 presentation. As you will see, 2025 was another record year for Norbit. For a growth company, records are meant to be broken, while the focus must remain on what can be improved. It's a privilege to be part of an organization that continuously seeks improvements and aims higher. Let's dive into the numbers. For the full year of 2025, we delivered 2.5 billion Norwegian kroner in revenues. That's an increase of 43% from 2024. The profitability improved, so we had an EBIT of 555 million Norwegian kroner, representing 22% EBIT margin. Earnings per share came in at 6.32. That's 61% increase from the 3.93 in 2024. The executive board of the company has proposed a dividend of 5 Norwegian kroner per share. So we'll give you some more details around that in Periklistan's financial presentation. Looking into the quarter, the fourth quarter is also the best quarter in the company's history with 42% revenue increase compared to Q4 2024. Segment connectivity and PIR contributed to the growth. EBIT ended at 178.4 million. It's a 33% EBIT margin. So looking into the segments, generally the fourth quarter is, the trend is that that's the best quarter for oceans. This year Q4 came in slower than expected. Comparing to a strong Q4 2024, we see a decrease of 21%. with revenues of 213. The decline year over year is explained by lower sales of security solutions and sub-bottom profilers and less budget flushing during December than the year before. We could also mention that the 75 million NOC security project won in 2024. Still, it is not recognized any revenues on, but an export license is received. The margins in that quarter came in at 26%, down from 37% the year before. For the full year of 2025, It's a quite good development, as...