NORBIT – Results for the first quarter 2023
Trondheim, 16 May 2023: In the first quarter, NORBIT reached all-time high revenues of NOK 376.7 million, corresponding to a growth of 60 per cent from the first quarter of 2022, supported by strong demand in all three business segments.
The EBITDA result was NOK 104.3 million in the first quarter, representing a margin of 28 per cent, up from NOK 43.9 million and 19 per cent in the corresponding quarter of 2022.
Earnings per share for the quarter were NOK 0.88 compared to NOK 0.21 one year earlier.
- The combination of continued strong demand and dedication across all levels of our organisation, has resulted in record high revenues and growth and further margin expansion. We are eager to continue to tailor technology that can enable our customers to «Explore More», says Per Jørgen Weisethaunet, CEO of NORBIT.
Order intake has been strong in the first months of 2023, particularly within segment Connectivity, which has announced contracts for close to NOK 1.0 billion. This includes two On-Board Unit contracts with a value of approximately NOK 420 million and a frame agreement for delivery of tachograph enforcement modules with an estimated value in excess of NOK 500 million.
- Over the last years, NORBIT has made significant investments in broadening the product offering, expanding the production capacity and increasing inventories to maintain a safety stock of components to safeguard deliveries and seize opportunities. These strategic decisions have been an enabler for organic growth and enhanced the flexibility, positioning NORBIT to deliver on larger contracts, Weisethaunet adds.
The outlook for NORBIT remains positive. Second quarter is expected to be yet another strong quarter with continued high activity in all three business segments. The guidance for the year is reiterated, where the targets are to deliver revenues in excess of NOK 1.4 billion and continued margin improvement.
Attached is the report for the first quarter and the presentation material.
A presentation of the results will be held by CEO Per Jørgen Weisethaunet and CFO Per Kristian Reppe at 10:00 CEST. The presentation will be hosted by Arctic Securities via a live webcast.
Please use the following link to view the webcast:
For further queries, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203
About NORBIT ASA
NORBIT is a global company providing tailored technology to selected applications, by solving challenges through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets: Oceans, Connectivity and Product Innovation & Realization (PIR). The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment provides tailored wireless solutions for identification, monitoring and tracking. The PIR segment offers R&D services, proprietary products, and contract manufacturing to key customers. NORBIT has around 450 employees, with headquarter in Trondheim, R&D and manufacturing in Norway and Hungary, and a worldwide sales and distribution platform.
For more information: www.norbit.com
This information counts as insider information and must be disclosed in accordance with the Market Abuse Regulation and the Norwegian Securities Trading Act §5-12.
This stock exchange announcement was published by Elise Heidenreich, Investor Relations in NORBIT ASA, 16 May 2023 at 07.00 CEST.
AttachmentsTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Seafood “Canton Fair” Brings New Business Opportunities to Seize the China Seafood Market2.6.2023 04:17:37 CEST | Press release
GUANGZHOU, China, June 01, 2023 (GLOBE NEWSWIRE) -- The Global Seafood Trade Fair will be held in Guangzhou, China, from June 28th to 30th, 2023. It is organized by the China Aquatic Products Processing and Marketing Alliance and the China Aquatic Production Chamber of Commerce and managed by Wuhan Shihedao Network Technology Co., Ltd. With over 800 exhibitors and a 40,000 ㎡exhibition area, the Global Seafood Trade Fair will showcase a wide range of aquatic products, frozen goods, processed seafood, and related equipment, covering the entire industry chain of production, processing, and seafood trade. In addition, the exhibition will hold more than 20 onsite events, providing exhibitors with multiple opportunities for business exchange and collaboration, focusing on matching supply and demand, and promoting an efficient one-stop procurement and communication platform. This exhibition will provide you with a unique opportunity to explore the global catering market as well as go deeper i
Webull Australia avails Cboe US Options2.6.2023 01:00:00 CEST | Press release
SYDNEY, Australia, June 02, 2023 (GLOBE NEWSWIRE) -- Webull Securities (Australia) Pty. Ltd. ("Webull AU"), an Australian brokerage firm licensed by the Australian Securities Investment Commission that operates on the popular Webull trading platform, has announced the launch of a suite of Cboe Global Markets (Cboe) US index options on 23 April 2023. This new offering allows Australian retail investors access to cash-settled index options trading through Cboe’s popular US options suite, including the S&P 500 Index (SPX) options, Cboe Volatility Index (VIX) options and Mini-S&P 500 Index (XSP) options. The addition is an extension to Webull AU's existing US options offering and furthers Cboe’s and Webull’s commitment to offering new and innovative products and education resources to retail investors across the globe. The S&P 500 Index is the global benchmark of large-cap US equities and the VIX Index is the world's premier gauge of expected US equity market volatility. The introduction o
Westport Announces Effective Date of Share Consolidation1.6.2023 23:00:00 CEST | Press release
VANCOUVER, British Columbia, June 01, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX:WPRT / Nasdaq: WPRT) a global leader in low-emissions alternative fuel transportation technologies is pleased to announce, further to its April 26, 2023 press release, the completion of the Company's proposed consolidation of its common shares ("Common Shares") on the basis of (1) new post-consolidation Common Share for every ten (10) existing pre-consolidation Common Shares (the "Consolidation"). As of the date hereof, and following the Consolidation, there are 17,174,972 Common Shares issued and outstanding. Immediately prior to the Consolidation, the Company had 171,751,409 Common Shares issued and outstanding. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional shares that would otherwise be issued will be rounded down to the nearest whole Common Share. A letter of transmittal with respect to the Consolidation is being
Constellation Brands to Report First Quarter Fiscal 2024 Financial Results; Host Conference Call June 30, 20231.6.2023 22:30:41 CEST | Press release
VICTOR, N.Y., June 01, 2023 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today it will report financial results for its first quarter ended May 31, 2023, on Friday, June 30, 2023, before the open of the U.S. markets. A conference call to discuss the financial results and outlook will be hosted by President and Chief Executive Officer, Bill Newlands, and Executive Vice President and Chief Financial Officer, Garth Hankinson, at 10:30 a.m. EDT, June 30, 2023. The conference call can be accessed by dialing +1-877-407-9121 and entering conference identification number 13739041, beginning at 10:20 a.m. EDT. A live, listen-only webcast of the conference call will be available on the company’s investor relations website at ir.cbrands.com under the News & Events section. When the call begins, financial information discussed on the conference call, and reconciliations of reported GAAP financial measures with comparable and other non-GA
Amlan International Names Beijing Zhongnong Pasture Biotechnology Co., Ltd. as Master Distributor in China1.6.2023 22:03:55 CEST | Press release
CHICAGO, June 01, 2023 (GLOBE NEWSWIRE) -- Amlan® International, the animal health business of Oil-Dri® Corporation of America and a global leader in mineral-based feed additives that optimize the intestinal health of poultry and livestock, is proud to announce its strategic restructuring plans for the China business. To streamline distribution and increase efficiency, Amlan has chosen Beijing Zhongnong Pasture Biotechnology Co., Ltd. as its master distributor in China. The strategic decision recognizes the significance of the Chinese market and Amlan’s successful longstanding partnership with Zhongnong. In 2021, China had the world’s largest swine meat production, 53 million MT, producing 44% of global production. Additionally, China was the world’s second largest broiler meat producer, producing 14.7 million MT, and the world’s third largest milk producer, producing 36.8 million MT in the same year. With nearly 20 years of experience serving the Chinese feed and farming industry, Zho