NORBIT's Remarkable Growth in the Second Quarter
In a notable achievement, NORBIT has announced its financial results for the second quarter of the year, showcasing a remarkable increase in revenues. The company recorded an impressive NOK 684.4 million in revenue, signifying a robust growth of 63 percent compared to the same quarter the previous year. The earnings before interest and taxes (EBIT) stood at NOK 174.2 million, reflecting a healthy margin of 25 percent. This translates to a diluted earnings per share of NOK 2.06, up from NOK 1.20 a year prior.
Performance Across Business Segments
Breaking down the segments, NORBIT's Oceans segment contributed NOK 239.4 million in revenues, marking a 22 percent increase from the comparable quarter in 2024, fueled primarily by strong sonar sales, yielding an EBIT margin of 36 percent.
Meanwhile, the Connectivity segment saw remarkable growth, reporting NOK 169.8 million in revenues—a staggering 67 percent increase year-over-year, and an EBIT margin of 32 percent. The Product Innovation & Realization (PIR) segment exhibited the most extraordinary growth, achieving revenues of NOK 293.1 million, which corresponds to an impressive 118 percent rise from the prior year, thanks to increased demand from the defense and security sectors. This segment maintained an EBIT margin of 20 percent, underscoring the successful execution of their strategies.
Leadership Insights on Future Growth
CEO Per Jørgen Weisethaunet expressed pride in the company's performance, stating, "With another record-breaking quarter behind us, NORBIT colleagues across all segments have once again demonstrated the strength of our core value #1: We deliver! By delivering tailored technology to selected applications across segments, markets, and geographies, we have built a well-diversified business that provides a strong foundation for continued profitable growth."
He further added, "We are driven by a development-oriented mindset, where preparedness and scalability remain daily priorities as we gear up for continued growth. This quarter, we identified improvement opportunities - both within our own organization and in collaboration with key partners across the value chains we operate in. The experience we carry forward strengthens our ability to scale and allows us to raise our ambitions further. With strong demand, dedicated teams, and a growth-oriented mindset, NORBIT is equipped to Explore More."
Positive Outlook for Business Segments
NORBIT's future outlook appears optimistic, as activity remains high across all three business segments. After a record-breaking first half of the year, revenues surged by 46 percent, while EBIT margin remained steady at 25 percent. With this trend, the company has raised its revenue targets for the year, projecting between NOK 2.5 to 2.6 billion, up from prior estimates of NOK 2.2 to 2.3 billion. Additionally, they forecast an EBIT margin of around 25 percent, reflecting their ongoing commitment to excellence.
Corporate Structure and Commitment to Sustainability
NORBIT is structured into three primary business segments: Oceans, Connectivity, and Product Innovation & Realization. The Oceans segment focuses on tailored technology solutions for global maritime markets, while Connectivity provides wireless solutions for various applications, including identification and monitoring. The Product Innovation & Realization segment excels in R&D services and contract manufacturing for key customers. Headquartered in Trondheim, NORBIT boasts a workforce of around 600 employees, with manufacturing facilities across Europe and North America, ensuring a robust global presence.
Contact Information for Inquiries
For any further inquiries regarding NORBIT or its performance, please feel free to reach out:
Contact: Per Jørgen Weisethaunet, CEO, +47 959 62 915
Contact: Per Kristian Reppe, CFO, +47 900 33 203
Frequently Asked Questions
What were NORBIT's revenues in Q2 2025?
NORBIT recorded revenues of NOK 684.4 million in the second quarter of 2025.
How much did EBIT increase in this quarter?
The EBIT for this quarter stood at NOK 174.2 million, maintaining a margin of 25 percent.
Which segment showed the highest growth?
The Product Innovation & Realization segment saw the highest growth of 118 percent in revenue compared to the same period last year.
What future projections does NORBIT have?
NORBIT has raised its revenue target for 2025 to NOK 2.5 – 2.6 billion, indicating continued positive growth.
Who can I contact for more information about NORBIT?
You may contact CEO Per Jørgen Weisethaunet or CFO Per Kristian Reppe for further inquiries.
