SmartCraft ASA

Earnings Release • Dec 18, 2025

SmartCraft segment history

Distribution of revenue per segment

Amounts in NOK (million)	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
SME Construction	53.0	52.9	50.6	50.7	48.1	46.7	45.7	45.5	41.6	42.0	39.2
Electro	16.9	17.2	16.7	15.9	15.1	14.8	14.7	13.9	12.9	14.4	12.2
HVAC & Plumbing	32.0	32.8	32.9	32.1	31.3	32.6	32.4	30.4	28.7	29.2	28.7
Enterprise	35.8	37.7	36.7	37.5	37.4	38.9	16.9	17.2	16.4	15.2	14.1
Total revenue per segment	137.8	140.6	137.0	136.2	131.9	133.0	109.6	107.0	99.7	100.9	94.2
Organic growth
SME Construction	7.6 %	8.3 %	8.9 %	10.9 %	10.6 %	12.1 %	13.7 %	14.3 %	13.9 %	11.9 %	13.1 %
Electro	9.5 %	10.7 %	11.2 %	13.4 %	11.6 %	3.8 %	17.1 %	13.6 %	12.0 %	29.8 %	13.1 %
HVAC & Plumbing	2.1 %	0.8 %	1.8 %	5.8 %	9.0 %	11.4 %	12.5 %	11.9 %	15.3 %	18.2 %	14.1 %
Enterprise	-4.5 %	-15.3 %	0.2 %	0.7 %	0.6 %	-8.7 %	-8.5 %	-3.5 %	-1.1 %	6.2 %	5.5 %
Distribution of adjusted EBITDA per segment*
Amounts in NOK (million) SME Construction Electro HVAC & Plumbing	Q3'25 29.8 3.8 16.2	Q2'25 28.2 5.6 17.6	Q1'25 25.7 2.7 16.4	Q4'24 29.3 3.6 15.1	Q3'24 27.3 3.4 16.3	Q2'24 26.0 3.7 17.8	Q1'24 26.3 4.1 16.5	Q4'23 24.9 4.9 15.0	Q3'23 23.1 3.2 15.5	Q2'23 21.4 6.8 16.5	Q1'23 18.2 6.6 14.4
Enterprise	4.3	6.0	5.8	5.8	7.9	10.2	3.8	4.2	4.9	4.4	4.4
Adjusted EBITDA per segment	54.1	57.3	50.5	53.7	54.9	57.7	50.6	49.1	46.7	49.2	43.6
*Excluding overhead
Adjusted EBITDA margin
SME Construction	56.2 %	53.3 %	50.7 %	57.7 %	56.7 %	55.8 %	57.5 %	54.8 %	55.6 %	51.0 %	46.5 %
Electro	22.3 %	32.5 %	15.9 %	22.5 %	22.6 %	24.7 %	27.5 %	35.2 %	25.2 %	47.5 %	54.0 %
HVAC & Plumbing	50.7 %	53.5 %	49.8 %	47.1 %	52.1 %	54.6 %	51.0 %	49.5 %	53.7 %	56.4 %	50.0 %

Excel file available at smartcraft.com/investor-relations/reports-presentations/