Norbit Group AS

Earnings Release • Aug 14, 2025

NORBIT - Results for the second quarter 2025

NORBIT - Results for the second quarter 2025

Trondheim, 14 August 2025: In the second quarter, NORBIT recorded revenues of

NOK 684.4 million, an increase of 63 per cent from the corresponding quarter of

2024. The EBIT result was NOK 174.2 million, representing a margin of 25 per

cent. Diluted earnings per share were NOK 2.06 for the second quarter, up from

NOK 1.20 one year earlier.

* The Oceans segment delivered revenues of NOK 239.4 million, an increase of 22

per cent from the same quarter in 2024 supported by strong sonar sales. The EBIT

margin was 36 per cent.

* The Connectivity segment reported NOK 169.8 million in revenues, an increase

of 67 per cent from second quarter 2024, and an EBIT margin of 32 per cent.

* The Product Innovation & Realization (PIR) segment saw revenues of 293.1

million, corresponding to a growth of 118 per cent from the same period of 2024

due to strong demand from the defence and security sector. The EBIT margin was

20 per cent.

"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", says Per

Jørgen Weisethaunet, CEO of NORBIT.

"We are driven by a development-oriented mindset, where preparedness and

scalability remain daily priorities as we gear up for continued growth. Also

this quarter, we identified improvement opportunities - both within our own

organization and in collaboration with key partners across the value chains in

which we operate. 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", says Weisethaunet.

The outlook for NORBIT remains positive, supported by continued high activity in

all three business segments. After a record first half of the year, where NORBIT

reported revenue growth of 46 per cent and an EBIT margin of 25 per cent, the

targets for the year are increased. Based on current outlook, the revenue target

for 2025 is raised to NOK 2.5 - 2.6 billion from NOK 2.2 - 2.3 billion earlier,

while the EBIT margin is forecasted to around 25 per cent.

Attached is the report for the first half-year and the presentation material.

CEO Per Jørgen Weisethaunet and CFO Per Kristian Reppe will present the results

at 09:00 am CEST. Participants are welcome to join the event at SpareBank 1

Markets in Olav Vs gate 5, Oslo, or to follow the event via webcast. Please use

the following link to register for the webcast:

https://channel.royalcast.com/landingpage/hegnarmedia/20250814_11/

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 provider of tailored technology to selected applications,

solving challenges and promoting sustainability 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. The Oceans segment delivers tailored technology

solutions to global maritime markets. The Connectivity segment provides wireless

solutions for identification, monitoring and tracking. The Product Innovation &

Realization segment offers R&D services, proprietary products, and contract

manufacturing to key customers. NORBIT is headquartered in Trondheim with

manufacturing in Europe and North America, has around 600 employees, 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, 14 August 2025 at 07.00 CEST.