Cambi ASA

Earnings Release • Mar 7, 2024

Cambi ASA: Fourth-quarter and full-year 2023 results

Cambi ASA: Fourth-quarter and full-year 2023 results

Asker, Norway, 7 March 2024

Cambi delivered a solid financial performance in the fourth quarter and for the full year 2023, with increasing operating income and profitability. The operating income in 2023 more than doubled compared to 2022. A substantial order backlog provides good financial visibility for future activity. The Board has proposed distributing shareholder dividends of NOK 1.00 per share for the fiscal year 2023. Cambi reiterates its ambition to pay out dividends of 60-80% of net profits for the fiscal year 2024.

Key highlights

(in NOK million)

Key highlights Q4 2023:

- Operating income: NOK 294 million

- EBITDA: NOK 59 million

- Order intake: NOK 46 million

- Order backlog: NOK 1,542 million

Key highlights FY 2023:

- Operating income: NOK 977 million

- EBITDA: NOK 249 million

- Order intake: NOK 1,453 million

- Order backlog: NOK 1,542 million

Comment from Cambi’s CEO, Eirik Fadnes

“We are thrilled to share our fourth-quarter results, marking a phenomenal year at Cambi with an all-time high operating income for the quarter and the full year. I am extremely proud of the team’s achievements as we continue to be a reliable and trusted partner for many water utilities worldwide, delivering high-quality projects on time and budget. Our team's dedication has propelled us to seven new cities, bringing our innovative solutions to an additional 6 million people, more than Norway's population. The growing demand in our Services division and Grønn Vekst's remarkable achievements underline our momentum. As we reflect on our accomplishments, we are eager to explore future opportunities.”

Webcast

The results will be presented online today at 10:00 am CET via livestream accessible at https://www.cambi.com/investors/livestream/.

Questions can be emailed to Investor Relations at investor@cambi.com before and during the event and will be answered after the presentation. A presentation recording will be accessible on the website.

The complete report and slides can be found on Cambi’s website (https://www.cambi.com/investors/reports-and-presentations/) and NewsWeb (https://newsweb.oslobors.no/).

For more information, please contact:

Eirik Fadnes, CEO, +47 907 20 014, eirik.fadnes@cambi.com

Mats Tristan Tjemsland, CFO, +47 920 67 094, mats.tjemsland@cambi.com

About Cambi:

Cambi is a global biogas technology and solutions supplier for wastewater treatment plants and anaerobic digestion facilities. Since 1992, Cambi has retained market leadership through continuous innovation and a robust portfolio of proven and patented technologies. With strong project delivery and customer support capabilities, the company has delivered well-performing installations in 27 countries across the globe.

Cambi’s thermal hydrolysis process increases renewable energy output, reduces operational costs, and minimises greenhouse gas emissions. It is suitable for all biosolids outlets, including land application and thermal processes such as drying, pyrolysis, and incineration. Thermal hydrolysis is compatible with all sludge and waste treatment regulations and easy to integrate at new and existing anaerobic digestion sites.

Cambi is listed on Euronext Growth Oslo, a multilateral trading facility in Euronext, Europe’s largest stock exchange platform. Find out more at cambi.com.