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Shaping the future of ocean industries Nekkar is a long-term owner of technology companies within ocean-based industries. The company invests along structural megatrends such as sustainable oceans, robotics and intelligent logistics, and digitalisation. With a 50-year industrial legacy from Syncrolift, Nekkar applies an active buy-to own strategy to build sustainable value. Financial results, Q3 2025 Presented by Ole Falk Hansen, CEO
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By reading this company presentation (the “Presentation”), or attending any meeting or oral presentation held in relation thereto, you (the “Recipient”) agree to be bound by the following terms, conditions and limitations. The Presentation has been produced by Nekkar ASA (the “Company”) for information purposes only and does not in itself constitute, and should not be construed as, an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction. The distribution of this Presentation may be restricted by law in certain jurisdictions, and the Recipient should inform itself about, and observe, any such restriction. Any failure to comply with such restrictions may constitute a violation of the laws of any such jurisdiction. The Recipient acknowledge that it will be solely responsible for its own assessment of the Company, the market and the market position of the Company and that it will conduct its own analysis and be solely responsible for forming its own view of the potential future performance of the Company’s business. The Company shall not have any liability whatsoever (in negligence or otherwise) arising directly or indirectly from the use of this Presentation or its contents, including but not limited to any liability for errors, inaccuracies, omissions or misleading statements in this Presentation, or violation of distribution restrictions. An investment in the Company involves significant risk, and several factors could adversely affect the business, legal or financial position of the Company or the value of its securities. For a description of relevant risk factors we refer to the Company’s annual report for 2024, available on the Company’s website www.nekkar.com. Should one or more of these or other risks and uncertainties materialize, actual results may vary significantly from those described in this Presentation. An investment in the Company is suitable only for investors who understand the risk factors associated with this type of investment and who can afford a loss of all or part of their investment. This Presentation contains certain forward-looking statements relating to inter alia the business, financial performance and results of the Company and the industry in which it operates. Any forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts and are subject to risks, uncertainties and other factors that may cause actual results and events to be materially different from those expected or implied by the forward-looking statements. The Company cannot provide any assurance that the assumptions underlying such forward-looking statements are free from errors nor do any of them accept any responsibility for the future accuracy of opinions expressed in this Presentation or the actual occurrence of forecasted developments. This Presentation speaks as at the date set out on herein. Neither the delivery of this Presentation nor any further discussions of the Company shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. The Company does not assume any obligation to update or revise the Presentation or disclose any changes or revisions to the information contained in the Presentation (including in relation to forward-looking statements). This Presentation is subject to Norwegian law, and any dispute arising in respect of this Presentation is subject to the exclusive jurisdiction of Norwegian courts. Disclaimer 2
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Capital markets day 3 CMD 2025 Investor visibility At 09:15, Nekkar will hold a Capital Markets Day at its Syncrolift offices in Vestby outside of Oslo The event will not be broadcasted digitally, but slides will be uploaded to our new website at www.nekkar.com Key themes includes a walkthrough of Nekkar ASA’s corporate strategy and deep dives into Syncrolift and FiiZK Practical information
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Diversified exposure across four end- markets Nekkar drives innovation in defense, aquaculture, offshore energy, and maritime Maritime 35% Defense 33% Aquaculture 19% Offshore energy 13% Engineering growth, Shaping the future 4 Nekkar is a long-term owner of technology companies within ocean-based industries Key facts Employees 133 2024 EBITDA % 15% HQ Kristiansand 2024 MNOK revenues 624 Operating companies 5 OSE Stock listing NKR About Note! Share of revenues per market segment are calculated based on 2024 pro-forma revenues Disciplined growth through a buy-to- own model Combining a strong balance sheet with a portfolio spanning mature market leaders and growing businesses.
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Operating companies 5 Our companies Syncrolift 58% of Nekkar revenue in 2024 Market-leading provider of shiplifts and ship transfer systems for shipyards and naval projects 100% OWNERSHIP Intellilift 5% of Nekkar revenue in 2024 Industrial software solutions provider that digitalizes workflows through automation and remote-controlled systems for drilling and offshore load handling 51% OWNERSHIP Globetech 11% of Nekkar revenue in 2024 Provides ICT infrastructure connectivity and cybersecurity services to maritime ships and vessels Option to acquire 100% 67% OWNERSHIP Techano Oceanlift 7% of Nekkar revenue in 2024 Intelligent load handling and lifting equipment for offshore renewables, energy, and aquaculture Option to acquire 100% 90% OWNERSHIP FiiZK Aquaculture supplier focused on closed containment systems with associated software, maintenance, and services Option to acquire 100% 39% OWNERSHIP About Note! Share of 2024 revenues presented on a pro-forma basis 19% of Nekkar revenue in 2024 Operating company Associated company
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Focus on four end-markets 6 Thematic focus Diversified exposure across four end- markets Percentages refer to share of pro- forma revenue 2024 including FiiZK and Globetech full year Maritime 35% Defense 33% Aquaculture 19% Offshore energy 13% Defense Maritime Aquaculture Offshore energy About
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Highlights Q3 2025 7 Quarterly update Award of 4x Protectus closed containment systems subsequent to the quarter FiiZK Financials Net profit EPS EBITDA Revenues MNOK 124 (140) EBITDA Margin (last year quarter) MNOK 3 (14) 2.5% (10.3%) MNOK -5 (42) NOK -0.05 (0.40)Intellilift • New rig live with InteliWell automation package in Q3 • Additional contract signed for 2x new rigs with InteliWell automation package (post quarter end) Syncrolift • Two ship transfer systems contract signed with DMC (July) • Vizag service contract signed subsequent to the quarter (MNOK 40 over 2 years) • Opening of Innovation and training center in Vestby Quarterly update Order backlog Cash flow from business Cash + Treasury shares (cost price) Order intake MNOK 170 + 80 MNOK 117 (83) MNOK 740 (704) MNOK -32 (-1)
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Key financials 8 Per quarter Revenue EBITDA & Margin 140 181 111 139 124 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 14 27 -12 -12 3 -15 -10 -5 0 5 10 15 20 25 30 35 40 45 50 10.3% Q3 24 15.1% Q4 24 -10.9% Q1 25 -8.6% Q2 25 2.5% Q3 25 MNOK MNOK Quarterly update
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Order intake & order backlog 9 Per quarter Order intake Order backlog 83 187 155 147 117 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 704 744 757 753 740 0 5 10 15 20 25 30 35 40 45 50 0 100 200 300 400 500 600 700 800 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Note! 1. Does not account for FX fluctuations in existing contracts, 2. Order intake/backlog does not include MUSD 24 option with ASMAR Chile or FiiZK’s orders Not included – subsequent to the quarter Inteliwell announced 2 awards FiiZK not consolidated in Nekkar order intake nor order backlog MNOK MNOK Quarterly update
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10 The leading provider of safe & efficient ship lift and transfer systems for yards Employees 55 Ownership 100% Head office Vestby, NO Manager Rolf-Atle Tomassen Est 1958 Market & Sales • Vizag service contract signed subsequent to the quarter of MNOK 40 over two years • Two ship transfer systems contract signed with DMC (July) • Continued high tendering activity driven by defense megatrends – timing uncertainty on several projects due to government planning and infrastructure requirements • Defense market outlook remains favorable, making up a substantial share of tendering activity Financials • Second quarter revenue down YoY driven by lower activity as new project awards are taking longer than anticipated Operations • Ongoing projects with solid execution and cash generation • Flexible operating model with outsourced production enables scale up in activity level as tenders pass award stage • Decent service activity, with both upgrades and spare parts driving favorable development 110 132 65 72 58 21% 26% -1% 4% 9% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Revenue & EBITDA %, MNOK 2 2 3 2021 2022 2023 2024 2025 0 0 93 96 106 107 103 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Aftermarket revenue LTM, MNOK Won/lost new build projects Operating companies Won Lost
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11 Order backlog New build tender pipeline MNOK Per 13.11.2025 Solid tender activity but timing sensitivity remains 2025/26 277 2027--> Total 300 577 2025/26 3.500 2027+-> Total 7.000 3.500 Note! Execution period and timing of contract awards may be impacted by external factors outside of Nekkar’s control. Order intake/backlog does not include MUSD 24 option with ASMAR Chile MNOK Per 30.09.2025 Operating companies
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12 The leading supplier of sea-based closed containment systems for salmon farming Employees 43 Ownership 39% Head office Trondheim, NO Manager Jan Erik Kvingedal Est 2019 Market & Sales • Award of 4x orders to undisclosed leading Norwegian fish farmer • “Miljøfleksordning” approved by the Norwegian government now in effect (October) • The continued interest in closed fish technology is expected to develop positively due to the implementation of the abovementioned “Miljøfleksordning” Financials • Third quarter revenue driven by Protectus project activity for 2x awarded projects • Nekkar’s share of FiiZK’s quarterly profit of MNOK -4.6 • 2025 profitability impacted by market entry projects and investment into product development Operations • The breakthrough contract for 2x Protectus systems to Mowi is progressing well with arrival to location for final assembly and installation • Delivery scheduled for the fourth quarter of 2025 Installed closed containment systems 40 11 23 41 78 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 22 22 22 22 22 6 Q3 24 2 Q4 24 2 Q1 25 2 Q2 25 Q3 25 24 24 24 28 Installed Ordered Operating companies Revenue, MNOK per 13.11.2025 Note! Nekkar owns 39 percent of FiiZK, which is defined as an associated company and not consolidated into Nekkar ASA’s financial accounts
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13 Awarded 4 new Protectus closed containment systems Award Customer: leading Norwegian fish farmer Post quarter-end, FiiZK has been awarded four Protectus closed containment systems to a leading Norwegian fish farmer The Protectus systems will according to plan be delivered in series of two through the end of 2026 and beginning of 2027 Leading position The award aligns with the new “Miljøfleksordningen” incentives for closed systems in red zones, enabling biomass growth in environmentally restricted areas By end-2025, FiiZK will have delivered 24 closed systems with more than 70 completed production cycles This award further strengthens FiiZK’s market leadership in the fast-growing segment Operating companies
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14 Additionally, 2x Protectus systems now being delivered to Mowi Mowi Slåttenes • Order for FiiZK one year ago for 2x Protectus to a leading Norwegian fish farmer • The two Protectus systems are currently being installed at Mowi Region South’s farm site Slåttenes – all major components finalized and transported to site • Mowi plans for fish in the new closed containment systems by end-2025 • Slåttenes is already equipped with two FiiZK Ecomerden systems (the predecessor to Protectus) P R 2 P R 1 Operating companies
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15 Leading provider of software, automation, and control systems for drilling and maritime industries Employees 20 Ownership 51% Head office Kristiansand, NO Manager Stig Trydal Est 2018 Market & Sales • Strong interest for Intellilft’s automation SaaS solution from InteliWell (JV with Transocean) • InteliWell signed a SaaS agreement in November for automation services on Transocean Deepwater Titan • Undisclosed new SaaS agreement for InteliWell in November Financials • Continued solid activity level throughout the third quarter • Growth in external project orders drives positive development Operations • New rig live with InteliWell automation package - Transocean Deepwater Conqueror • A new software integration technology was also successfully delivered to a major oil company • Deliveries to other Nekkar companies progressing with good activity Revenue & EBITDA %, MNOK Installed rig automation systems 12 13 19 15 17 5% 12% 16% 14% 30% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 1 1 1 2 3 2 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 5 Installed Ordered Operating companies per 13.11.2025
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16 Continued trust from Transocean Customer example – Rig automation xxx 2x InteliWell contract awards to deliver drilling automation solutions for Transocean. The contracts cover automation of tripping and drilling connections where Intellilift will provide installation and software services for a fixed-sum project plus recurring SaaS revenues Conqueror Titan Third deployment of the InteliWell platform Scope: InteliAutomate & InteliTrak for tripping and drilling connections Installed & commissioned in September 2025, in just 4 days Delivery model: fixed-sum installation + recurring SaaS Fourth deployment, expanding use across Transocean fleet Scope: InteliAutomate & InteliTrak for tripping and drilling connections Installation planned for Q4 2025 Delivery model: Fixed-sum installation + recurring SaaS Operating companies
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17 Globetech provides IT and cybersecurity solutions for ships and the global maritime industry Employees 31 Ownership 67% Head office Kristiansand, NO Manager Hans Eirik Onarheim Est 2011 Market & Sales • Acquired Firstpoint, a maritime IT provider in Gdynia, Poland, adding 23 vessels to the fleet of contracted vessels (subsequent to the quarter) • Signed a revised frame agreement with a major ship management company, expanding potential fleet coverage Financials • Continued solid operations and profitability • Quarterly variations driven by postponed ship upgrades Operations • Continued focus on developing people, technology, systems, and processes to enable scalability 21% 30% 24% 28% 19% 0 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 21 28 27 25 23 Revenue & EBITDA %, MNOK 160 160 166 176 194 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 47% Q3 24 45% Q4 24 46% Q1 25 47% Q2 25 46% Q3 25 64 93 101 107 104 Repeat % of LTM revenues, MNOK Operating companies Contracted vessels per 13.11.2025
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18 Lifting and load handling equipment for use in offshore, maritime, and aquaculture Employees 19 Ownership 90% Head office Kristiansand, NO Manager Nils Stray Est 2023 Market & Sales • Continues to tender for a “handful” of solid leads within renewable, subsea and aqua • Focus on “repeat” product deliveries with known cost and risk Financials • EBITDA: Improved results, still challenging with MNOK -5 in the quarter. Progress on newly signed projects generating larger share of revenues • Continues to expect favorable development through the coming quarters as market entry projects mature and recent awards advance Operations • Market entry projects – assembly and testing as key focus • Starting up production of 2025 awarded repeat projects according to plan • Improved cost control and follow up in all phases 10 12 11 35 32 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Revenue & EBITDA %, MNOK -43% -66% -115% -41% -17% Operating companies
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Select financial highlights 19 Q3 2025 Financials Revenue • Revenue in Q3 2025 declined by 12% compared to the same period last year, due to lower activity in Syncrolift, where new project awards have not materialized at the expected timeframe, partly offset by increased revenue in both Globetech, Techano Oceanlift and Intellilift. Profitability • EBITDA of MNOK 3 (2.5%) in Q3 2025 driven by low volume in Syncrolift and still low margins in Techano Oceanlift (MNOK -5) • Q3 net financial items include Nekkar’s share of FiiZK’s quarterly profit of MNOK -4.6, interest income and FX effects. Sales • Quarterly order intake of MNOK 117, driven by order intake in Syncrolift, hereunder the DMC contract announced in July Profit & Loss MNOK Q3 2025 Q3 2024 YTD 2025 YTD 2024 2024 Revenue 124 140 374 442 624 Syncrolift 58 110 194 360 492 Intellilift 17 12 51 31 44 Techano Oceanlift 32 10 78 52 64 Globetech 23 9 75 9 38 Other incl. eliminations -6 -2 -25 -10 -13 EBITDA 3 14 -21 65 92 EBIT -2 11 -34 57 81 Net finance -4 34 7 27 19 Profit (loss) before tax -6 46 -27 84 100 Income tax expense 0 4 -4 13 14 Profit (loss) for the period -5 42 -23 71 86 EBITDA margin 2.5% 10.3% -5.6% 14.7% 14.8% Net capitalized development costs1 3 6 10 17 23 Order intake 117 83 418 286 474 Order backlog 740 704 740 704 744 EPS (NOK) -0.05 0.40 -0.23 0.68 0.82 1. Net of received funding
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Financials per operating company 20 Q3 2025 Financials Note: Globetech financials presented on a pro-forma basis and not adjusted for date of entry into Nekkar. Further information available in Excel upload to Nekkar webpage Revenue EBITDA Q3 25 57.9 5.2 Q3 24 109.7 22.5 YTD 25 194.3 7.3 YTD 24 359.9 85.3 EBITDA margin 9% 20% 4% 24% EBIT 4.6 21.9 5.4 83.6 2024 491.8 119.0 24% 116.7 Revenue EBITDA Q3 25 16.7 5.0 Q3 24 12.4 0.6 YTD 25 50.5 10.0 YTD 24 31.1 3.7 EBITDA margin 30% 5% 20% 12% EBIT 4.1 0.3 2024 43.7 5.3 12% 3.9 Revenue EBITDA Q3 25 32.1 -5.4 Q3 24 10.5 -4.5 YTD 25 78.4 -32.7 YTD 24 51.7 -2.2 EBITDA margin -17% -43% -42% -4% EBIT (5.9) (4.5) (33.9) (2.3) 2024 63.5 -10.0 -16% (10.5) Revenue EBITDA Q3 25 23.1 4.5 Q3 24 YTD 25 75.2 18.1 YTD 24 EBITDA margin 19% 24% 22% EBIT EBIT margin 3.7 16% 15.6 20% 21% 21% 2024 93.0 22.0 24% 22.0 24% EBIT margin 8% 20% 3% 23% 24% 8.3 2.7 EBIT margin 25% 2% 16% 9% 9% EBIT margin -18% -43% -43% -5% -17% 21% 20.1 4.3 4.1 64.0 14.0 13.6 Syncrolift Techano Oceanlift Intellilift Globetech
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MNOK 30.09.2025 30.06.2025 31.12.2024 ASSETS Intangible assets and goodwill 206 206 202 Deferred tax assets 0 0 0 Right of use assets 25 26 15 Tangible assets 11 10 10 Financial assets 73 77 84 Inventory 18 20 18 Accrued non invoiced production 86 128 118 Trade receivables 108 120 152 Other short-term receivables 46 9 14 Derivative financial instruments 10 7 0 Bank deposits 170 225 205 Total assets 751 830 819 LIABILITIES Deferred tax liabilities 28 30 37 Long term provision 56 56 34 Lease liabilities 25 27 15 Trade payables 39 54 45 Prepayments from customers 114 119 75 Derivative financial instruments 0 1 11 Other current liabilities 93 125 113 Total equity 396 417 489 Total liabilities & equity 751 830 819 Net working capital 18 -10 57 Balance sheet 21 Q3 2025 Financials Assets • MNOK 70 in financial assets per Q3 from FiiZK investment, down from MNOK 81 per Q4 last year Working capital • Working capital of MNOK 18, an increase of MNOK 28 compared with Q2 driven by a Cash • Quarter-end cash position of MNOK 170, down from 225 per Q2, impacted by increased working capital and share buy-backs og MNOK 17 • MNOK 200 undrawn credit facility, ensuring continued financial flexibility Treasury shares • Number of shares held at quarter end: 8 054 282 • Average purchase price (NOK): 10.16 Long term liabilities and equity • Long-term provision of MNOK 56 relates to the estimated 2028 cash payment for the remaining 33% of Globetech. The MNOK 22 increase since year-end reflects higher estimated liability due to improved profitability • No interest-bearing debt • Solid equity with a 53 % equity ratio
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Cash flow 22 Q3 2025 Financials Cash flow development • Cash flow from business was negative at MNOK 32 in Q3 2025 primarily due to increased working capital • Cash outflow of MNOK 17 related to the purchase of treasury shares in the period • Dividend payout of MNOK 6 to minority shareholders in Globetech as a result of the acquisition price adjustment • Total net cash outflow for the quarter of MNOK 55 225 193 -17 Share buy-backs -6 Cash 30.06.25 170 Cash 30.09.25 3 EBITDA -28 Change in NWC -4 Expenditures fixed and intangible assets 1 Net financial items -3 Taxes paid -1 Payment of lease liabilitites Cash 30.09.25 from business Dividend to minority shareholders -32 MNOK
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Strong financial foundation 23 Q3 2025 Net cash position Treasury shares Undrawn debt facilityToolbox for growth Solid financial capacity and disciplined capital allocation enable us to invest in long-term value creation Expecting continued solid operational cash flow going forward Interest bearing debt 0 Net cash MNOK 170 Average purchase price NOK 10.16 Number of shares 8 054 282 Credit facility MNOK 200 Financials Book value MNOK 80
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Summary & outlook 24 Q3 2025 Globetech • Completed first add-on acquisition, adding 23 vessels • Continue organic and inorganic growth in # vessels served Techano Oceanlift • Focus on solid execution and delivery of existing projects Syncrolift • Two ship transfer systems contract signed with DMC (July) • Vizag service contract signed subsequent to the quarter • Defence exposure provides good outlook with high tendering activity Financials Award of 4x Protectus closed containment systems Short term “Miljøfleksordning“ with key incentives for using closed containment systems Longer term, “Havbruksmelding” released, highlighting key focus on fish welfare, lice and mortality FiiZK Intellilift One new rig operational with SaaS contract through Inteliwell JV Signed 2 rigs on SaaS contracts through InteliWell JV Well positioned to win additional contracts Nekkar continues to develop its operating companies towards the 2027 ambition well equipped with a solid balance sheet to also navigate inorganic opportunities
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nekkar.com
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Alternative performance measures 26 NEKKAR ASA INTRODUCTION TO ALTERNATIVE PERFORMANCE MEASURES (APMs) Nekkar Group (Nekkar) discloses alternative performance measures in addition to those normally required by IFRS. Nekkar is of the opinion that APMs are providing enhanced insight into the operations and prospects of the company. APMs are used as an integral part of the management and board of directors’ key performance measure reporting and controls. Furthermore, securities analysts, investors and other interested parties frequently use such performance measures. BASIS FOR PREPARATION This presentation provides financial highlights for the third quarter 2025 for Nekkar ASA. The consolidated financial statements for Q3 have been prepared in accordance with IAS 34 Interim Financial Statements, however the interim accounts do not include all the information required for a full financial statement and should therefore be read in connection with the audited consolidated financial statements of 2024. The financial figures are not audited. PROFIT MEASURES EBITDA is short for “earnings before interest, taxes, depreciation and amortisation” in the consolidated income statement. EBIT is short for “earnings before interest and taxes”. EBIT corresponds to “operating profit/loss” in the consolidated income statement. Margins such as EBITDA and EBIT are used to compare relative profit between periods. The margins are calculated as EBITDA or EBIT divided by revenue. ORDER INTAKE MEASURES Order intake and order backlog are presented as APMs as they are indicators of the company’s revenue generation and operations in the future. Order intake includes new signed contracts in the period, in addition to expansion of existing contracts and any cancellations of contracts. For new build contracts, the order intake is based on the signed contract value excluding potential options and change orders. Order backlog represents the estimated value of remaining work for signed contracts. CASH FLOW FROM BUSINESS Cash flow from business is defined as total cash flow from operating, investing, and financing activities, adjusted to exclude share buy-backs and M&A-related cash flows. This measure is intended to reflect the company’s recurring business cash generation.
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Consolidated statement of comprehensive income 27 Amounts in NOK 1000 Q3 2025 Q3 2024 YTD 2025 YTD 2024 2024 OPERATING REVENUE Sales revenue 123.697 140.305 373.855 442.363 623.508 Total revenue 123.697 140.305 373.855 442.363 623.508 OPERATING EXPENSES Material, goods and services 66.649 76.543 212.232 242.992 333.722 Personnel costs 40.349 37.450 136.362 98.656 146.455 Losses on accounts receivable 0 -72 2.400 -72 700 Depreciation of fixed and intangible assets 4.849 2.967 13.179 7.801 11.616 Other operation expenses 13.627 11.993 43.884 35.907 50.400 Total Operating Expenses 125.473 128.882 408.057 385.284 542.892 Operating profit / (loss) -1.776 11.423 -34.201 57.079 80.615 FINANCIAL INCOME AND EXPENSES Financial income 4.035 4.249 35.365 13.690 27.288 Financial expense 3.181 242 16.769 15.765 42.563 Share of net profit (loss) from equity-accounted investees -4.639 30.137 -11.618 29.124 34.451 Net finance -3.785 34.144 6.978 27.049 19.176 Profit/loss before tax -5.561 45.568 -27.224 84.128 99.791 Income tax expense -272 4.031 -3.837 12.769 13.920 Profit for the period -5.290 41.537 -23.387 71.359 85.872 OTHER COMPREHENSIVE INCOME Items that may be reclassified subsequently to profit or loss Foreign currency differences for foreign operations 0 0 0 0 0 Total comprehensive income for the period -5.290 41.537 -23.387 71.359 85.872 Attributable to equity holders of the company -6.981 41.642 -26.428 70.619 82.670 Attributable to non-controlling interests 1.691 -105 3.041 740 3.202 Earnings per share (NOK) -0,05 0,40 -0,23 0,69 0,82 Diluted earnings per share (NOK) -0,05 0,40 -0,23 0,69 0,82
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Consolidated statement of financial position 28 Unaudited Audited Amounts in NOK 1000 Q3 2025 2024 ASSETS NON-CURRENT ASSETS Deferred tax assets 217 216 Goodwill 106.132 106.132 Other intangible assets 99.735 96.238 Property, plant and equipment 11.096 10.113 Equity-accounted investees 70.545 82.163 Other financial assets 2.033 1.884 Right of use assets 24.574 14.524 Total non-current assets 314.332 311.270 CURRENT ASSETS Inventories 17.524 17.991 Trade receivables 108.092 151.819 Other receivables 45.721 14.409 Accrued non-invoiced production 85.986 118.136 Derivative financial instruments 9.611 0 Cash and cash equivalents 170.024 204.937 Total current assets 436.958 507.292 Total assets 751.289 818.563 Unaudited Audited Q3 2025 2024 EQUITY AND LIABILITIES EQUITY Issued share capital 11.817 11.817 Treasury shares -886 -483 Share premium 9.206 9.206 Other equity 309.505 398.033 Shareholders equity 329.642 418.574 Non-controlling interest 66.684 70.026 Total equity 396.326 488.599 NON-CURRENT ASSETS Deferred tax 27.928 36.981 Lease liabilities 18.072 9.083 Non-current provision 55.809 33.767 Total non-current liabilities 101.809 79.831 CURRENT LIABILITIES Trade payables 38.751 45.080 Income tax payable 5.214 4.944 Social Security and Employee taxes 8.058 11.684 Prepayment from customers 113.908 74.629 Derivative financial instruments 0 11.037 Current lease liabilties 7.173 6.039 Current lease liabilties 0 0 Other current liabilities 80.049 96.720 Total current liabilities 253.154 250.133 Total liabilities 354.963 329.964 Total equity and liabilities 751.289 818.563
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Consolidated statement of financial position 29 Unaudited Unaudited Unaudited Unaudited Audited Amounts in NOK 1000 Q3 2025 Q3 2024 YTD 2025 YTD 2024 31.12.2024 Cash flow from operating activities Profit (loss) before tax -5.561 45.568 -21.662 84.128 99.791 Adjustments for: Depreciation / impairment 4.849 2.860 8.330 7.695 11.616 Share of net (profit)loss from equity accounted investee 4.639 -30.137 6.978 -29.124 -34.451 Income tax paid -2.638 - -2.304 -1.568 172 Changes in: Inventories 2.934 -1.882 -2.470 -7.583 -3.364 Trade receivables -12.202 -9.817 34.849 4.001 -53.430 Trade payables 8.305 12.477 5.816 -31.922 -14.763 Accrued, non-invoiced production 41.756 -16.839 -9.606 -16.469 27.457 Prepayment -5.198 -14.842 44.477 2.527 35.627 Other receivables and other payables -63.132 18.095 -8.570 53.533 72.895 Net cash flow from operating activities -26.249 5.482 55.837 65.217 141.550 Cash flow from investment activities Acquisition and expenditures of fixed/intangible assets -4.461 -6.255 -8.585 -18.237 -25.121 Acquisition of Subsidiary - net of Cash acquired - -56.299 - -56.299 -56.299 Net cash flow from investment activities -4.461 -62.554 -8.585 -74.536 -81.420 Cash flow from financing activities Purchase of treasury shares -16.717 -10.635 -24.450 -26.450 -48.779 Net proceeds from share-program employees - 877 606 3.712 4.318 Dividends paid -6.382 - - - - Payment of lease liabilities -1.457 -1.274 -3.056 -3.477 -4.894 Net cash flow from financing activities -24.556 -11.032 -26.900 -26.215 -49.355 Net change in cash and cash equivalents -55.266 -68.104 20.352 -35.534 10.775 Cash and cash equivalents at the start of the period 225.289 226.732 204.937 194.162 194.162 Cash and cash equivalents at the end of the period 170.024 158.628 225.289 158.628 204.937