Trondheim, 14 May 2025: In the first quarter, NORBIT recorded revenues of NOK 521.7 million, an increase of 29 per cent from the corresponding quarter of 2024. The EBIT result was NOK 127.4 million, representing a margin of 24 per cent. Diluted earnings per share were NOK 1.40 for the first quarter, up from NOK 0.50 one year earlier.

• The Oceans segment delivered its second highest revenues ever of NOK 232.7 million, an increase of 92 per cent from the same quarter in 2024, with an EBIT margin of 35 per cent.
• The Connectivity segment reported NOK 145.9 million in revenues, largely in line with Q1 2024, and an EBIT margin of 28 per cent.
• The Product Innovation & Realization (PIR) segment saw revenue growth of 11 per cent, to NOK 160.6 million, with an EBIT margin of 14 per cent.
  

"Through years of market-driven innovation and a strong operational foundation, NORBIT is well positioned to meet growing demand across all business segments. Strategic investments in capacity and competence enable us to deliver on growth opportunities across all business segments, offering tailored technology to carefully selected applications. It’s motivating to see the commitment across the organisation - both to our core purpose, Explore More, and to our core value number one - We deliver! It is truly gratifying to experience the continued trust from customers worldwide,” says Per Jørgen Weisethaunet, CEO of NORBIT.

The board remains optimistic about the outlook for the year and the prospects ahead. In February, NORBIT communicated a revenue target for 2025 in the range NOK 2.2 – 2.3 billion, with an improved EBIT margin relative to the 20 per cent reported last year. Based on the current outlook, the targets are considered conservative. As in previous years, updated annual targets will be provided at the second quarter reporting in August.

Attached is the report for the first quarter and the presentation material.

CEO Per Jørgen Weisethaunet and CFO Per Kristian Reppe will present the results at 09:00 am CEST. The presentation will be hosted by Pareto Securities in Dronning Mauds gate 3 and via a live webcast: https://invitepeople.com/events/ae99e14fa8.

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 (http://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 May 2025 at 07.00 CEST.