EL7.AI
StocksMedium•12 November 2026•
4 min read

NORBIT reports revenue of NOK 676.7 million and approves extra dividend for 2025

Key Facts

1Third-quarter revenue was NOK 676.7 million, up 34% year over year and 28% adjusted for the acquisition impact.
2Net profit rose to NOK 71.8 million from NOK 51.8 million, while diluted earnings per share increased to NOK 1.12 from NOK 0.81.
3The company approved an extra dividend of NOK 2.00 per share for the 2025 financial year, bringing distributions for that year to NOK 7.00 per share.
4NORBIT expects annual revenue of NOK 3.0 billion to NOK 3.1 billion and an EBIT margin of 21% to 22% in 2026.

NORBIT reported revenue of NOK 676.7 million in the third quarter of 2026, up 34% from the same period in 2025, according to its financial report. Growth was 28% excluding the impact of the Water Linked acquisition, while organic growth at constant currencies reached 33%. The company said all three segments contributed to revenue growth during the quarter. Net profit for the period rose to NOK 71.8 million from NOK 51.8 million a year earlier. Diluted earnings per share also increased to NOK 1.12 from NOK 0.81 in the third quarter of 2025.

Operating profit improved to NOK 115.5 million from NOK 75.4 million a year earlier, and the EBIT margin rose to 17% from 15%. The quarter's results included NOK 5.6 million in transaction costs related to the acquisition. EBITDA was NOK 169.2 million, compared with NOK 114.7 million in the same period, and its margin rose to 25% from 23%. By contrast, the gross profit margin was 56%, versus 57% a year earlier. These figures show operating profit expanding alongside sales growth, while the gross profit margin edged down.

At the segment level, Oceans revenue was NOK 260.6 million, up from NOK 192.4 million in the third quarter of 2025. NORBIT said strong demand for Winghead systems and side-scan sonar supported sonar sales in the segment. However, the company's sales to leasing companies in the first nine months of 2026 were about NOK 60 million lower than in the same period a year earlier. The company attributed this to a weak leasing market and currency pressures. In Connectivity, revenue rose 38% to NOK 148.3 million, driven mainly by increased deliveries of satellite solutions and On-Board units.

The Product Innovation & Realization segment reported revenue of NOK 286.2 million for the quarter, up 28% year over year. NORBIT's acquisition of all shares in Water Linked contributed to revenue growth after the deal closed on 1 July 2026. The purchase price was NOK 330 million on a cash- and debt-free basis. The difference between overall revenue growth of 34% and adjusted growth of 28% reflects the acquisition's impact on the year-over-year comparison. Alongside this effect, the company said organic growth at constant currencies reached 33%, with all three segments contributing.

NORBIT announced that its board had approved an extra dividend of NOK 2.00 per share, based on the 2025 financial year, bringing distributions for that year to NOK 7.00 per share. The company said the decision was based on its strong balance sheet and financial position. The announcement is part of returns for the previous financial year, rather than a distribution directly linked to third-quarter performance. The company's policy is to distribute annual dividends of more than 30% of net profit after tax, taking into account its financial position, investment plans and need for flexibility to support sustainable growth. NORBIT distributed a total of NOK 382.3 million during 2025, equivalent to NOK 6.00 per share before the new addition.

For the 2026 financial year, the company expects revenue of NOK 3.0 billion to NOK 3.1 billion and an EBIT margin of 21% to 22%. It also said delays in raw material deliveries limited the recognition during the quarter of revenue from two surveillance sonar contracts worth about NOK 50 million in total. Most of the revenue related to the two projects is expected to shift to the fourth quarter. In Connectivity, the company signed an agreement with Toll4Europe worth about NOK 325 million. Deliveries are scheduled to begin near the end of the fourth quarter of 2026, with most deliveries taking place in 2027.

After the quarter ended, the PIR segment received an order worth NOK 185 million from an unnamed European customer in the defence and security sector. The company said most deliveries were scheduled for the first quarter of 2027. The order adds to the Toll4Europe agreement, most of whose deliveries are scheduled for 2027, while implementation is due to begin near the end of 2026. NORBIT is scheduled to publish its fourth-quarter 2026 report on 11 February 2027. The next report will present results for the final period of the year and the company's position on its annual revenue and EBIT margin forecasts.