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"scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_NegatedLabel_00335": { "value": "152900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00345": { "value": "-331300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00346": { "value": "260100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00106": { "value": "-34400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00107": { "value": "132600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_PeriodStartLabel_00109": { "value": "193300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_PeriodStartLabel_00108": { "value": "60700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_PeriodEndLabel_00110": { "value": "158900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_PeriodEndLabel_00111": { "value": "193300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_Label_00347": { "value": "67500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_Label_00348": { "value": "40200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_Label_00350": { "value": "33900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:NOK" } }, "ConsolidatedStatementOfCashFlows_Label_00349": { "value": "13600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00220": { "value": "Note 1.1
General information
NORBIT ASA is a limited liability company incor-
porated and domiciled in Norway, with its head-
quarters at Stiklestadveien 1, Trondheim. NORBIT
is listed on the Oslo Stock Exchange with the
ticker \u201cNORBT\u201d.
The consolidated financial statements of NOR-
BIT ASA for the year ended December 31, 2025,
incorporate the financial statements of the parent
company NORBIT ASA and its subsidiaries (col-
lectively referred to as the \u201cgroup\u201d and separately
as \u201cgroup companies\u201d).
The consolidated financial statements for 2025
were approved and authorised for issue by the
board of directors on 22 April 2026. The consol-
idated financial statements will be submitted to
NORBIT\u2019s annual general meeting, to be held 20
May 2026, for final approval.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00216": { "value": "NORBIT ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00210": { "value": "NORBIT ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00219": { "value": "limited liability company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00214": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00218": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00211": { "value": "Norway", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00221": { "value": "Note 1.2
Basis for preparation
Statement of compliance
The financial statements have been prepared in
accordance with IFRS\u00ae Accounting Standards as
adopted by the EU, and the additional require-
ments of the Norwegian Accounting Act as at
31\u00a0December 2025.
New and amended standards adopted
The group did not apply any new or amended
standards effective in 2025 that had a material
impact on the consolidated financial statements.
The group has not early adopted any standards,
interpretations or amendments.
Standards issued but not yet effective
IFRS 18 Presentation and disclosure in financial
statements
IFRS 18 was issued in April 2024 and will replace
IAS 1. The standard introduces new requirements
for the presentation of the statement of profit or
loss and enhanced disclosures.
IFRS 18 is effective from 1 January 2027. The
group is currently assessing the impact of the
standard, which is expected to primarily affect
presentation and disclosures.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00224": { "value": "Statement of compliance
The financial statements have been prepared in
accordance with IFRS\u00ae Accounting Standards as
adopted by the EU, and the additional require-
ments of the Norwegian Accounting Act as at
31\u00a0December 2025.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00227": { "value": "New and amended standards adopted
The group did not apply any new or amended
standards effective in 2025 that had a material
impact on the consolidated financial statements.
The group has not early adopted any standards,
interpretations or amendments.
Standards issued but not yet effective
IFRS 18 Presentation and disclosure in financial
statements
IFRS 18 was issued in April 2024 and will replace
IAS 1. The standard introduces new requirements
for the presentation of the statement of profit or
loss and enhanced disclosures.
IFRS 18 is effective from 1 January 2027. The
group is currently assessing the impact of the
standard, which is expected to primarily affect
presentation and disclosures.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00225": { "value": "Going concern basis of accounting
The consolidated financial statements have been
prepared on a going concern basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00274": { "value": "Subsidiaries
Subsidiaries are all entities over which the group
has control. The group controls an entity when
the group is exposed to, or has rights to, variable
returns from its involvement with the entity and
has the ability to affect those returns through its
power over the entity. Subsidiaries are consol-
idated from the date on which control is trans-
ferred to the group until the date of which control
ceases. The consolidated financial statements do
not include any non-controlling interests, as the
group holds 100 per cent ownership interests in
all consolidated subsidiaries.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00277": { "value": "Subsidiaries included in the consolidated financial statements
\u00a0
Country of
\u00a0
Ownership and
Subsidiary
incorporation
Place of business
voting rights
NORBIT GmbH
Austria
Austria
100%
NORBIT Brazil
Brazil
Rio de Janeiro
100%
NORBIT Canada Inc.
Canada
Vancouver, Canada
100%
Ping Digital Signal Processing Inc.
Canada
Victoria, Canada
100%
NORBIT Chile s.r.l.
Chile
Santiago, Chile
100%
NORBIT China Co., Ltd.
China
Shanghai, China
100%
iData Fleet management
Croatia
Grad Zagreb, Croatia
100%
NORBIT Czech Republic s.r.o.
Czech Republic
Brno, Czech Republic
100%
NORBIT Denmark ApS
Denmark
Copenhagen, Denmark
100%
NORBIT Germany GmbH
Germany
Freiburg im Breisgau
100%
NORBIT Innomar Holding GmbH
Germany
Rostock, Germany
100%
Innomar Technologie GmbH
Germany
Rostock, Germany
100%
NORBIT Holding Kft.
Hungary
Budapest, Hungary
100%
NORBIT Hungary Kft.
Hungary
Budapest, Hungary
100%
NORBIT Iceland ehf.
Iceland
Reykjav\u00edk, Iceland
100%
NORBIT s.r.l.
Italy
Lanciano, Italy
100%
Fenrits AS
Norway
Trondheim, Norway
100%
NORBIT Aptomar AS
Norway
Trondheim, Norway
100%
NORBIT Kablepartner AS
Norway
Trondheim, Norway
100%
NORBIT EMS AS
Norway
Selbu/R\u00f8ros, Norway
100%
NORBIT Connectivity Norway AS
Norway
Trondheim, Norway
100%
NORBIT R&D AS
Norway
Trondheim, Norway
100%
NORBIT Subsea AS
Norway
Trondheim, Norway
100%
NORBIT Poland Sp. z o.o.
Poland
Gdansk/Sopot, Poland
100%
NORBIT Singapore Ltd.
Singapore
Singapore
100%
iData Slovakia s.r.o.
Slovakia
Bratislava, Slovakia
100%
NORBIT Sweden AB
Sweden
Gothenburg, Sweden
100%
NORBIT Ltd.
United Kingdom
Aberdeen, UK
100%
NORBIT US Ltd.
United States
Santa Barbara/Portland, USA
100%
\n
Elimination of transactions upon consolidation
Intra-group balances and transactions, and any
significant unrealised gains and losses or income
and expenses arising from intra-group transac-
tions, are eliminated in preparing the consol-
idated financial statements. Unrealised gains
arising from transactions with associated and
joint ventures are eliminated to the extent of the
group\u2019s interest in the entity.
Functional currency and presentation currency
The consolidated financial statements are presented
in Norwegian kroner (NOK), which is the functional
currency of NORBIT ASA and the Norwegian subsid-
iaries in the group. Foreign subsidiaries operate with
local currency as the functional currency.
Financial information presented in NOK has been
rounded to the nearest million with one deci-
mal, except when otherwise stated. As a result of
rounding differences, amounts and percentages
may not add up to the total.
The results and financial position of group com-
panies whose functional currency is different
from the presentation currency (NOK) are trans-
lated to NOK in the following way:
^
Balance sheet items are translated using the
exchange rates at the balance sheet date
^
Profit and loss items are translated at average
exchange rates for each quarter
^
All resulting exchange differences are recog-
nised in other comprehensive income", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00222": { "value": "Functional currency and presentation currency
The consolidated financial statements are presented
in Norwegian kroner (NOK), which is the functional
currency of NORBIT ASA and the Norwegian subsid-
iaries in the group. Foreign subsidiaries operate with
local currency as the functional currency.
Financial information presented in NOK has been
rounded to the nearest million with one deci-
mal, except when otherwise stated. As a result of
rounding differences, amounts and percentages
may not add up to the total.
The results and financial position of group com-
panies whose functional currency is different
from the presentation currency (NOK) are trans-
lated to NOK in the following way:
^
Balance sheet items are translated using the
exchange rates at the balance sheet date
^
Profit and loss items are translated at average
exchange rates for each quarter
^
All resulting exchange differences are recog-
nised in other comprehensive income", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00278": { "value": "Foreign currency translations and transactions
Foreign currency transactions are translated into
each group company\u2019s functional currency using
the exchange rates at the dates of the transactions.
Monetary assets and liabilities in foreign currencies
are translated into the group company\u2019s functional
currency using the exchange rate on the balance
sheet date. Foreign exchange gains and losses
resulting from the settlement of such transactions
and from the translation of monetary assets and
liabilities denominated in foreign currencies other
than NOK are recognised in the income statement
under net financial items.
Non-monetary assets and liabilities that are meas-
ured at fair value in a foreign currency are trans-
lated to the functional currency at the exchange
rates on the date the fair value is determined.
Translation differences on assets and liabilities
carried at fair value are reported as part of the fair
value gain or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00287": { "value": "Current/non-current classification
An asset is classified as current when it is
expected to be realised or is intended for sale
or consumption in the group\u2019s normal operating
cycle, it is held primarily for the purpose of being
traded, or it is expected/due to be realised or
settled within twelve months after balance sheet
date. Other assets are classified as non-current.
A liability is classified as current when it is
expected to be settled in the group\u2019s normal
operating cycle, is held primarily for the purpose
of being traded, the liability is due to be settled
within twelve months after the balance sheet
date, or if the group does not have an uncondi-
tional right to defer settlement of the liability for
at least twelve months after the reporting period.
All other liabilities are classified as non-current.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00288": { "value": "Current/non-current classification
An asset is classified as current when it is
expected to be realised or is intended for sale
or consumption in the group\u2019s normal operating
cycle, it is held primarily for the purpose of being
traded, or it is expected/due to be realised or
settled within twelve months after balance sheet
date. Other assets are classified as non-current.
A liability is classified as current when it is
expected to be settled in the group\u2019s normal
operating cycle, is held primarily for the purpose
of being traded, the liability is due to be settled
within twelve months after the balance sheet
date, or if the group does not have an uncondi-
tional right to defer settlement of the liability for
at least twelve months after the reporting period.
All other liabilities are classified as non-current.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00289": { "value": "All other liabilities are classified as non-current.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00223": { "value": "Note 1.4
Use of estimates and judgements
The preparation of annual financial statements
in conformity with IFRS requires management
to make judgements, estimates and assump-
tions that affect the reported amounts of assets
and liabilities, income and expenses. Although
management believes these assumptions to be
reasonable, given historical experience, actual
amounts and results could differ from these esti-
mates. Estimates and underlying assumptions
are reviewed and assessed on an on-going basis.
Changes to accounting estimates are recognised
in the period in which the estimates are revised
and in future periods if affected.
Information about assumptions and estimation
uncertainties at the reporting date that have sig-
nificant risk of resulting in a material adjustment
to the carrying amount of assets and liabilities is
included in the following notes:
^
Intangible assets and goodwill (note 3.1)
^
Provision for obsolete inventory (note 3.5)
^
Allowance for loss for trade receivables (note 3.7)", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00233": { "value": "Note 2.1
Segment information
Description of business segments and principal
activities
NORBIT ASA is organised in three operating seg-
ments: Oceans, Connectivity and Product, Innova-
tion & Realization (PIR). The operating segments are
aligned with the internal reporting, and the operat-
ing segments are components of the group that are
evaluated regularly by the management team.
The Oceans segment delivers tailored technol-
ogy solutions to global maritime markets, and
the Connectivity segment is a leading supplier of
secure wireless technology for industrial
and mission-critical applications \u2013 ranging from
transportation infrastructure to navigation and
defence-related environments. The third seg-
ment, PIR, provides R&D products and services
and contract manufacturing to key customers.
Oceans encompass all NORBIT\u2019s knowledge
and competence targeting the global maritime
markets, including proprietary technology and
solutions. The business unit offers sub-bottom
profilers and ultra-compact sonars for a range
of special applications including seabed map-
ping and hydrography. The segment has further
developed proprietary solutions and software for
maritime and environmental monitoring, includ-
ing security applications. NORBIT is continuously
working on expanding its offering in selected
applications.
The Connectivity segment enables clients to
digitise their operations through data collection
and tailored sensor analysis with connectivity
devices, cloud computing and data fusions being
directly integrated into the client\u2019s business soft-
ware or as stand-alone services.
The Product Innovation and Realization segment
(PIR) offers R&D services and contract manu-
facturing to long-term key industrial customers
through in-house capabilities and a high degree
of robotised production. In addition, the segment
sells products based on proprietary technology,
including special instrumentation based on radar,
radio frequency and embedded signal process-
ing technology.
Financial results 2025 \u2013 business segments
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
Oceans
Connectivity
PIR
Other
1)
Total
Revenues
863.1
610.4
1\u00a0029.0
2)
-
2\u00a0502.5
Inter-segment revenue
14.8
3.0
56.6
(74.4)
0.0
Total revenues
877.9
613.3
1 085.7
(74.4)
2 502.5
Raw materials and change in inventories
246.4
223.7
659.8
(19.9)
1\u00a0110.0
Employee benefit expenses
204.1
98.3
145.6
50.8
498.8
Other operating expenses
89.6
68.4
45.2
(21.7)
181.5
EBITDA
337.8
223.0
235.0
(83.6)
712.2
EBITDA margin
38%
36%
22%
\u00a0
28%
Depreciation
24.6
21.2
22.0
5.7
73.5
Amortisation and impairment
47.6
35.4
3.0
(2.6)
83.4
EBIT
265.6
166.4
210.0
(86.7)
555.4
EBIT margin
30%
27%
19%
\u00a0
22%
Total financial items (not allocated)
\u00a0 \u00a0 \u00a0 \u00a0
(29.1)
Profit before tax
\u00a0 \u00a0 \u00a0 \u00a0
526.3
Taxes (not allocated)
\u00a0 \u00a0 \u00a0 \u00a0
(122.0)
Profit after tax
\u00a0 \u00a0 \u00a0 \u00a0
404.3
\n
1)
The column \u201cOther\u201d includes eliminations of inter-segment transactions and items related to corporate functions and entities that are not allocated to the operating segments, including the parent company.
2) Revenue from one external customer accounted for more than 10% of the group\u2019s total revenue and is included in the PIR segment.
\n
\n
Financial results 2024 \u2013 business segments
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
Oceans
Connectivity
PIR
Other
1)
Total
Revenues
739.3
512.8
499.3
\u00a0
1\u00a0751.4
Inter-segment revenue
4.6
2.9
43.8
(51.3)
0.0
Total revenues
743.9
515.7
543.1
(51.3)
1 751.4
Raw materials and change in inventories
203.7
182.8
323.9
(5.8)
704.6
Employee benefit expenses
174.2
89.4
112.8
39.8
416.3
Other operating expenses
79.7
60.1
33.0
(16.4)
156.4
EBITDA
286.2
183.3
73.4
(68.9)
474.0
EBITDA margin
38%
36%
14%
\u00a0
27%
Depreciation
20.9
15.7
18.2
4.5
59.3
Amortisation and impairment
46.6
33.0
1.0
(7.6)
73.1
EBIT
218.8
134.5
54.2
(65.8)
341.7
EBIT margin
29%
26%
10%
\u00a0
20%
Total financial items (not allocated)
\u00a0 \u00a0 \u00a0 \u00a0
(23.4)
Profit before tax
\u00a0 \u00a0 \u00a0 \u00a0
318.3
Taxes (not allocated)
\u00a0 \u00a0 \u00a0 \u00a0
(75.0)
Profit after tax
\u00a0 \u00a0 \u00a0 \u00a0
243.3
\n
1)
The column \u201cOther\u201d includes eliminations of inter-segment transactions and items related to corporate functions and entities that are not allocated to the operating segments, including the parent company.", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00234": { "value": "Note 2.2
Revenue recognition
\n
P
\n
Accounting policy \u2013 Revenues
\n
The group\u2019s main source of revenue is the sale of goods. Revenue is recognised when control of the
\n
products is transferred to the customer, which is generally at the point of delivery according to the
\n
agreed incoterms. When the group acts as an intermediary and does not control the specified goods
\n
or services, revenue is recognised on a net basis, representing the commission or fee earned.
\n
While product sales represent the vast majority of the group's revenue, a smaller portion is derived
\n
from subscription-based services within tracking and fleet management, as well as minor service rev-
\n
enues in the Oceans segment. These revenues are recognised over time, either on a straight-line
\n
basis throughout the subscription period or as the services are performed.
\n
If payments are received before delivery, a contract liability is recognised. If the time between delivery
\n
and payment is significant, the transaction price is adjusted for the time value of money.
\n
Revenues are attributed to geographical areas based on the location of the customer. Oceans operate
\n
globally, while Connectivity and PIR primarily serve customers in Europe.
\n
Revenues from external customers by geography and segment 2025
\n\n \n
Amounts in NOK million
Oceans
Connectivity
PIR
Inter segment
Total
Europe, Middle East & Africa (EMEA)
405.7
603.3
984.7
-
1 993.7
Asia-Pacific (APAC)
222.5
5.0
44.1
-
271.6
North America, South America and Central America (Americas)
234.8
2.1
0.3
-
237.2
Total external revenues
863.1
610.4
1 029.0
-
2 502.5
Inter-segment revenue
14.8
3.0
56.6
(74.4)
0.0
Total revenues
877.9
613.3
1 085.7
(74.4)
2 502.5
\n
Revenues from external customers by geography and segment 2024
\n\n \n
Amounts in NOK million
Oceans
Connectivity
PIR
Inter segment
Total
Europe, Middle East & Africa (EMEA)
400.2
508.1
471.1
-
1 377.4
Asia-Pacific (APAC)
153.9
2.0
27.5
-
183.4
North America, South America and Central America (Americas)
185.2
2.6
0.8
-
188.5
Total external revenues
739.3
512.8
499.3
-
1 751.4
Inter-segment revenue
4.6
2.9
43.8
(51.3)
0.0
Total revenues
743.9
515.7
543.1
(51.3)
1 751.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00228": { "value": "Accounting policy \u2013 Revenues
The group\u2019s main source of revenue is the sale of goods. Revenue is recognised when control of the
\n
products is transferred to the customer, which is generally at the point of delivery according to the
\n
agreed incoterms. When the group acts as an intermediary and does not control the specified goods
\n
or services, revenue is recognised on a net basis, representing the commission or fee earned.
\n
While product sales represent the vast majority of the group's revenue, a smaller portion is derived
\n
from subscription-based services within tracking and fleet management, as well as minor service rev-
\n
enues in the Oceans segment. These revenues are recognised over time, either on a straight-line
\n
basis throughout the subscription period or as the services are performed.
\n
If payments are received before delivery, a contract liability is recognised. If the time between delivery
\n
and payment is significant, the transaction price is adjusted for the time value of money.
\n
Revenues are attributed to geographical areas based on the location of the customer. Oceans operate
\nglobally, while Connectivity and PIR primarily serve customers in Europe.Accounting policy - Pensions
For defined contribution plans, contributions are paid into pension insurance plans. Contributions to
defined contributions plans are charged to the income statement in the period to which contributions
relate.Accounting policy - Share-based payments
Share-based payments are recognised as an expense over the vesting period, with a corresponding
increase in equity, reflecting the group\u2019s obligation to deliver shares to employees under the incentive
programmes.Accounting policy \u2013 Government grants
Grants are recognised when there is reasonable assurance that they will be received and that the
group meets the conditions for the grants. The grants are measured at fair value at the transaction
date and presented either as a reduction of related expenses or, when directly linked to capitalised
assets, as a reduction of the carrying amount of the asset. Accounting policy \u2013 Financial income and financial expenses
Interest income and expenses are recognised using the effective interest method. Other financial
income and expenses are recognised in profit or loss as incurred.Accounting policy \u2013 Income tax
Income tax includes current and deferred tax. Current tax is calculated on taxable income for the year
using the tax rates applicable at the balance sheet date. Deferred tax assets and liabilities are meas-
ured using the tax rates expected to apply when the assets are realised or the liabilities settled and
are offset when a legal right to offset current tax balances exists.
Deferred tax is recognised for temporary differences between the carrying amounts of assets and
liabilities and their tax bases, using the liability method. It is not recognised for goodwill that is not
deductible for tax purposes, or for temporary differences arising on initial recognition of assets and
liabilities that are not business combinations and affect neither accounting nor taxable profit.
Deferred tax assets are recognised only when it is probable that future taxable profits will be available
to utilise the deductible differences.Accounting policy \u2013 Development cost
Development costs are capitalised when the project is technically and commercially feasible,
expected to generate future economic benefits, and the group has the resources to complete it. Capi-
talised costs, including materials, labour and directly attributable expenses, are measured at historical
cost less accumulated amortisation and impairment losses. Other development costs are expensed as
incurred, and amortisation is recognised on a straight-line basis from the date the asset is available for
use.Accounting policy \u2013 Goodwill
Goodwill from business combinations represents the difference between the consideration trans-
ferred and the fair value of the identifiable net assets at the acquisition date. Goodwill is measured at
cost less accumulated impairment losses.Accounting policy \u2013 Impairment of non-financial assets
All non-financial assets (except deferred tax assets and inventories) are reviewed at each report-
ing date to identify any indications of impairment. When such indicators are present, the recovera-
ble amount of the asset or the cash-generating unit (CGU) to which it belongs is estimated. Intangible
assets with indefinite useful lives and those not yet available for use are tested for impairment annu-
ally, or more frequently if indicators arise.
An impairment loss is recognised when the carrying amount exceeds the recoverable amount, which
is the higher of fair value less costs of disposal and value in use. Value in use is determined by dis-
counting expected future cash flows using a pre-tax discount rate that reflects current market assess-
ments of the time value of money and asset-specific risks.
Impairment losses on goodwill are not reversed. For other assets, reversals are recognised only if
there has been a change in the estimates used and the asset\u2019s carrying amount does not exceed the
amount that would have been recognised had no impairment been recorded.Accounting policy \u2013 Property, plant and equipment
Property, plant and equipment are measured at historical cost less accumulated depreciation and
impairment losses. Cost includes expenses directly attributable to the acquisition.
Subsequent costs are capitalised only when they are expected to generate future economic benefits;
ordinary repairs and maintenance are expensed as incurred. Gains and losses on disposals are recog-
nised in the income statement.
Depreciation is charged on a straight-line basis over estimated useful lives, considering residual val-
ues, and reviewed annually. Assets under construction are not depreciated until they are available for
use. Accounting policy \u2013 Right-of-use assets
The group recognises a right-of-use asset at the start of the lease. The asset is initially measured at
cost and subsequently at cost less accumulated depreciation and impairment losses, adjusted for any
remeasurements of the related lease liability.
The cost of the right-of-use asset includes the amount of the lease liability recognised, any initial
direct costs, and lease payments made at or before the start of the lease, less any lease incentives
received. The asset is depreciated on a straight-line basis over the shorter of the lease term and its
estimated useful life and is subject to impairment assessment consistent with other non-financial
assets.Accounting policy \u2013 Lease liabilities
Lease liabilities are initially measured at the present value of future lease payments, discounted using
the interest rate implicit in the lease when this can be readily determined. When the implicit rate is not
readily available, the group applies its incremental borrowing rate.
The lease term includes non-cancellable periods and periods covered by extension options where the
group is reasonably certain to exercise such options.
Lease payments include fixed amounts and variable components linked to an index or a rate. Lease
liabilities are remeasured when relevant indices or rates change.
After initial recognition, the lease liability is increased by interest expense and reduced by lease pay-
ments made. It is remeasured if lease terms or expectations regarding extensions or terminations
change.
The group applies the recognition exemptions for short-term leases and leases of low-value assets.
Payments for such leases are recognised as an expense on a straight-line basis over the lease term.Accounting policy \u2013 Inventories
Inventories are measured at the lower of cost and net realisable value. Cost includes the cost of mate-
rials, direct labour and an appropriate proportion of production overheads.
Cost is determined using the first-in, first-out (FIFO) method or the weighted average cost formula,
depending on the nature of the inventory and the entity.
Net realisable value represents the estimated selling price in the ordinary course of business, less
estimated costs of completion and selling expenses, and reflects deductions for obsolescence and
slow-moving items. Such reductions are reversed when the underlying circumstances no longer exist. Accounting policy \u2013 Trade receivables
Trade receivables represent amounts owed by customers for goods delivered and services rendered
as part of the group\u2019s normal operations. They are generally due within 30 to 60 days and are clas-
sified as current assets. Receivables are measured at amortised cost, less any expected credit loss
allowance. Receivables denominated in foreign currencies are translated at the exchange rates at the
balance sheet date, with exchange differences recognised in profit or loss.
Expected credit losses are recognised from initial recognition using the simplified approach. Losses
are estimated based on both collective and individual assessments, considering customer-specific
credit risk characteristics, overdue balances and, where relevant, alternative outcome scenarios. The
assessment is carried out by senior staff in the group\u2019s finance department in close dialogue with
management in the operating segments.Accounting policy \u2013 Cash and cash equivalents
Cash and cash equivalents consist of bank deposits available on demand, including balances in for-
eign currencies that are not part of the group\u2019s short-term multi-currency overdraft facility.Accounting policy \u2013 Interest-bearing borrowings
Interest-bearing borrowings are initially recognised at fair value, net of transaction costs. After initial
recognition, borrowings are measured at amortised cost. Interest expense is recognised over the loan
period using the interest rate that reflects the group\u2019s actual borrowing cost.Accounting policy \u2013 Trade and other payables
Trade and other payables are recognised initially at fair value and subsequently measured at
amortised cost using the effective interest method.
Other current liabilities, including accrued expenses and similar short-term obligations, are measured
at amortised cost or at the expected amount of settlement when the effect of discounting is
immaterial.Accounting policy \u2013 Provisions
Provisions are recognised when the group has a present obligation as a result of a past event, and it
is probable that the obligation will require settlement and can be reliably estimated. Provisions are
measured at the expected cost of fulfilling the obligation.
Warranty provisions cover expected future costs related to products and services already delivered.
The estimates are based on historical warranty experience and management\u2019s assessment of future
claims. Accounting policy \u2013 Dividends
Dividends are recorded in the group\u2019s consolidated financial statements in the period in which they
are approved by the general meeting.Accounting policy \u2013 Business combinations
Business combinations are accounted for using the acquisition method as of the acquisition date,
which is the date when control is transferred to the group. The consideration transferred is meas-
ured at the fair value of the assets transferred, equity instruments issued and liabilities assumed at
the acquisition date. The cost of acquisition includes the fair value of any contingent consideration
arrangements.
Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combina-
tion are measured initially at their fair values at the acquisition date. The costs associated with the
business combination are expensed when they are incurred.
If the aggregate of the consideration transferred, the carrying amount of non-controlling interests and
the fair value on the acquisition date of any previously held ownership interests exceeds the fair value
of the acquired entity\u2019s identifiable net assets, the difference is capitalised as goodwill. If the aggre-
gate amount is less than the company\u2019s net assets, the difference is immediately recognised as a bar-
gain purchase in profit or loss.
Contingent consideration is classified either as equity or a financial liability. Amounts classified as a
financial liability are subsequently remeasured to fair value with changes in fair value recognised in
profit or loss.Accounting policy \u2013 Investment in associates
Associates are entities over which the group has significant influence but not control or joint control.
Investments in associates are accounted for using the equity method.
The investment is initially recognised at cost and subsequently adjusted for the group\u2019s share of profit
or loss and other comprehensive income of the associate.
The group\u2019s share of profit or loss from associates is presented as a separate line item in the consoli-
dated statement of profit or loss. Dividends received reduce the carrying amount of the investment.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00279": { "value": "Accounting policy \u2013 Revenues
The group\u2019s main source of revenue is the sale of goods. Revenue is recognised when control of the
\n
products is transferred to the customer, which is generally at the point of delivery according to the
\n
agreed incoterms. When the group acts as an intermediary and does not control the specified goods
\n
or services, revenue is recognised on a net basis, representing the commission or fee earned.
\n
While product sales represent the vast majority of the group's revenue, a smaller portion is derived
\n
from subscription-based services within tracking and fleet management, as well as minor service rev-
\n
enues in the Oceans segment. These revenues are recognised over time, either on a straight-line
\n
basis throughout the subscription period or as the services are performed.
\n
If payments are received before delivery, a contract liability is recognised. If the time between delivery
\n
and payment is significant, the transaction price is adjusted for the time value of money.
\n
Revenues are attributed to geographical areas based on the location of the customer. Oceans operate
\nglobally, while Connectivity and PIR primarily serve customers in Europe.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00235": { "value": "Note 2.3
Salaries, pension and social security costs
Payroll expenses
Amounts in NOK million
2025
2024
Salaries
440.7
367.1
Pension costs
20.8
17.5
Payroll tax
59.5
55.3
Capitalised payroll expenses as development asset
(41.8)
(31.6)
Other payroll expenses
19.6
8.0
Total employee benefit expenses
498.8
416.3
Average number of FTEs
617
519
\n
P
Accounting policy - Pensions
For defined contribution plans, contributions are paid into pension insurance plans. Contributions to
defined contributions plans are charged to the income statement in the period to which contributions
relate.
P
Accounting policy - Share-based payments
Share-based payments are recognised as an expense over the vesting period, with a corresponding
increase in equity, reflecting the group\u2019s obligation to deliver shares to employees under the incentive
programmes.
Pension arrangements
The Norwegian group companies have pension
plans secured through collective agreements in
life insurance companies and are subject to the
Norwegian Act on Occupational Pensions. The
group meets the requirements of this legisla-
tion and operates defined contribution schemes.
Contributions to these plans are expensed in the
period to which they relate, with no further obli-
gations beyond the annual contributions.
Some of the Norwegian subsidiaries also par-
ticipate in the AFP scheme (early retirement
scheme), which allows employees to retire
between the ages of 62 and 67 with lifelong ben-
efits. The plan exposes participants to actuarial
risk from other entities, and sufficient information
is not available to apply defined benefit account-
ing. Therefore, the plan is accounted for as a
defined contribution plan. The group\u2019s only obli-
gation under the AFP scheme is to pay the annual
premium, and no further liabilities are recognised
beyond the contributions paid.
Subsidiaries outside Norway have pension
arrangements based on legislation and common
practices in the respective countries.
Share incentive programmes to employees
At the general meeting held 6 May 2025, the
board of directors was granted an authorisation
to increase NORBIT ASA\u2019s share capital by up
to 2.0 per cent of the share capital to be used to
issue share to the group\u2019s employees in connec-
tion with incentive programmes. The authorisa-
tion is valid until the annual general meeting to
be held 20 May 2026.
In December 2025, the board of directors
approved and implemented an incentive share
purchase programmes for all eligible employees
in NORBIT. A total of 76 077 shares were sub-
scribed for.
The program is a share matching program, where
eligible participants are offered the opportunity
to acquire shares at market value and, in turn, are
granted a conditional right to receive additional
shares with a value corresponding to their invest-
ment, provided they remain employed through-
out a 24-month lock-up period. The offer price
was set to NOK 172.48, corresponding to the five-
day average volume weighted price of NORBIT
ASA\u2019s share prior to 1 December. The shares were
delivered in the form of existing treasury shares
held by the company.
In addition, the board of directors awarded in
August 2025 shares to eligible employees who
participated in the share matching program in
2023. A total of 35\u00a0075 shares were awarded.
The shares were delivered in the form of existing
treasury shares held by the group.
Share-based remuneration to corporate
management
Restricted stock units (RSUs) granted to exec-
utive management give a conditional right to
receive one NORBIT ASA share per unit at no
cost, subject to continued employment.
The number of RSUs awarded are based on a set
of predetermined and measurable performance cri-
teria in the accruing year and the group\u2019s achieve-
ments of certain quantitative and qualitative goals.
The gross bonus amount determined is converted
into a number of RSUs using the volume weighted
average share price for the last five trading days in
the accruing year.The awarded RSUs vest over a
period of three years, with one-third vesting after
the first general meeting following the accrual year,
and the remainder vesting in equal parts over the
following two years.
The total cost of RSU grants is recognised as an
expense over the vesting period. Following the
grant date, only employer\u2019s social security contri-
butions are remeasured based on the share price
at the time of settlement. The number and value
of the granted RSUs remain unchanged.
At 31 December 2025, 156\u00a0634 RSUs were out-
standing under active programmes.
Movement in the number of outstanding RSUs
Amounts in NOK million
2025
2024
Outstanding at 1 January
219\u00a0626
131\u00a0197
Granted during the year
135 676
271\u00a0102
Settled during the year
(198 668)
(182\u00a0673)
Outstanding at 31 December
156\u00a0634
219\u00a0626
Outstanding RSUs in the executive management team
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Outstanding at
\u00a0 \u00a0
Outstanding at
Number of RSUs
1 January
Granted
Settled
31 December
Per J\u00f8rgen Weisethaunet (Group CEO)
48\u00a0732
28\u00a0508
(38\u00a0624)
38\u00a0616
Per Kristian Reppe (Group CFO)
36\u00a0956
21\u00a0480
(29\u00a0111)
29\u00a0325
Peter K. Eriksen (Business Unit Director Oceans)
56\u00a0721
33\u00a0839
(44\u00a0970)
45\u00a0590
Julie Dahl Benum (CSO & Acting Chief Commercial Officer PIR)
18\u00a0422
14\u00a0452
(14\u00a0028)
18\u00a0846
Astrid Stevik (Group COO)
0
2\u00a0045
(681)
1\u00a0364
Lino Morgione (Chief Commercial Officer Connectivity)
0
0
0
0
Asbj\u00f8rn Dahl (former Commercial Director)
0
3\u00a0983
(1\u00a0327)
2\u00a0656
Arild S\u00f8raunet (former Group CTO)
26\u00a0947
14\u00a0280
(20\u00a0990)
20\u00a0237
Stein M. Beyer (former Business Unit Director PIR and Group COO)
31\u00a0848
17 089
(48 937)
0
Total
219\u00a0626
135 676
(198 668)
156\u00a0634
\n
Remuneration to the board of directors
Compensation to the members of the board of
directors is set out below, referring to the actual
expenses paid in the year.
The board\u2019s remuneration is determined by the
general meeting after receiving proposal from
the nomination committee. The remuneration
comprises a fixed payment for board member-
ship and work in sub-committees. In addition,
the board members are compensated for travel
expenses. NORBIT is responsible for payment of
social security taxes, as well as costs for direc-
tors\u2019 and officer\u2019s liability insurance.
The remuneration to the board members is not
performance-related nor does it include share
option elements. The board does not participate
in incentive programmes available to employees
in the group or any other share-based incentive
schemes.
For further information, refer to NORBIT\u2019s Remu-
neration Report to be published to the general
meeting.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK thousand
2025
2024
Finn Haugan
- Chair
593
593
Bente Avnung Landsnes - Deputy Chair
468
468
Trond Tuvstein - Director
375
325
H\u00e5kon Kavli - Director
293
0
Christina Hallin - Director
293
225
Tom Solberg - Deputy Director
150
108
Magnus Reitan - Director
0
243
\n
Remuneration to the members of the executive
management team
Compensation to the executive management
team consists of a fixed salary, variable pay,
share-based remuneration, pension benefits and
other non-cash benefits. In accordance with the
guidelines, a ceiling has been set for variable pay
and performance bonus remuneration.
No member of the executive management team
receives remuneration for directorships in the
group entities. The executive management team
has no special pension and insurance plans.
There are no performance-based pension plans.
No loans, prepayments or other forms of credit
issued to any members of the executive per-
sonnel other than financing available through
the incentive programmes open for all eligible
employees in the group.
Compensation to the executive management
team for 2025 and 2024 is set out below. For fur-
ther information, refer to NORBIT\u2019s Remuneration
Report to be published to the general meeting
20 May 2026, in accordance with the Norwegian
Public Limited Liability Companies Act Section
6-16b and related regulations. The report will also
include information related to derogation and
deviation to the guidelines as approved by the
general meeting 6 May 2024, if any.
\n \n
Fixed salary paid
Variable pay
Pension
Performance-
Amounts in NOK million
Salary
1)
benefits
Other benefits
based bonus
2)
Other bonus
3
)
Total
Per J\u00f8rgen Weisethaunet
2025
3.6
0.1
0.0
7.6
0.0
11.4
(Group CEO)
2024
3.6
0.1
0.0
4.0
0.0
7.8
Per Kristian Reppe
2025
3.1
0.1
0.0
5.8
0.3
9.2
(Group CFO)
2024
2.7
0.1
0.0
3.0
0.5
6.3
Peter Koldgaard Eriksen
2025
4.4
0.1
0.0
4.3
0.1
8.8
(Business Unit Director Oceans)
4)
2024
4.2
0.1
0.0
4.7
0.5
9.5
Julie Dahl Benum
2025
2.0
0.1
0.0
2.9
0.1
5.2
(CSO & Acting Chief Commercial Officer PIR)
2024
1.8
0.1
0.0
1.2
0.0
3.2
Astrid Stevik
2025
1.6
0.1
0.0
0.2
0.1
2.0
(Group COO)
6)
2024
0.3
0.0
0.0
0.0
0.0
0.3
Lino Morgione
2025
0.4
0.1
0.0
0.0
0.1
0.6
(Chief Commercial Officer Connectivity)
5)
2024
0.0
0.0
0.0
0.0
0.0
0.0
Asbj\u00f8rn Dahl
2025
1.1
0.0
0.0
0.4
0.1
1.5
(Former Commercial Director for PIR and Connectivity)
7)
2024
0.3
0.0
0.0
0.0
0.0
0.3
Arild S\u00f8raunet
2025
1.1
0.1
0.0
4.1
0.0
5.4
(Former group CTO)
2024
1.8
0.1
0.0
2.2
0.0
4.2
Stein Martin Beyer
2025
0.0
0.0
0.0
9.2
0.0
9.2
(Former Business Unit Director PIR and group COO)
8)
2024
0.5
0.0
0.0
2.9
0.0
3.5
\n
1) Salaries as expensed, excluding social security taxes.
\n
2) Variable performance-based cash and equity bonus during the year under the incentive program, excluding social security expenses and as expensed.
\n
3) Other cash bonus in the year outside the incentive program, excluding social security expenses.
\n
4) Remuneration in USD, translated to NOK.
\n
5) Remuneration from 1.10-31.12.
\n
6) Remuneration from 1.1-30.9.
\n
7) Remuneration from 1.1-19.8.
\n
8) Share-based compensation vested upon cessation of employment.
Directors\u2019 and executive management\u2019s
shareholding
The following number of shares is owned by
the directors and the members of the executive
management (and their related parties) as of 31
December 2025. In connection with past incen-
tive programmes for all employees in NORBIT,
certain members of the corporate management
team participated in the programmes, whereas
the shares acquired are subject to a lock-up of
24-months.
\u00a0
Shares
Shares not
Total shares
\u00a0
Name
subject to lock-up
subject to lock-up
at year-end
Percentage
Board of directors
\u00a0 \u00a0 \u00a0 \u00a0
Finn Haugan (direct and through MIFI AS)
-
100\u00a0498
100\u00a0498
0.16%
Bente Avnung Landsnes
-
74\u00a0073
74\u00a0073
0.12%
Trond Tuvstein (through TTU Invest AS)
-
32\u00a0894
32\u00a0894
0.05%
H\u00e5kon Kavli
1)
-
-
-
0.00%
Christina Hallin
-
-
-
0.00%
Tom Solberg (through Mariteam AS) - Deputy Director
-
46\u00a0052
46\u00a0052
0.07%
Total shares held by board of directors
-
253\u00a0517
253\u00a0517
0.40%
Executive management
\u00a0 \u00a0 \u00a0 \u00a0
Per J\u00f8rgen Weisethaunet (through Petors AS)
-
6 976 944
6 976 944
10.91%
Per Kristian Reppe
-
97\u00a0075
97\u00a0075
0.15%
Peter K. Eriksen (through Danske Bank A/S)
405
870 245
870 650
1.36%
Astrid Stevik
-
3\u00a0097
3\u00a0097
0.00%
Julie Dahl Benum
-
13\u00a0077
13\u00a0077
0.02%
Lino Morgione
-
6 725
6 725
0.01%
Total shares held by executive management
405
7 967 163
7 967 568
12.46%
\n
1)
H\u00e5kon Kavli represents Reitan Kapital AS on the board. Reitan Kapital AS, through REKAP 2A AS, holds 6 086 781 shares in NORBIT ASA.", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00280": { "value": "Accounting policy - Pensions
For defined contribution plans, contributions are paid into pension insurance plans. Contributions to
defined contributions plans are charged to the income statement in the period to which contributions
relate.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00281": { "value": "Accounting policy - Share-based payments
Share-based payments are recognised as an expense over the vesting period, with a corresponding
increase in equity, reflecting the group\u2019s obligation to deliver shares to employees under the incentive
programmes.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00266": { "value": "Share incentive programmes to employees
At the general meeting held 6 May 2025, the
board of directors was granted an authorisation
to increase NORBIT ASA\u2019s share capital by up
to 2.0 per cent of the share capital to be used to
issue share to the group\u2019s employees in connec-
tion with incentive programmes. The authorisa-
tion is valid until the annual general meeting to
be held 20 May 2026.
In December 2025, the board of directors
approved and implemented an incentive share
purchase programmes for all eligible employees
in NORBIT. A total of 76 077 shares were sub-
scribed for.
The program is a share matching program, where
eligible participants are offered the opportunity
to acquire shares at market value and, in turn, are
granted a conditional right to receive additional
shares with a value corresponding to their invest-
ment, provided they remain employed through-
out a 24-month lock-up period. The offer price
was set to NOK 172.48, corresponding to the five-
day average volume weighted price of NORBIT
ASA\u2019s share prior to 1 December. The shares were
delivered in the form of existing treasury shares
held by the company.
In addition, the board of directors awarded in
August 2025 shares to eligible employees who
participated in the share matching program in
2023. A total of 35\u00a0075 shares were awarded.
The shares were delivered in the form of existing
treasury shares held by the group.
Share-based remuneration to corporate
management
Restricted stock units (RSUs) granted to exec-
utive management give a conditional right to
receive one NORBIT ASA share per unit at no
cost, subject to continued employment.
The number of RSUs awarded are based on a set
of predetermined and measurable performance cri-
teria in the accruing year and the group\u2019s achieve-
ments of certain quantitative and qualitative goals.
The gross bonus amount determined is converted
into a number of RSUs using the volume weighted
average share price for the last five trading days in
the accruing year.The awarded RSUs vest over a
period of three years, with one-third vesting after
the first general meeting following the accrual year,
and the remainder vesting in equal parts over the
following two years.
The total cost of RSU grants is recognised as an
expense over the vesting period. Following the
grant date, only employer\u2019s social security contri-
butions are remeasured based on the share price
at the time of settlement. The number and value
of the granted RSUs remain unchanged.
At 31 December 2025, 156\u00a0634 RSUs were out-
standing under active programmes.
Movement in the number of outstanding RSUs
Amounts in NOK million
2025
2024
Outstanding at 1 January
219\u00a0626
131\u00a0197
Granted during the year
135 676
271\u00a0102
Settled during the year
(198 668)
(182\u00a0673)
Outstanding at 31 December
156\u00a0634
219\u00a0626
Outstanding RSUs in the executive management team
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Outstanding at
\u00a0 \u00a0
Outstanding at
Number of RSUs
1 January
Granted
Settled
31 December
Per J\u00f8rgen Weisethaunet (Group CEO)
48\u00a0732
28\u00a0508
(38\u00a0624)
38\u00a0616
Per Kristian Reppe (Group CFO)
36\u00a0956
21\u00a0480
(29\u00a0111)
29\u00a0325
Peter K. Eriksen (Business Unit Director Oceans)
56\u00a0721
33\u00a0839
(44\u00a0970)
45\u00a0590
Julie Dahl Benum (CSO & Acting Chief Commercial Officer PIR)
18\u00a0422
14\u00a0452
(14\u00a0028)
18\u00a0846
Astrid Stevik (Group COO)
0
2\u00a0045
(681)
1\u00a0364
Lino Morgione (Chief Commercial Officer Connectivity)
0
0
0
0
Asbj\u00f8rn Dahl (former Commercial Director)
0
3\u00a0983
(1\u00a0327)
2\u00a0656
Arild S\u00f8raunet (former Group CTO)
26\u00a0947
14\u00a0280
(20\u00a0990)
20\u00a0237
Stein M. Beyer (former Business Unit Director PIR and Group COO)
31\u00a0848
17 089
(48 937)
0
Total
219\u00a0626
135 676
(198 668)
156\u00a0634
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00267": { "value": "Remuneration to the board of directors
Compensation to the members of the board of
directors is set out below, referring to the actual
expenses paid in the year.
The board\u2019s remuneration is determined by the
general meeting after receiving proposal from
the nomination committee. The remuneration
comprises a fixed payment for board member-
ship and work in sub-committees. In addition,
the board members are compensated for travel
expenses. NORBIT is responsible for payment of
social security taxes, as well as costs for direc-
tors\u2019 and officer\u2019s liability insurance.
The remuneration to the board members is not
performance-related nor does it include share
option elements. The board does not participate
in incentive programmes available to employees
in the group or any other share-based incentive
schemes.
For further information, refer to NORBIT\u2019s Remu-
neration Report to be published to the general
meeting.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK thousand
2025
2024
Finn Haugan
- Chair
593
593
Bente Avnung Landsnes - Deputy Chair
468
468
Trond Tuvstein - Director
375
325
H\u00e5kon Kavli - Director
293
0
Christina Hallin - Director
293
225
Tom Solberg - Deputy Director
150
108
Magnus Reitan - Director
0
243
\n
Remuneration to the members of the executive
management team
Compensation to the executive management
team consists of a fixed salary, variable pay,
share-based remuneration, pension benefits and
other non-cash benefits. In accordance with the
guidelines, a ceiling has been set for variable pay
and performance bonus remuneration.
No member of the executive management team
receives remuneration for directorships in the
group entities. The executive management team
has no special pension and insurance plans.
There are no performance-based pension plans.
No loans, prepayments or other forms of credit
issued to any members of the executive per-
sonnel other than financing available through
the incentive programmes open for all eligible
employees in the group.
Compensation to the executive management
team for 2025 and 2024 is set out below. For fur-
ther information, refer to NORBIT\u2019s Remuneration
Report to be published to the general meeting
20 May 2026, in accordance with the Norwegian
Public Limited Liability Companies Act Section
6-16b and related regulations. The report will also
include information related to derogation and
deviation to the guidelines as approved by the
general meeting 6 May 2024, if any.
\n \n
Fixed salary paid
Variable pay
Pension
Performance-
Amounts in NOK million
Salary
1)
benefits
Other benefits
based bonus
2)
Other bonus
3
)
Total
Per J\u00f8rgen Weisethaunet
2025
3.6
0.1
0.0
7.6
0.0
11.4
(Group CEO)
2024
3.6
0.1
0.0
4.0
0.0
7.8
Per Kristian Reppe
2025
3.1
0.1
0.0
5.8
0.3
9.2
(Group CFO)
2024
2.7
0.1
0.0
3.0
0.5
6.3
Peter Koldgaard Eriksen
2025
4.4
0.1
0.0
4.3
0.1
8.8
(Business Unit Director Oceans)
4)
2024
4.2
0.1
0.0
4.7
0.5
9.5
Julie Dahl Benum
2025
2.0
0.1
0.0
2.9
0.1
5.2
(CSO & Acting Chief Commercial Officer PIR)
2024
1.8
0.1
0.0
1.2
0.0
3.2
Astrid Stevik
2025
1.6
0.1
0.0
0.2
0.1
2.0
(Group COO)
6)
2024
0.3
0.0
0.0
0.0
0.0
0.3
Lino Morgione
2025
0.4
0.1
0.0
0.0
0.1
0.6
(Chief Commercial Officer Connectivity)
5)
2024
0.0
0.0
0.0
0.0
0.0
0.0
Asbj\u00f8rn Dahl
2025
1.1
0.0
0.0
0.4
0.1
1.5
(Former Commercial Director for PIR and Connectivity)
7)
2024
0.3
0.0
0.0
0.0
0.0
0.3
Arild S\u00f8raunet
2025
1.1
0.1
0.0
4.1
0.0
5.4
(Former group CTO)
2024
1.8
0.1
0.0
2.2
0.0
4.2
Stein Martin Beyer
2025
0.0
0.0
0.0
9.2
0.0
9.2
(Former Business Unit Director PIR and group COO)
8)
2024
0.5
0.0
0.0
2.9
0.0
3.5
\n
1) Salaries as expensed, excluding social security taxes.
\n
2) Variable performance-based cash and equity bonus during the year under the incentive program, excluding social security expenses and as expensed.
\n
3) Other cash bonus in the year outside the incentive program, excluding social security expenses.
\n
4) Remuneration in USD, translated to NOK.
\n
5) Remuneration from 1.10-31.12.
\n
6) Remuneration from 1.1-30.9.
\n
7) Remuneration from 1.1-19.8.
\n
8) Share-based compensation vested upon cessation of employment.
Directors\u2019 and executive management\u2019s
shareholding
The following number of shares is owned by
the directors and the members of the executive
management (and their related parties) as of 31
December 2025. In connection with past incen-
tive programmes for all employees in NORBIT,
certain members of the corporate management
team participated in the programmes, whereas
the shares acquired are subject to a lock-up of
24-months.
\u00a0
Shares
Shares not
Total shares
\u00a0
Name
subject to lock-up
subject to lock-up
at year-end
Percentage
Board of directors
\u00a0 \u00a0 \u00a0 \u00a0
Finn Haugan (direct and through MIFI AS)
-
100\u00a0498
100\u00a0498
0.16%
Bente Avnung Landsnes
-
74\u00a0073
74\u00a0073
0.12%
Trond Tuvstein (through TTU Invest AS)
-
32\u00a0894
32\u00a0894
0.05%
H\u00e5kon Kavli
1)
-
-
-
0.00%
Christina Hallin
-
-
-
0.00%
Tom Solberg (through Mariteam AS) - Deputy Director
-
46\u00a0052
46\u00a0052
0.07%
Total shares held by board of directors
-
253\u00a0517
253\u00a0517
0.40%
Executive management
\u00a0 \u00a0 \u00a0 \u00a0
Per J\u00f8rgen Weisethaunet (through Petors AS)
-
6 976 944
6 976 944
10.91%
Per Kristian Reppe
-
97\u00a0075
97\u00a0075
0.15%
Peter K. Eriksen (through Danske Bank A/S)
405
870 245
870 650
1.36%
Astrid Stevik
-
3\u00a0097
3\u00a0097
0.00%
Julie Dahl Benum
-
13\u00a0077
13\u00a0077
0.02%
Lino Morgione
-
6 725
6 725
0.01%
Total shares held by executive management
405
7 967 163
7 967 568
12.46%
\n
1)
H\u00e5kon Kavli represents Reitan Kapital AS on the board. Reitan Kapital AS, through REKAP 2A AS, holds 6 086 781 shares in NORBIT ASA.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00236": { "value": "Note 2.4
Other operating expenses
Amounts in NOK million
2025
2024
External services
89.2
86.8
Travel expenses
23.7
17.3
Freight
12.3
13.8
Office supplies
9.1
6.9
Marketing
11.3
5.9
Guarantee, service and support
3.7
5.9
Other operating expenses
32.2
19.8
Total operating expenses
181.5
156.4
\n
Fees to the auditors
The table to the right summarises audit fees, as
well as fees for other audited related services
incurred by the group during 2025 and 2024.
Amounts in NOK million
2025
2024
Audit fee financial statments
1.4
1.5
Audit fee integrated sustainability report
1.1
0.3
Other assurance services
0.1
0.2
Auditor's remuneration in other operating expenses
2.5
2.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00237": { "value": "Fees to the auditors
The table to the right summarises audit fees, as
well as fees for other audited related services
incurred by the group during 2025 and 2024.
Amounts in NOK million
2025
2024
Audit fee financial statments
1.4
1.5
Audit fee integrated sustainability report
1.1
0.3
Other assurance services
0.1
0.2
Auditor's remuneration in other operating expenses
2.5
2.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00270": { "value": "Note 2.5
Government grants
P
Accounting policy \u2013 Government grants
Grants are recognised when there is reasonable assurance that they will be received and that the
group meets the conditions for the grants. The grants are measured at fair value at the transaction
date and presented either as a reduction of related expenses or, when directly linked to capitalised
assets, as a reduction of the carrying amount of the asset.
The group received government grants of NOK 14.2 million in 2025 (NOK 11.9 million in 2024). The grants
primarily relate to support for development projects and reimbursements of personnel-related costs.", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00282": { "value": "Accounting policy \u2013 Government grants
Grants are recognised when there is reasonable assurance that they will be received and that the
group meets the conditions for the grants. The grants are measured at fair value at the transaction
date and presented either as a reduction of related expenses or, when directly linked to capitalised
assets, as a reduction of the carrying amount of the asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00238": { "value": "Note 2.6
Financial income and financial expenses
P
Accounting policy \u2013 Financial income and financial expenses
Interest income and expenses are recognised using the effective interest method. Other financial
income and expenses are recognised in profit or loss as incurred.
Financial income comprises interest income, foreign exchange gains and other finance-related income.
Financial expenses comprise interest expenses, foreign exchange losses and other finance-related costs.
Amounts in NOK million
2025
2024
Financial income
\u00a0 \u00a0
Financial exchange gain (net)
5.4
11.4
Interest income
33.9
23.3
Other financial income
1.9
3.5
Financial income
41.3
38.3
Financial expenses
\u00a0 \u00a0
Interest expenses
67.5
59.8
Financial exchange loss (net)
0.0
0.0
Other financial expenses
2.7
1.7
Financial expenses
70.2
61.5
Share of profit of associates
(0.1)
(0.2)
Net financial items
(29.1)
(23.4)
\n
See
note 4.6
for details on profit from associates.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00239": { "value": "Note 2.6
Financial income and financial expenses
P
Accounting policy \u2013 Financial income and financial expenses
Interest income and expenses are recognised using the effective interest method. Other financial
income and expenses are recognised in profit or loss as incurred.
Financial income comprises interest income, foreign exchange gains and other finance-related income.
Financial expenses comprise interest expenses, foreign exchange losses and other finance-related costs.
Amounts in NOK million
2025
2024
Financial income
\u00a0 \u00a0
Financial exchange gain (net)
5.4
11.4
Interest income
33.9
23.3
Other financial income
1.9
3.5
Financial income
41.3
38.3
Financial expenses
\u00a0 \u00a0
Interest expenses
67.5
59.8
Financial exchange loss (net)
0.0
0.0
Other financial expenses
2.7
1.7
Financial expenses
70.2
61.5
Share of profit of associates
(0.1)
(0.2)
Net financial items
(29.1)
(23.4)
\n
See
note 4.6
for details on profit from associates.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00240": { "value": "Note 2.6
Financial income and financial expenses
P
Accounting policy \u2013 Financial income and financial expenses
Interest income and expenses are recognised using the effective interest method. Other financial
income and expenses are recognised in profit or loss as incurred.
Financial income comprises interest income, foreign exchange gains and other finance-related income.
Financial expenses comprise interest expenses, foreign exchange losses and other finance-related costs.
Amounts in NOK million
2025
2024
Financial income
\u00a0 \u00a0
Financial exchange gain (net)
5.4
11.4
Interest income
33.9
23.3
Other financial income
1.9
3.5
Financial income
41.3
38.3
Financial expenses
\u00a0 \u00a0
Interest expenses
67.5
59.8
Financial exchange loss (net)
0.0
0.0
Other financial expenses
2.7
1.7
Financial expenses
70.2
61.5
Share of profit of associates
(0.1)
(0.2)
Net financial items
(29.1)
(23.4)
\n
See
note 4.6
for details on profit from associates.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00283": { "value": "Accounting policy \u2013 Financial income and financial expenses
Interest income and expenses are recognised using the effective interest method. Other financial
income and expenses are recognised in profit or loss as incurred.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00284": { "value": "Accounting policy \u2013 Financial income and financial expenses
Interest income and expenses are recognised using the effective interest method. Other financial
income and expenses are recognised in profit or loss as incurred.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00241": { "value": "Note 2.7
Income tax
P
Accounting policy \u2013 Income tax
Income tax includes current and deferred tax. Current tax is calculated on taxable income for the year
using the tax rates applicable at the balance sheet date. Deferred tax assets and liabilities are meas-
ured using the tax rates expected to apply when the assets are realised or the liabilities settled and
are offset when a legal right to offset current tax balances exists.
Deferred tax is recognised for temporary differences between the carrying amounts of assets and
liabilities and their tax bases, using the liability method. It is not recognised for goodwill that is not
deductible for tax purposes, or for temporary differences arising on initial recognition of assets and
liabilities that are not business combinations and affect neither accounting nor taxable profit.
Deferred tax assets are recognised only when it is probable that future taxable profits will be available
to utilise the deductible differences.
Income tax specification
Amounts in NOK million
2025
2024
Current tax
\u00a0 \u00a0
Current tax on profits Norwegian companies
104.7
57.7
Current tax on profits foreign companies
22.9
19.1
Adjustments for current tax of prior periods
0.8
(0.4)
Total current tax expense
128.4
76.4
Deferred income tax
\u00a0 \u00a0
Change in deferred tax
(6.4)
(1.4)
Total deferred tax expense/(benefit)
(6.4)
(1.4)
Total income tax expense
122.0
75.0
Reconciliation between nominal and effective tax rates
Amounts in NOK million
2025
2024
Profit before income tax expense
526.3
318.3
Expected tax calculated at Norwegian tax rate of 22%
115.8
70.0
Effect of different tax rates abroad
2.7
1.8
Non-recognition of deferred tax assets on tax losses in foreign subsidiaries
2.9
2.7
Change in not recognised deferred tax assets
1.3
(1.3)
Other items
(0.7)
1.7
Total income tax expense
122.0
75.0
Effective tax rate
23%
24%
\n
The difference between the nominal tax rate of 22 per cent and the effective tax rate of 23 per cent in
2025 is mainly attributable to foreign subsidiaries being subject to higher local tax rates than in Norway.
Amounts recognised directly in equity
Amounts in NOK million
2025
2024
Deferred tax
0.0
0.0
Total
0.0
0.0
\n
Deferred tax assets
Amounts in NOK million
2025
2024
The balance comprises temporary differences attributable to:
\u00a0\u00a0
Intangible and fixed assets
(3.1)
(4.7)
Inventories
(3.7)
(4.3)
Other assets and liabilities
(4.3)
(3.2)
Tax losses
(9.6)
(4.1)
Total
(20.9)
(16.3)
Total deferred tax assets
(20.9)
(16.3)
Unrecognised deferred tax assets
4.1
2.8
Net deferred tax assets
(16.7)
(13.5)
\n
The group has tax losses in certain foreign subsidiaries for which deferred tax assets have not been
recognised due to uncertainty regarding future taxable profits.
Deferred tax
Amounts in NOK million
2025
2024
The balance comprises temporary differences attributable to:
\u00a0 \u00a0
Intangible and fixed assets
25.7
29.0
Total
25.7
29.0
\n
Change in deferred tax and tax assets
\u00a0
Tax
Intangible and
\u00a0 \u00a0 \u00a0
Amounts in NOK million
losses
fixed assets
Inventories
Other
Total
Balance at 1 January 2024
0.0
(12.4)
(2.4)
1.0
(13.9)
(Charged)/credited - to profit or loss
(4.1)
6.3
(1.6)
(0.1)
0.4
Balance at 31 December 2024
(4.1)
(6.1)
(4.1)
0.9
(13.5)
Balance at 1 January 2025
(4.1)
(6.1)
(4.1)
0.9
(13.5)
(Charged)/credited - to profit or loss
(5.5)
2.8
0.5
(1.1)
(3.2)
Translation differences
(0.1)
0.0
0.0
0.0
(0.1)
At 31 December 2025
(9.7)
(3.3)
(3.5)
(0.2)
(16.7)
\n
Change in net deferred tax assets
\u00a0
Tax
Intangible and
\u00a0 \u00a0 \u00a0
Amounts in NOK million
losses
fixed assets
Inventories
Other
Total
Balance at 1 January 2024
0.0
3.1
0.0
0.0
3.1
(Charged)/credited - to profit or loss
0.0
(1.8)
0.0
0.0
(1.8)
Acquisition of subsidiary
0.0
27.4
0.0
0.0
27.4
Translation differences
0.0
0.3
0.0
0.0
0.3
Balance at 31 December 2024
0.0
29.0
0.0
0.0
29.0
Balance at 1 January 2025
0.0
29.0
0.0
0.0
29.0
(Charged)/credited - to profit or loss
0.0
(3.2)
0.0
0.0
(3.2)
Acquisition of subsidiary
0.0
0.0
0.0
0.0
0.0
Translation differences
0.0
(0.0)
0.0
0.0
(0.0)
At 31 December 2025
0.0
25.7
0.0
0.0
25.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00242": { "value": "Note 2.7
Income tax
P
Accounting policy \u2013 Income tax
Income tax includes current and deferred tax. Current tax is calculated on taxable income for the year
using the tax rates applicable at the balance sheet date. Deferred tax assets and liabilities are meas-
ured using the tax rates expected to apply when the assets are realised or the liabilities settled and
are offset when a legal right to offset current tax balances exists.
Deferred tax is recognised for temporary differences between the carrying amounts of assets and
liabilities and their tax bases, using the liability method. It is not recognised for goodwill that is not
deductible for tax purposes, or for temporary differences arising on initial recognition of assets and
liabilities that are not business combinations and affect neither accounting nor taxable profit.
Deferred tax assets are recognised only when it is probable that future taxable profits will be available
to utilise the deductible differences.
Income tax specification
Amounts in NOK million
2025
2024
Current tax
\u00a0 \u00a0
Current tax on profits Norwegian companies
104.7
57.7
Current tax on profits foreign companies
22.9
19.1
Adjustments for current tax of prior periods
0.8
(0.4)
Total current tax expense
128.4
76.4
Deferred income tax
\u00a0 \u00a0
Change in deferred tax
(6.4)
(1.4)
Total deferred tax expense/(benefit)
(6.4)
(1.4)
Total income tax expense
122.0
75.0
Reconciliation between nominal and effective tax rates
Amounts in NOK million
2025
2024
Profit before income tax expense
526.3
318.3
Expected tax calculated at Norwegian tax rate of 22%
115.8
70.0
Effect of different tax rates abroad
2.7
1.8
Non-recognition of deferred tax assets on tax losses in foreign subsidiaries
2.9
2.7
Change in not recognised deferred tax assets
1.3
(1.3)
Other items
(0.7)
1.7
Total income tax expense
122.0
75.0
Effective tax rate
23%
24%
\n
The difference between the nominal tax rate of 22 per cent and the effective tax rate of 23 per cent in
2025 is mainly attributable to foreign subsidiaries being subject to higher local tax rates than in Norway.
Amounts recognised directly in equity
Amounts in NOK million
2025
2024
Deferred tax
0.0
0.0
Total
0.0
0.0
\n
Deferred tax assets
Amounts in NOK million
2025
2024
The balance comprises temporary differences attributable to:
\u00a0\u00a0
Intangible and fixed assets
(3.1)
(4.7)
Inventories
(3.7)
(4.3)
Other assets and liabilities
(4.3)
(3.2)
Tax losses
(9.6)
(4.1)
Total
(20.9)
(16.3)
Total deferred tax assets
(20.9)
(16.3)
Unrecognised deferred tax assets
4.1
2.8
Net deferred tax assets
(16.7)
(13.5)
\n
The group has tax losses in certain foreign subsidiaries for which deferred tax assets have not been
recognised due to uncertainty regarding future taxable profits.
Deferred tax
Amounts in NOK million
2025
2024
The balance comprises temporary differences attributable to:
\u00a0 \u00a0
Intangible and fixed assets
25.7
29.0
Total
25.7
29.0
\n
Change in deferred tax and tax assets
\u00a0
Tax
Intangible and
\u00a0 \u00a0 \u00a0
Amounts in NOK million
losses
fixed assets
Inventories
Other
Total
Balance at 1 January 2024
0.0
(12.4)
(2.4)
1.0
(13.9)
(Charged)/credited - to profit or loss
(4.1)
6.3
(1.6)
(0.1)
0.4
Balance at 31 December 2024
(4.1)
(6.1)
(4.1)
0.9
(13.5)
Balance at 1 January 2025
(4.1)
(6.1)
(4.1)
0.9
(13.5)
(Charged)/credited - to profit or loss
(5.5)
2.8
0.5
(1.1)
(3.2)
Translation differences
(0.1)
0.0
0.0
0.0
(0.1)
At 31 December 2025
(9.7)
(3.3)
(3.5)
(0.2)
(16.7)
\n
Change in net deferred tax assets
\u00a0
Tax
Intangible and
\u00a0 \u00a0 \u00a0
Amounts in NOK million
losses
fixed assets
Inventories
Other
Total
Balance at 1 January 2024
0.0
3.1
0.0
0.0
3.1
(Charged)/credited - to profit or loss
0.0
(1.8)
0.0
0.0
(1.8)
Acquisition of subsidiary
0.0
27.4
0.0
0.0
27.4
Translation differences
0.0
0.3
0.0
0.0
0.3
Balance at 31 December 2024
0.0
29.0
0.0
0.0
29.0
Balance at 1 January 2025
0.0
29.0
0.0
0.0
29.0
(Charged)/credited - to profit or loss
0.0
(3.2)
0.0
0.0
(3.2)
Acquisition of subsidiary
0.0
0.0
0.0
0.0
0.0
Translation differences
0.0
(0.0)
0.0
0.0
(0.0)
At 31 December 2025
0.0
25.7
0.0
0.0
25.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00351": { "value": "Accounting policy \u2013 Income tax
Income tax includes current and deferred tax. Current tax is calculated on taxable income for the year
using the tax rates applicable at the balance sheet date. Deferred tax assets and liabilities are meas-
ured using the tax rates expected to apply when the assets are realised or the liabilities settled and
are offset when a legal right to offset current tax balances exists.
Deferred tax is recognised for temporary differences between the carrying amounts of assets and
liabilities and their tax bases, using the liability method. It is not recognised for goodwill that is not
deductible for tax purposes, or for temporary differences arising on initial recognition of assets and
liabilities that are not business combinations and affect neither accounting nor taxable profit.
Deferred tax assets are recognised only when it is probable that future taxable profits will be available
to utilise the deductible differences.", "dimensions": { "concept": "nk:DescriptionOfAccountingPolicyForDeferredTaxAssetExplanatoryTextBlock", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00286": { "value": "Accounting policy \u2013 Income tax
Income tax includes current and deferred tax. Current tax is calculated on taxable income for the year
using the tax rates applicable at the balance sheet date. Deferred tax assets and liabilities are meas-
ured using the tax rates expected to apply when the assets are realised or the liabilities settled and
are offset when a legal right to offset current tax balances exists.
Deferred tax is recognised for temporary differences between the carrying amounts of assets and
liabilities and their tax bases, using the liability method. It is not recognised for goodwill that is not
deductible for tax purposes, or for temporary differences arising on initial recognition of assets and
liabilities that are not business combinations and affect neither accounting nor taxable profit.
Deferred tax assets are recognised only when it is probable that future taxable profits will be available
to utilise the deductible differences.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00285": { "value": "Accounting policy \u2013 Income tax
Income tax includes current and deferred tax. Current tax is calculated on taxable income for the year
using the tax rates applicable at the balance sheet date. Deferred tax assets and liabilities are meas-
ured using the tax rates expected to apply when the assets are realised or the liabilities settled and
are offset when a legal right to offset current tax balances exists.
Deferred tax is recognised for temporary differences between the carrying amounts of assets and
liabilities and their tax bases, using the liability method. It is not recognised for goodwill that is not
deductible for tax purposes, or for temporary differences arising on initial recognition of assets and
liabilities that are not business combinations and affect neither accounting nor taxable profit.
Deferred tax assets are recognised only when it is probable that future taxable profits will be available
to utilise the deductible differences.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00250": { "value": "Note 3.1 Goodwill and intangible assetsP
Accounting policy \u2013 Goodwill
Goodwill from business combinations represents the difference between the consideration trans-
ferred and the fair value of the identifiable net assets at the acquisition date. Goodwill is measured at
cost less accumulated impairment losses.
E
Estimate uncertainty
Impairment testing of goodwill and intangible assets involves significant judgement. The key assump-
tions applied include discount rates, future cash flows and long-term growth expectations have a
material impact on whether an impairment is recognised.
Intangible assets
Intangible assets mainly consist of capitalised
development costs and identifiable intangibles
acquired through business combinations, such as
customer relationships and technology.
The group invested NOK 139.0 million in intan-
gible assets during 2025. The capitalised devel-
opment expenditures primarily relate to the
expansion of the product offering within the
Oceans and Connectivity segments.
Within Oceans, the majority of the investments
were related to the development of new prod-
ucts within the group\u2019s subsea sonar portfolio.
Within Connectivity, the most significant develop-
ment activities related to the GNSS on-board unit
(OBU) platform.
Intangible assets
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Development
Trademark and
Total excluding
\u00a0
Amounts in NOK million
costs
customer relationships
goodwill
Goodwill
Cost at 1 January 2024
515.3
88.5
603.9
111.1
Accumulated amortisation
(272.5)
(15.7)
(288.2)
0.0
Accumulated impairment
(12.3)
0.0
(12.3)
0.0
Translation differences
(0.9)
0.7
(0.2)
0.0
Net book amount at 1 January 2024
229.7
73.5
303.2
111.1
Additions from acquisition of companies
0.0
81.7
81.7
381.3
Reclassifications
9.4
(9.4)
0.0
0.0
Additions
104.8
0.0
104.8
0.0
Amortisation charge
(56.6)
(13.0)
(69.6)
0.0
Impairment
(3.4)
0.0
(3.4)
0.0
Translation differences
(0.4)
2.7
2.3
5.0
Net book amount at 31 December 2024
283.4
135.4
418.9
497.4
Cost at 1 January 2025
629.5
160.8
790.4
492.4
Accumulated amortisation
(329.1)
(28.7)
(357.8)
0.0
Accumulated impairment
(15.7)
0.0
(15.7)
0.0
Translation differences
(1.3)
3.4
2.1
5.0
Net book amount at 1 January 2025
283.4
135.4
418.9
497.4
Additions from acquisition of companies
0.0
3.0
3.0
0.0
Additions
138.8
0.1
139.0
0.0
Disposals
0.0
0.0
0.0
(2.3)
Amortisation charge
(64.8)
(18.6)
(83.4)
0.0
Impairment
0.0
0.0
0.0
0.0
Translation differences
1.2
(2.0)
(0.8)
1.6
Net book amount at 31 December 2025
358.7
118.0
476.7
496.7
Useful life
3-7 years
10 years
\u00a0\u00a0
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00248": { "value": "Note 3.1
Goodwill and intangible assets
P
Accounting policy \u2013 Development cost
Development costs are capitalised when the project is technically and commercially feasible,
expected to generate future economic benefits, and the group has the resources to complete it. Capi-
talised costs, including materials, labour and directly attributable expenses, are measured at historical
cost less accumulated amortisation and impairment losses. Other development costs are expensed as
incurred, and amortisation is recognised on a straight-line basis from the date the asset is available for
use.
P
Accounting policy \u2013 Goodwill
Goodwill from business combinations represents the difference between the consideration trans-
ferred and the fair value of the identifiable net assets at the acquisition date. Goodwill is measured at
cost less accumulated impairment losses.
E
Estimate uncertainty
Impairment testing of goodwill and intangible assets involves significant judgement. The key assump-
tions applied include discount rates, future cash flows and long-term growth expectations have a
material impact on whether an impairment is recognised.
Intangible assets
Intangible assets mainly consist of capitalised
development costs and identifiable intangibles
acquired through business combinations, such as
customer relationships and technology.
The group invested NOK 139.0 million in intan-
gible assets during 2025. The capitalised devel-
opment expenditures primarily relate to the
expansion of the product offering within the
Oceans and Connectivity segments.
Within Oceans, the majority of the investments
were related to the development of new prod-
ucts within the group\u2019s subsea sonar portfolio.
Within Connectivity, the most significant develop-
ment activities related to the GNSS on-board unit
(OBU) platform.
Intangible assets
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Development
Trademark and
Total excluding
\u00a0
Amounts in NOK million
costs
customer relationships
goodwill
Goodwill
Cost at 1 January 2024
515.3
88.5
603.9
111.1
Accumulated amortisation
(272.5)
(15.7)
(288.2)
0.0
Accumulated impairment
(12.3)
0.0
(12.3)
0.0
Translation differences
(0.9)
0.7
(0.2)
0.0
Net book amount at 1 January 2024
229.7
73.5
303.2
111.1
Additions from acquisition of companies
0.0
81.7
81.7
381.3
Reclassifications
9.4
(9.4)
0.0
0.0
Additions
104.8
0.0
104.8
0.0
Amortisation charge
(56.6)
(13.0)
(69.6)
0.0
Impairment
(3.4)
0.0
(3.4)
0.0
Translation differences
(0.4)
2.7
2.3
5.0
Net book amount at 31 December 2024
283.4
135.4
418.9
497.4
Cost at 1 January 2025
629.5
160.8
790.4
492.4
Accumulated amortisation
(329.1)
(28.7)
(357.8)
0.0
Accumulated impairment
(15.7)
0.0
(15.7)
0.0
Translation differences
(1.3)
3.4
2.1
5.0
Net book amount at 1 January 2025
283.4
135.4
418.9
497.4
Additions from acquisition of companies
0.0
3.0
3.0
0.0
Additions
138.8
0.1
139.0
0.0
Disposals
0.0
0.0
0.0
(2.3)
Amortisation charge
(64.8)
(18.6)
(83.4)
0.0
Impairment
0.0
0.0
0.0
0.0
Translation differences
1.2
(2.0)
(0.8)
1.6
Net book amount at 31 December 2025
358.7
118.0
476.7
496.7
Useful life
3-7 years
10 years
\u00a0\u00a0
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00249": { "value": "Note 3.1
Goodwill and intangible assets
P
Accounting policy \u2013 Development cost
Development costs are capitalised when the project is technically and commercially feasible,
expected to generate future economic benefits, and the group has the resources to complete it. Capi-
talised costs, including materials, labour and directly attributable expenses, are measured at historical
cost less accumulated amortisation and impairment losses. Other development costs are expensed as
incurred, and amortisation is recognised on a straight-line basis from the date the asset is available for
use.
P
Accounting policy \u2013 Goodwill
Goodwill from business combinations represents the difference between the consideration trans-
ferred and the fair value of the identifiable net assets at the acquisition date. Goodwill is measured at
cost less accumulated impairment losses.
E
Estimate uncertainty
Impairment testing of goodwill and intangible assets involves significant judgement. The key assump-
tions applied include discount rates, future cash flows and long-term growth expectations have a
material impact on whether an impairment is recognised.
Intangible assets
Intangible assets mainly consist of capitalised
development costs and identifiable intangibles
acquired through business combinations, such as
customer relationships and technology.
The group invested NOK 139.0 million in intan-
gible assets during 2025. The capitalised devel-
opment expenditures primarily relate to the
expansion of the product offering within the
Oceans and Connectivity segments.
Within Oceans, the majority of the investments
were related to the development of new prod-
ucts within the group\u2019s subsea sonar portfolio.
Within Connectivity, the most significant develop-
ment activities related to the GNSS on-board unit
(OBU) platform.
Intangible assets
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Development
Trademark and
Total excluding
\u00a0
Amounts in NOK million
costs
customer relationships
goodwill
Goodwill
Cost at 1 January 2024
515.3
88.5
603.9
111.1
Accumulated amortisation
(272.5)
(15.7)
(288.2)
0.0
Accumulated impairment
(12.3)
0.0
(12.3)
0.0
Translation differences
(0.9)
0.7
(0.2)
0.0
Net book amount at 1 January 2024
229.7
73.5
303.2
111.1
Additions from acquisition of companies
0.0
81.7
81.7
381.3
Reclassifications
9.4
(9.4)
0.0
0.0
Additions
104.8
0.0
104.8
0.0
Amortisation charge
(56.6)
(13.0)
(69.6)
0.0
Impairment
(3.4)
0.0
(3.4)
0.0
Translation differences
(0.4)
2.7
2.3
5.0
Net book amount at 31 December 2024
283.4
135.4
418.9
497.4
Cost at 1 January 2025
629.5
160.8
790.4
492.4
Accumulated amortisation
(329.1)
(28.7)
(357.8)
0.0
Accumulated impairment
(15.7)
0.0
(15.7)
0.0
Translation differences
(1.3)
3.4
2.1
5.0
Net book amount at 1 January 2025
283.4
135.4
418.9
497.4
Additions from acquisition of companies
0.0
3.0
3.0
0.0
Additions
138.8
0.1
139.0
0.0
Disposals
0.0
0.0
0.0
(2.3)
Amortisation charge
(64.8)
(18.6)
(83.4)
0.0
Impairment
0.0
0.0
0.0
0.0
Translation differences
1.2
(2.0)
(0.8)
1.6
Net book amount at 31 December 2025
358.7
118.0
476.7
496.7
Useful life
3-7 years
10 years
\u00a0\u00a0
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00292": { "value": "Accounting policy \u2013 Development cost
Development costs are capitalised when the project is technically and commercially feasible,
expected to generate future economic benefits, and the group has the resources to complete it. Capi-
talised costs, including materials, labour and directly attributable expenses, are measured at historical
cost less accumulated amortisation and impairment losses. Other development costs are expensed as
incurred, and amortisation is recognised on a straight-line basis from the date the asset is available for
use.
P
Accounting policy \u2013 Goodwill
Goodwill from business combinations represents the difference between the consideration trans-
ferred and the fair value of the identifiable net assets at the acquisition date. Goodwill is measured at
cost less accumulated impairment losses.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00293": { "value": "Accounting policy \u2013 Development cost
Development costs are capitalised when the project is technically and commercially feasible,
expected to generate future economic benefits, and the group has the resources to complete it. Capi-
talised costs, including materials, labour and directly attributable expenses, are measured at historical
cost less accumulated amortisation and impairment losses. Other development costs are expensed as
incurred, and amortisation is recognised on a straight-line basis from the date the asset is available for
use.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00294": { "value": "Accounting policy \u2013 Goodwill
Goodwill from business combinations represents the difference between the consideration trans-
ferred and the fair value of the identifiable net assets at the acquisition date. Goodwill is measured at
cost less accumulated impairment losses.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00245": { "value": "Intangible assets \n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Development
Trademark and
Total excluding
\u00a0
Amounts in NOK million
costs
customer relationships
goodwill
Goodwill
Cost at 1 January 2024
515.3
88.5
603.9
111.1
Accumulated amortisation
(272.5)
(15.7)
(288.2)
0.0
Accumulated impairment
(12.3)
0.0
(12.3)
0.0
Translation differences
(0.9)
0.7
(0.2)
0.0
Net book amount at 1 January 2024
229.7
73.5
303.2
111.1
Additions from acquisition of companies
0.0
81.7
81.7
381.3
Reclassifications
9.4
(9.4)
0.0
0.0
Additions
104.8
0.0
104.8
0.0
Amortisation charge
(56.6)
(13.0)
(69.6)
0.0
Impairment
(3.4)
0.0
(3.4)
0.0
Translation differences
(0.4)
2.7
2.3
5.0
Net book amount at 31 December 2024
283.4
135.4
418.9
497.4
Cost at 1 January 2025
629.5
160.8
790.4
492.4
Accumulated amortisation
(329.1)
(28.7)
(357.8)
0.0
Accumulated impairment
(15.7)
0.0
(15.7)
0.0
Translation differences
(1.3)
3.4
2.1
5.0
Net book amount at 1 January 2025
283.4
135.4
418.9
497.4
Additions from acquisition of companies
0.0
3.0
3.0
0.0
Additions
138.8
0.1
139.0
0.0
Disposals
0.0
0.0
0.0
(2.3)
Amortisation charge
(64.8)
(18.6)
(83.4)
0.0
Impairment
0.0
0.0
0.0
0.0
Translation differences
1.2
(2.0)
(0.8)
1.6
Net book amount at 31 December 2025
358.7
118.0
476.7
496.7
Useful life
3-7 years
10 years
\u00a0\u00a0
\n
\u00a0 \u00a0
Machinery,
\u00a0
\u00a0
Land and
fixtures
\u00a0
Amounts in NOK million
properties
and fittings
Total
Cost at 1 January 2024
99.9
325.9
425.8
Accumulated depreciation
(38.0)
(222.4)
(260.4)
Translation differences
0.0
0.9
0.9
Net book amount at 1 January 2024
61.9
104.4
166.3
Additions from acquisition of companies
8.2
3.8
11.9
Additions
2.5
37.4
39.8
Depreciation charge
(5.7)
(31.6)
(37.2)
Translation differences
0.2
(0.1)
0.1
Net book amount at 31 December 2024
67.0
113.8
180.9
Cost at 1 January 2025
110.5
367.0
477.5
Accumulated depreciation
(43.6)
(254.0)
(297.6)
Translation differences
0.2
0.8
0.9
Net book amount at 1 January 2025
67.0
113.8
180.9
Additions from acquisition of companies
0.0
0.0
0.0
Additions
13.9
47.8
61.7
Depreciation charge
(5.3)
(37.0)
(42.3)
Translation differences
0.0
0.5
0.5
Net book amount at 31 December 2025
75.7
125.1
200.8
Useful life
25 years
3-7 years
\u00a0
Depreciation method
Linear
Linear
\u00a0
\n
\u00a0 \u00a0
Mahinery and
\u00a0
Amounts in NOK million
Buildings
vehicles
Total
Balance at 31 December 2023
22.2
32.0
54.2
Additions
9.5
51.5
61.0
Depreciation expense
(12.2)
(9.9)
(22.0)
Balance at 31 December 2024
19.5
73.6
93.1
Balance at 31 December 2024
19.5
73.6
93.1
Additions
68.3
59.1
127.4
Depreciation expense
(14.1)
(17.0)
(31.2)
Balance at 31 December 2025
73.7
115.7
189.4
\n
Leasing liabilities
Amounts in NOK million
2025
2024
Balance at 1 January
95.3
54.7
Additions
127.4
61.0
Accrued interest expense
6.9
4.5
Lease payments
(35.6)
(24.8)
Balance at 31 December
194.1
95.3
Current lease liabilities
39.0
20.9
Non-current lease liabilities
155.1
74.4
Total
194.1
95.3
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00246": { "value": "Note 3.2
Impairment assessments
P
Accounting policy \u2013 Impairment of non-financial assets
All non-financial assets (except deferred tax assets and inventories) are reviewed at each report-
ing date to identify any indications of impairment. When such indicators are present, the recovera-
ble amount of the asset or the cash-generating unit (CGU) to which it belongs is estimated. Intangible
assets with indefinite useful lives and those not yet available for use are tested for impairment annu-
ally, or more frequently if indicators arise.
An impairment loss is recognised when the carrying amount exceeds the recoverable amount, which
is the higher of fair value less costs of disposal and value in use. Value in use is determined by dis-
counting expected future cash flows using a pre-tax discount rate that reflects current market assess-
ments of the time value of money and asset-specific risks.
Impairment losses on goodwill are not reversed. For other assets, reversals are recognised only if
there has been a change in the estimates used and the asset\u2019s carrying amount does not exceed the
amount that would have been recognised had no impairment been recorded.
This note provides further information on impair-
ment assessments related to the intangible
assets and goodwill presented in
note 3.1
. It also
includes the group\u2019s approach to identifying and
measuring impairment for other non-financial
assets where applicable.
Impairment testing of intangible assets
As part of the annual impairment review, NORBIT
evaluates intangible assets allocated to defined
cash-generating units (CGUs). These consist of:
^
NORBIT Connectivity:
Technology for dedi-
cated short-range communication, including
On-Board Units, satellite-based tolling and
enforcement modules for tachographs (seg-
ment Connectivity).
^
NORBIT iData:
Software technology devel-
oped under the iTrack brand (segment Con-
nectivity).
^
NORBIT Oceans \u2013 Products:
Technology
for subsea sonars for seabed mapping and
hydrography.
^
NORBIT Oceans \u2013 Solutions:
Technology for
security and environmental monitoring appli-
cations in maritime environments.
The recoverable amount for each CGU is deter-
mined using value-in-use calculations based on
projected future cash flows. The cash-flow pro-
jections incorporate forecast revenues, oper-
ating costs, capital expenditure requirements
and working capital assumptions. The analyses
are based on management\u2019s budgets and fore-
casts, supported by external market data and
observable valuation benchmarks. Management
evaluates the accuracy of prior estimates and
considers current market conditions when updat-
ing the key assumptions.
Future cash flows are discounted using
CGU-specific rates ranging from 10.1 to 10.3 per
cent (2024: 10.2\u201310.5 per cent). The discount
rates are based on observable market data and
the weighted average cost of capital (WACC) of
comparable listed companies with similar risk
profiles.
Following the divestment of lighting products to
the aquaculture market, NORBIT recognised an
impairment loss of NOK 3.4 million on intangi-
ble assets in 2024. No indications of impairment
were identified in 2025, as recoverable amounts
significantly exceeded carrying values.
Impairment testing of goodwill
Goodwill recognised 31 December 2025
amounted to NOK 496.7 million (NOK 497.4 mil-
lion), of which NOK 420.6 million relates to the
Oceans segment and NOK 76.1 million to Connec-
tivity. The goodwill in Oceans mainly originates
from the acquisitions of Innomar Technologie
GmbH and Ping Digital Signal Processing Inc,
while goodwill in Connectivity relates to the acqui-
sition of iData Kft.
Impairment testing was performed for all units con-
taining goodwill. The recoverable amount for each
cash-generating unit (CGU) is determined as the
higher of fair value less costs of disposal and value
in use. Fair value less costs of disposal are based
on market data for comparable companies.
Value in use is calculated using discounted cash-
flow models, where management has projected
cash flows over a multi-year forecast period
based on approved budgets and forecasts.
The following assumptions form the basis of the
calculations:
^
EBITDA and investments:
Reflect expected
revenue growth and profitability for existing
products and services. Investment levels are
aligned with the growth forecasts in the busi-
ness plan.
^
Terminal value:
Determined using a long-term
growth rate of 2.5 per cent, supported by mar-
ket expectations for the relevant industries
^
Discount rate:
The discount rate is based on
the weighted average cost of capital (WACC)
for each CGU and reflects adjustments for
country-specific and industry-specific risks.
In 2025, the pre-tax discount rates applied
ranged from 6.8 to 18.1 per cent (2024: 9.3-
14.8 per cent). The variation in discount rates
reflects that goodwill is primarily related to
operations in Germany and Hungary.
The estimated recoverable amounts significantly
exceed the carrying values for all cash-gener-
ating units. As a result, no impairment was rec-
ognised for goodwill, customer relationships or
trademarks as of 31 December 2025. Reasonably
possible changes in the discount rate or forecast
cash flows would not result in impairment, as the
recoverable amounts exceed the carrying values
by a significant margin.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00304": { "value": "Accounting policy \u2013 Impairment of non-financial assets
All non-financial assets (except deferred tax assets and inventories) are reviewed at each report-
ing date to identify any indications of impairment. When such indicators are present, the recovera-
ble amount of the asset or the cash-generating unit (CGU) to which it belongs is estimated. Intangible
assets with indefinite useful lives and those not yet available for use are tested for impairment annu-
ally, or more frequently if indicators arise.
An impairment loss is recognised when the carrying amount exceeds the recoverable amount, which
is the higher of fair value less costs of disposal and value in use. Value in use is determined by dis-
counting expected future cash flows using a pre-tax discount rate that reflects current market assess-
ments of the time value of money and asset-specific risks.
Impairment losses on goodwill are not reversed. For other assets, reversals are recognised only if
there has been a change in the estimates used and the asset\u2019s carrying amount does not exceed the
amount that would have been recognised had no impairment been recorded.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00305": { "value": "Accounting policy \u2013 Impairment of non-financial assets
All non-financial assets (except deferred tax assets and inventories) are reviewed at each report-
ing date to identify any indications of impairment. When such indicators are present, the recovera-
ble amount of the asset or the cash-generating unit (CGU) to which it belongs is estimated. Intangible
assets with indefinite useful lives and those not yet available for use are tested for impairment annu-
ally, or more frequently if indicators arise.
An impairment loss is recognised when the carrying amount exceeds the recoverable amount, which
is the higher of fair value less costs of disposal and value in use. Value in use is determined by dis-
counting expected future cash flows using a pre-tax discount rate that reflects current market assess-
ments of the time value of money and asset-specific risks.
Impairment losses on goodwill are not reversed. For other assets, reversals are recognised only if
there has been a change in the estimates used and the asset\u2019s carrying amount does not exceed the
amount that would have been recognised had no impairment been recorded.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00244": { "value": "Note 3.3
Property, plant and equipment
P
Accounting policy \u2013 Property, plant and equipment
Property, plant and equipment are measured at historical cost less accumulated depreciation and
impairment losses. Cost includes expenses directly attributable to the acquisition.
Subsequent costs are capitalised only when they are expected to generate future economic benefits;
ordinary repairs and maintenance are expensed as incurred. Gains and losses on disposals are recog-
nised in the income statement.
Depreciation is charged on a straight-line basis over estimated useful lives, considering residual val-
ues, and reviewed annually. Assets under construction are not depreciated until they are available for
use.
\u00a0 \u00a0
Machinery,
\u00a0
\u00a0
Land and
fixtures
\u00a0
Amounts in NOK million
properties
and fittings
Total
Cost at 1 January 2024
99.9
325.9
425.8
Accumulated depreciation
(38.0)
(222.4)
(260.4)
Translation differences
0.0
0.9
0.9
Net book amount at 1 January 2024
61.9
104.4
166.3
Additions from acquisition of companies
8.2
3.8
11.9
Additions
2.5
37.4
39.8
Depreciation charge
(5.7)
(31.6)
(37.2)
Translation differences
0.2
(0.1)
0.1
Net book amount at 31 December 2024
67.0
113.8
180.9
Cost at 1 January 2025
110.5
367.0
477.5
Accumulated depreciation
(43.6)
(254.0)
(297.6)
Translation differences
0.2
0.8
0.9
Net book amount at 1 January 2025
67.0
113.8
180.9
Additions from acquisition of companies
0.0
0.0
0.0
Additions
13.9
47.8
61.7
Depreciation charge
(5.3)
(37.0)
(42.3)
Translation differences
0.0
0.5
0.5
Net book amount at 31 December 2025
75.7
125.1
200.8
Useful life
25 years
3-7 years
\u00a0
Depreciation method
Linear
Linear
\u00a0
\nThere were no impairment losses or changes in the depreciation period in 2025 and 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00290": { "value": "Accounting policy \u2013 Property, plant and equipment
Property, plant and equipment are measured at historical cost less accumulated depreciation and
impairment losses. Cost includes expenses directly attributable to the acquisition.
Subsequent costs are capitalised only when they are expected to generate future economic benefits;
ordinary repairs and maintenance are expensed as incurred. Gains and losses on disposals are recog-
nised in the income statement.
Depreciation is charged on a straight-line basis over estimated useful lives, considering residual val-
ues, and reviewed annually. Assets under construction are not depreciated until they are available for
use. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00291": { "value": "Depreciation is charged on a straight-line basis over estimated useful lives, considering residual val-
ues, and reviewed annually. Assets under construction are not depreciated until they are available for
use. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00247": { "value": "Note 3.4
Right-of-use assets and leasing liabilities
P
Accounting policy \u2013 Right-of-use assets
The group recognises a right-of-use asset at the start of the lease. The asset is initially measured at
cost and subsequently at cost less accumulated depreciation and impairment losses, adjusted for any
remeasurements of the related lease liability.
The cost of the right-of-use asset includes the amount of the lease liability recognised, any initial
direct costs, and lease payments made at or before the start of the lease, less any lease incentives
received. The asset is depreciated on a straight-line basis over the shorter of the lease term and its
estimated useful life and is subject to impairment assessment consistent with other non-financial
assets.
P
Accounting policy \u2013 Lease liabilities
Lease liabilities are initially measured at the present value of future lease payments, discounted using
the interest rate implicit in the lease when this can be readily determined. When the implicit rate is not
readily available, the group applies its incremental borrowing rate.
The lease term includes non-cancellable periods and periods covered by extension options where the
group is reasonably certain to exercise such options.
Lease payments include fixed amounts and variable components linked to an index or a rate. Lease
liabilities are remeasured when relevant indices or rates change.
After initial recognition, the lease liability is increased by interest expense and reduced by lease pay-
ments made. It is remeasured if lease terms or expectations regarding extensions or terminations
change.
The group applies the recognition exemptions for short-term leases and leases of low-value assets.
Payments for such leases are recognised as an expense on a straight-line basis over the lease term.
Leases
The group\u2019s lease portfolio primarily consists of
machinery and equipment leases and property
leases. For machinery leases, the implicit interest
rate is typically available, while the incremental
borrowing rate is generally applied for property
leases. Variable lease payments are commonly
linked to market rates such as NIBOR for machin-
ery leases and CPI for property leases.
As of 31 December 2025, the group had 33 active
lease agreements (2024: 25) with a weighted
average remaining lease term of 70 months
(2024: 75).
\u00a0 \u00a0
Mahinery and
\u00a0
Amounts in NOK million
Buildings
vehicles
Total
Balance at 31 December 2023
22.2
32.0
54.2
Additions
9.5
51.5
61.0
Depreciation expense
(12.2)
(9.9)
(22.0)
Balance at 31 December 2024
19.5
73.6
93.1
Balance at 31 December 2024
19.5
73.6
93.1
Additions
68.3
59.1
127.4
Depreciation expense
(14.1)
(17.0)
(31.2)
Balance at 31 December 2025
73.7
115.7
189.4
\n
Leasing liabilities
Amounts in NOK million
2025
2024
Balance at 1 January
95.3
54.7
Additions
127.4
61.0
Accrued interest expense
6.9
4.5
Lease payments
(35.6)
(24.8)
Balance at 31 December
194.1
95.3
Current lease liabilities
39.0
20.9
Non-current lease liabilities
155.1
74.4
Total
194.1
95.3
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00337": { "value": "Accounting policy \u2013 Right-of-use assets
The group recognises a right-of-use asset at the start of the lease. The asset is initially measured at
cost and subsequently at cost less accumulated depreciation and impairment losses, adjusted for any
remeasurements of the related lease liability.
The cost of the right-of-use asset includes the amount of the lease liability recognised, any initial
direct costs, and lease payments made at or before the start of the lease, less any lease incentives
received. The asset is depreciated on a straight-line basis over the shorter of the lease term and its
estimated useful life and is subject to impairment assessment consistent with other non-financial
assets.Accounting policy \u2013 Lease liabilities
Lease liabilities are initially measured at the present value of future lease payments, discounted using
the interest rate implicit in the lease when this can be readily determined. When the implicit rate is not
readily available, the group applies its incremental borrowing rate.
The lease term includes non-cancellable periods and periods covered by extension options where the
group is reasonably certain to exercise such options.
Lease payments include fixed amounts and variable components linked to an index or a rate. Lease
liabilities are remeasured when relevant indices or rates change.
After initial recognition, the lease liability is increased by interest expense and reduced by lease pay-
ments made. It is remeasured if lease terms or expectations regarding extensions or terminations
change.
The group applies the recognition exemptions for short-term leases and leases of low-value assets.
Payments for such leases are recognised as an expense on a straight-line basis over the lease term.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00251": { "value": "Note 3.5
Inventories
P
Accounting policy \u2013 Inventories
Inventories are measured at the lower of cost and net realisable value. Cost includes the cost of mate-
rials, direct labour and an appropriate proportion of production overheads.
Cost is determined using the first-in, first-out (FIFO) method or the weighted average cost formula,
depending on the nature of the inventory and the entity.
Net realisable value represents the estimated selling price in the ordinary course of business, less
estimated costs of completion and selling expenses, and reflects deductions for obsolescence and
slow-moving items. Such reductions are reversed when the underlying circumstances no longer exist.
E
Estimate uncertainty \u2013 Provision for obsolete inventory
The valuation of inventory involves management judgement when assessing potential obsolescence,
including assumptions about customer activity and future demand. These estimates directly affect the
carrying amount of inventory and may change if market conditions or customer behaviour differ from
expectations
The group\u2019s inventories mainly comprise raw
materials, components and finished goods used
in the production of electronic equipment across
its business segments, with the majority linked to
active product ranges. A significant portion of the
inventories is related to contract manufacturing
services in the PIR segment, where inventories
largely consist of customer-specific components.
For certain customers, the group has agreements
for advance payments and/or requirements for
the repurchase of surplus inventory, including
components which are obsolete due to changes
in design, amended production requirements or
terminations. These arrangements help mitigate
the risk of inventory obsolescence. Advance pay-
ments are presented as current liabilities in the
balance sheet rather than as a reduction of inven-
tory.
Amounts in NOK million
2025
2024
Current assets
\u00a0 \u00a0
Raw materials and stores
612.3
334.4
Work in progress
67.1
39.6
Finished goods
52.3
60.8
Book value
731.7
434.7
Inventory
748.5
451.4
Obsolescence
raw materials
(16.3)
(14.6)
Obsolescence
finished goods
(0.5)
(2.1)
Book value
731.7
434.7
Amounts in NOK million
2025
2024
Specification of raw materials and consumables used
\u00a0 \u00a0
Purchase of goods
1\u00a0383.2
563.4
Freight, customs etc.
23.7
7.3
Change of inventories
(296.9)
133.9
Total
1\u00a0110.0
704.6
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00295": { "value": "Accounting policy \u2013 Inventories
Inventories are measured at the lower of cost and net realisable value. Cost includes the cost of mate-
rials, direct labour and an appropriate proportion of production overheads.
Cost is determined using the first-in, first-out (FIFO) method or the weighted average cost formula,
depending on the nature of the inventory and the entity.
Net realisable value represents the estimated selling price in the ordinary course of business, less
estimated costs of completion and selling expenses, and reflects deductions for obsolescence and
slow-moving items. Such reductions are reversed when the underlying circumstances no longer exist. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00252": { "value": "Note 3.6
Financial assets and financial liabilities
The table below presents the group\u2019s financial assets and liabilities by measurement category.
Financial assets
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
2025
2024
Financial assets at fair value
\u00a0 \u00a0
Cellula Robotics Ltd
11.0
11.0
Other shares
1.1
1.1
Total shares in other companies (through OCI)
12.1
12.1
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
2025
2024
Financial assets at amortised cost
\u00a0 \u00a0
Trade receivables
221.3
273.4
Cash and cash equivalents
158.9
193.3
Total
380.2
466.7
\n
Financial liabilities
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
2025
2024
Liabilities at amortised cost
\u00a0 \u00a0
Trade payables
231.4
145.9
Interest-bearing borrowings
523.4
447.2
Lease liabilities
194.1
95.3
Other payables
151.1
127.2
Total
1\u00a0100.0
815.7
\n
Accounting policies for financial instruments are
described in the relevant sub-notes 3.7-3.9. The
credit risk associated with the group\u2019s financial
assets is further described in
note 4.1
, including
an overview of exposures and the approach to
risk management across different asset classes.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00253": { "value": "Note 3.7
Trade receivables
P
Accounting policy \u2013 Trade receivables
Trade receivables represent amounts owed by customers for goods delivered and services rendered
as part of the group\u2019s normal operations. They are generally due within 30 to 60 days and are clas-
sified as current assets. Receivables are measured at amortised cost, less any expected credit loss
allowance. Receivables denominated in foreign currencies are translated at the exchange rates at the
balance sheet date, with exchange differences recognised in profit or loss.
Expected credit losses are recognised from initial recognition using the simplified approach. Losses
are estimated based on both collective and individual assessments, considering customer-specific
credit risk characteristics, overdue balances and, where relevant, alternative outcome scenarios. The
assessment is carried out by senior staff in the group\u2019s finance department in close dialogue with
management in the operating segments.
E
Estimate uncertainty \u2013 Loss allowance for trade receivables
The group is exposed to credit risk through a diversified and largely international customer base.
Expected credit losses are estimated by assessing individual customers\u2019 payment history, current
financial position and relevant forward-looking factors that may affect their ability to pay. The estimate
involves management judgement, particularly for larger and individually assessed customer expo-
sures where the outcome of collection processes may be uncertain. Changes in customer credit qual-
ity or specific collection cases may result in variability in the allowance between reporting periods.
Amounts in NOK million
2025
2024
Current assets
\u00a0 \u00a0
Trade receivables
229.2
279.1
Loss allowance
(7.8)
(5.7)
Total
221.3
273.4
\n
Aging of trade receivables
Amounts in NOK million
2025
2024
Not due
134.8
158.7
1-30 days past due date
34.2
65.2
31-60 days past due date
9.6
14.1
60+ days past due date
50.6
41.1
Total
229.2
279.1
\n
Total provisions at year-end 2025 amounted to NOK 7.8 million, representing 3.4 per cent of the par value
of accounts receivable.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00300": { "value": "Accounting policy \u2013 Trade receivables
Trade receivables represent amounts owed by customers for goods delivered and services rendered
as part of the group\u2019s normal operations. They are generally due within 30 to 60 days and are clas-
sified as current assets. Receivables are measured at amortised cost, less any expected credit loss
allowance. Receivables denominated in foreign currencies are translated at the exchange rates at the
balance sheet date, with exchange differences recognised in profit or loss.
Expected credit losses are recognised from initial recognition using the simplified approach. Losses
are estimated based on both collective and individual assessments, considering customer-specific
credit risk characteristics, overdue balances and, where relevant, alternative outcome scenarios. The
assessment is carried out by senior staff in the group\u2019s finance department in close dialogue with
management in the operating segments.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00226": { "value": "Estimate uncertainty \u2013 Loss allowance for trade receivables
The group is exposed to credit risk through a diversified and largely international customer base.
Expected credit losses are estimated by assessing individual customers\u2019 payment history, current
financial position and relevant forward-looking factors that may affect their ability to pay. The estimate
involves management judgement, particularly for larger and individually assessed customer expo-
sures where the outcome of collection processes may be uncertain. Changes in customer credit qual-
ity or specific collection cases may result in variability in the allowance between reporting periods.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00254": { "value": "Note 3.8
Cash and cash equivalents
P
Accounting policy \u2013 Cash and cash equivalents
Cash and cash equivalents consist of bank deposits available on demand, including balances in for-
eign currencies that are not part of the group\u2019s short-term multi-currency overdraft facility.
At 31 December 2025, the group\u2019s restricted cash
amounted to NOK 14.0 million (2024: NOK 11.2
million), mainly related to statutory tax withhold-
ing accounts that are legally restricted for pay-
ment of payroll taxes.
Amounts in NOK million
2025
2024
Bank deposits available on demand
144.9
182.1
Bank deposits restricted to tax payments
14.0
11.2
Total
158.9
193.3
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00301": { "value": "Accounting policy \u2013 Cash and cash equivalents
Cash and cash equivalents consist of bank deposits available on demand, including balances in for-
eign currencies that are not part of the group\u2019s short-term multi-currency overdraft facility.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00255": { "value": "At 31 December 2025, the group\u2019s restricted cash
amounted to NOK 14.0 million (2024: NOK 11.2
million), mainly related to statutory tax withhold-
ing accounts that are legally restricted for pay-
ment of payroll taxes.", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00256": { "value": "Note 3.9
Interest-bearing borrowings
P
Accounting policy \u2013 Interest-bearing borrowings
Interest-bearing borrowings are initially recognised at fair value, net of transaction costs. After initial
recognition, borrowings are measured at amortised cost. Interest expense is recognised over the loan
period using the interest rate that reflects the group\u2019s actual borrowing cost.
Borrowings and credit facilities
At the end of 2025, the group had three main
loan facilities: a long-term revolving credit facil-
ity (RCF), a short-term overdraft facility and a term
loan. Credit limits were NOK 200 million for the
RCF, NOK 500 million for the overdraft facility
and EUR 38 million for the term loan.
NORBIT had drawn NOK 74.0 million on the over-
draft facility as of December 31 2025, while the
RCF were undrawn. EUR 38 million was outstand-
ing on the term loan. All facilities carry floating
interest rates based on market terms. The term
loan matures in July 2027, while the RCF, follow-
ing amendments agreed with the main lender sub-
sequent to the balance sheet date, matures June
2028. The company has an option to extend the
maturity of the RCF by another 24 months. The
overdraft facility is renewed annually.
There are no scheduled repayments on the term
loan as long as the NIBD/EBITDA ratio remains
below 2.0 times.
For details about covenants, capital structure and
financial management, see
note 4.2
Capital man-
agement.
\u00a0
2025
Amounts in NOK million
Current
Non-current
Total
Overdraft facility
74.0
0.0
74.0
Term loan
0.0
450.0
450.0
Capitalised loan fees
0.0
(0.6)
(0.6)
Total interest-bearing borrowings
74.0
449.4
523.4
\u00a0
2024
Amounts in NOK million
Current
Non-current
Total
Overdraft facility
0.0
0.0
0.0
Term loan
0.0
448.2
448.2
Capitalised loan fees
0.0
(1.0)
(1.0)
Total interest-bearing borrowings
0.0
447.2
447.2
\n
Secured interest-bearing borrowings
Amounts in NOK million
2025
2024
Long term debt
449.4
447.2
Short term debt
74.0
0.0
Total secured borrowings
523.4
447.2
\n
The carrying amounts of assets pledged as security for current and non-current borrowings are:
Amounts in NOK million
2025
2024
Current
\u00a0\u00a0
Receivables
114.5
162.1
Inventories
701.9
409.4
Total current assets pledged as security
816.4
571.5
Non-current
\u00a0\u00a0
Property, plant and equipment
158.9
141.2
Total non-current assets pledged as security
158.9
141.2
Total assets pledged as security
975.4
712.6
\n
Reconcilliation of liabilities from financing activities:
Amounts in NOK million
2025
2024
Opening balance
447.2
211.4
Cash flow
\u00a0\u00a0
Proceeds from borrowings
0.0
446.1
Repayment of borrowings
0.0
(191.6)
Net change in overdraft
74.0
(20.0)
Non-cash changes
\u00a0\u00a0
Foreign exchange differences
1.8
0.9
Amortisation of loan fees
0.4
0.4
Closing balance
523.4
447.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00303": { "value": "Accounting policy \u2013 Interest-bearing borrowings
Interest-bearing borrowings are initially recognised at fair value, net of transaction costs. After initial
recognition, borrowings are measured at amortised cost. Interest expense is recognised over the loan
period using the interest rate that reflects the group\u2019s actual borrowing cost.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00257": { "value": "Note 3.10
Other current liabilities
P
Accounting policy \u2013 Trade and other payables
Trade and other payables are recognised initially at fair value and subsequently measured at
amortised cost using the effective interest method.
Other current liabilities, including accrued expenses and similar short-term obligations, are measured
at amortised cost or at the expected amount of settlement when the effect of discounting is
immaterial.
P
Accounting policy \u2013 Provisions
Provisions are recognised when the group has a present obligation as a result of a past event, and it
is probable that the obligation will require settlement and can be reliably estimated. Provisions are
measured at the expected cost of fulfilling the obligation.
Warranty provisions cover expected future costs related to products and services already delivered.
The estimates are based on historical warranty experience and management\u2019s assessment of future
claims.
Other current liabilities include warranty pro-
visions, accrued expenses, employee-related
payables, public duties payable and other short-
term obligations. These items are measured as
described in
note 3.6
Financial assets and liabil-
ities.
Amounts in NOK million
2025
2024
Payroll tax and other statutory liabilities
84.6
38.7
Holiday pay accrual
32.5
27.5
Prepayments from customers
1)
84.4
54.9
Warranty provisions
4.3
6.3
Other payables and accruals
118.5
99.7
Total
324.4
227.1
\n
1)
A signi\ufb01cant portion of contract liabilities at the beginning of the period has been recognised as revenue during the
year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00302": { "value": "Accounting policy \u2013 Trade and other payables
Trade and other payables are recognised initially at fair value and subsequently measured at
amortised cost using the effective interest method.
Other current liabilities, including accrued expenses and similar short-term obligations, are measured
at amortised cost or at the expected amount of settlement when the effect of discounting is
immaterial.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00336": { "value": "Accounting policy \u2013 Provisions
Provisions are recognised when the group has a present obligation as a result of a past event, and it
is probable that the obligation will require settlement and can be reliably estimated. Provisions are
measured at the expected cost of fulfilling the obligation.
Warranty provisions cover expected future costs related to products and services already delivered.
The estimates are based on historical warranty experience and management\u2019s assessment of future
claims. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00229": { "value": "Note 4.1
Financial risk and exposure
Financial risk management
The group is exposed to various types of finan-
cial risk related to financial instruments, including
credit risk, liquidity risk and market risk (interest
rate risk and currency risk). The group\u2019s finance
function is responsible for managing and monitor-
ing financial risks in accordance with policies and
guidelines approved by the Board of Directors.
Credit risk
Credit risk is the risk that a counterparty to a
financial instrument may cause a financial loss by
failing to discharge its obligations. The group\u2019s
exposure to credit risk relates mainly to trade
receivables, cash deposits and other short-term
receivables.
Cash deposits are placed with reputable banks
with strong credit ratings. Credit risk related
to trade receivables is monitored continuously
within each business unit.
For accounting policies and measurement of
expected credit losses on trade receivables and
other financial assets, see notes 3.6 and 3.7.
Liquidity risk
Liquidity risk is the risk that the group is unable to
meet the obligations associated with its financial
liabilities. For NORBIT, liquidity risk is managed
by maintaining sufficient cash deposits and avail-
able committed credit lines that the group can
draw on to meet its obligations as they occur.
NORBIT has a centrally managed multi-currency
cash pool arrangement where several subsidi-
aries are connected. The liquidity trend is mon-
itored frequently, supported by budgets and
forecasts.
As of 31 December 2025, the group\u2019s total liquid-
ity buffer amounted to NOK 785.0 million, com-
prising cash and undrawn credit facilities.
Contractual maturities of financial liabilities at 31 December 2025
\u00a0
Less than
Between
Over
Total contractual
Carrying amount
Amounts in NOK million
1 year
1 year and 5 years
5 years
cash flows
(assets) / liabilities
At 31 December 2025
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Trade payables
231.4
0.0
0.0
231.4
231.4
Interest-bearing borrowings
90.2
468.3
0.0
558.5
523.4
Lease liabilities
39.0
117.8
37.3
194.1
194.1
Other payables
151.1
0.0
0.0
151.1
151.1
Total
511.7
586.1
37.3
1 135.1
1 100.0
\n
Contractual maturities of financial liabilities at 31 December 2024
\u00a0
Less than
Between
Over
Total contractual
Carrying amount
Amounts in NOK million
1 year
1 year and 5 years
5 years
cash flows
(assets) / liabilities
At 31 December 2024
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Trade payables
145.9
0.0
0.0
145.9
145.9
Interest-bearing borrowings
20.5
478.8
0.0
499.3
447.2
Lease liabilities
20.9
70.7
3.8
95.3
95.3
Other payables
127.2
0.0
0.0
127.2
127.2
Total
314.6
549.5
3.8
867.8
815.7
Interest rate risk
The group\u2019s main exposure to interest rate risk
arises from long-term borrowings with variable
interest rates, which may lead to fluctuations in
cash flows. NORBIT does not use financial instru-
ments to hedge interest rate risk.
Trade and other receivables, as well as trade
and other payables, are non-interest bearing
and have maturities of less than one year. These
financial assets and liabilities therefore carry no
significant interest rate risk.
The table below shows the group\u2019s sensitivity to
reasonably possible changes in interest rates,
based on all interest-bearing financial instru-
ments outstanding at the balance sheet date.
Interest rate exposure
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Impact on pre-
Impact on pre-
Amounts in NOK million
tax profit 2025
tax profit 2024
Interest rates - increase by 100 basis points
1)
(5.2)
(4.5)
Interest rates - decrease by 100 basis points
1)
5.2
4.5
\n
1) Ceteris paribus
Currency risk
NORBIT has international operations and custom-
ers and is exposed to currency risk through sales
and purchases in currencies other than the func-
tional currency. The group\u2019s primary exposures
are to EUR and USD.
The group has a short-term multi-currency over-
draft facility (EUR, USD, GBP and NOK), which is
presented net in the consolidated financial state-
ments. On 31 December 2025, the combined bal-
ance for USD, EUR and GBP under this facility
represented NOK 87.5 million in net cash.
A significant part of the group\u2019s revenues is
denominated in EUR and USD, while a substantial
portion of costs is incurred in USD, EUR and NOK.
The group is typically a net seller of EUR and a
net buyer of USD. To manage currency risk, the
group monitors and rebalances its short-term cur-
rency positions on a monthly basis to maintain a
neutral exposure across trade receivables, trade
payables and cash deposits.
The group\u2019s exposure to foreign currency risk,
expressed in NOK million, at the end of the
reporting period is presented in the tables below.
Foreign exchange exposure:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
31.12.2025
31.12.2024
Receivables
155.1
133.5
Payables
(183.6)
(93.4)
Overdraft facility
87.5
20.5
Bank deposits
3.4
0.0
Net position
62.3
60.6
\n
Financial assets and liabilities \u2013 net foreign exchange exposure by major currencies:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
31.12.2025
31.12.2024
\u00a0
Currency
NOK
Currency
NOK
USD
(2.7)
(30.7)
(1.3)
(15.2)
EUR
8.6
101.2
6.4
75.9
GBP
0.1
1.6
0.4
5.8
HUF
(58.5)
(1.7)
(51.5)
(1.5)
SEK
(0.2)
(0.2)
(1.5)
(1.6)
JPY
(39.1)
(4.8)
(39.1)
(2.8)
CAD
(0.4)
(3.1)
0.0
0.0
Net position
\u00a0
62.3
\u00a0
60.6
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00231": { "value": "Credit risk
Credit risk is the risk that a counterparty to a
financial instrument may cause a financial loss by
failing to discharge its obligations. The group\u2019s
exposure to credit risk relates mainly to trade
receivables, cash deposits and other short-term
receivables.
Cash deposits are placed with reputable banks
with strong credit ratings. Credit risk related
to trade receivables is monitored continuously
within each business unit.
For accounting policies and measurement of
expected credit losses on trade receivables and
other financial assets, see notes 3.6 and 3.7.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00232": { "value": "Liquidity risk
Liquidity risk is the risk that the group is unable to
meet the obligations associated with its financial
liabilities. For NORBIT, liquidity risk is managed
by maintaining sufficient cash deposits and avail-
able committed credit lines that the group can
draw on to meet its obligations as they occur.
NORBIT has a centrally managed multi-currency
cash pool arrangement where several subsidi-
aries are connected. The liquidity trend is mon-
itored frequently, supported by budgets and
forecasts.
As of 31 December 2025, the group\u2019s total liquid-
ity buffer amounted to NOK 785.0 million, com-
prising cash and undrawn credit facilities.
Contractual maturities of financial liabilities at 31 December 2025
\u00a0
Less than
Between
Over
Total contractual
Carrying amount
Amounts in NOK million
1 year
1 year and 5 years
5 years
cash flows
(assets) / liabilities
At 31 December 2025
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Trade payables
231.4
0.0
0.0
231.4
231.4
Interest-bearing borrowings
90.2
468.3
0.0
558.5
523.4
Lease liabilities
39.0
117.8
37.3
194.1
194.1
Other payables
151.1
0.0
0.0
151.1
151.1
Total
511.7
586.1
37.3
1 135.1
1 100.0
\n
Contractual maturities of financial liabilities at 31 December 2024
\u00a0
Less than
Between
Over
Total contractual
Carrying amount
Amounts in NOK million
1 year
1 year and 5 years
5 years
cash flows
(assets) / liabilities
At 31 December 2024
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Trade payables
145.9
0.0
0.0
145.9
145.9
Interest-bearing borrowings
20.5
478.8
0.0
499.3
447.2
Lease liabilities
20.9
70.7
3.8
95.3
95.3
Other payables
127.2
0.0
0.0
127.2
127.2
Total
314.6
549.5
3.8
867.8
815.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00217": { "value": "2025-12-31", "dimensions": { "concept": "ifrs-full:DateOfEndOfReportingPeriod2013", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00230": { "value": "Currency risk
NORBIT has international operations and custom-
ers and is exposed to currency risk through sales
and purchases in currencies other than the func-
tional currency. The group\u2019s primary exposures
are to EUR and USD.
The group has a short-term multi-currency over-
draft facility (EUR, USD, GBP and NOK), which is
presented net in the consolidated financial state-
ments. On 31 December 2025, the combined bal-
ance for USD, EUR and GBP under this facility
represented NOK 87.5 million in net cash.
A significant part of the group\u2019s revenues is
denominated in EUR and USD, while a substantial
portion of costs is incurred in USD, EUR and NOK.
The group is typically a net seller of EUR and a
net buyer of USD. To manage currency risk, the
group monitors and rebalances its short-term cur-
rency positions on a monthly basis to maintain a
neutral exposure across trade receivables, trade
payables and cash deposits.
The group\u2019s exposure to foreign currency risk,
expressed in NOK million, at the end of the
reporting period is presented in the tables below.
Foreign exchange exposure:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
31.12.2025
31.12.2024
Receivables
155.1
133.5
Payables
(183.6)
(93.4)
Overdraft facility
87.5
20.5
Bank deposits
3.4
0.0
Net position
62.3
60.6
\n
Financial assets and liabilities \u2013 net foreign exchange exposure by major currencies:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
31.12.2025
31.12.2024
\u00a0
Currency
NOK
Currency
NOK
USD
(2.7)
(30.7)
(1.3)
(15.2)
EUR
8.6
101.2
6.4
75.9
GBP
0.1
1.6
0.4
5.8
HUF
(58.5)
(1.7)
(51.5)
(1.5)
SEK
(0.2)
(0.2)
(1.5)
(1.6)
JPY
(39.1)
(4.8)
(39.1)
(2.8)
CAD
(0.4)
(3.1)
0.0
0.0
Net position
\u00a0
62.3
\u00a0
60.6
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00258": { "value": "Note 4.2
Capital management
Capital allocation
NORBIT\u2019s capital allocation framework and strat-
egy are defined by the board of directors. The
group\u2019s capital priorities are designed to ensure
continued profitable growth while maintaining a
robust financial position:
1.
Maintain a solid balance sheet
2.
Invest in organic growth
3.
Pursue strategic acquisitions to accelerate
growth
4.
Provide shareholder distributions
The group\u2019s objectives when managing its capital
structure and liquidity position are to:
^
Safeguard its ability to continue as a going
concern and create long-term value for share-
holders and other stakeholders
^
Maintain financial robustness and an optimised
capital structure to reduce the cost of capital
^
Provide financial flexibility
^
Ensure sufficient headroom to loan covenants
To optimise the capital structure, the group may
adjust dividend payments, issue new shares,
return capital to shareholders, reduce invest-
ments or sell assets to reduce debt.
Covenants and leverage
The group monitors compliance with covenants
using the following key leverage ratios:
^
Equity ratio: total equity as a percentage of
total assets
^
Net interest-bearing debt (NIBD), including
lease liabilities, to EBITDA (\u201cNIBD ratio\u201d)
NORBIT\u2019s target is to maintain a NIBD ratio in the
range of 1.0\u20132.5 times to ensure a solid balance
sheet.
Under the terms of its main borrowing facilities, the
group must comply with these financial covenants:
^
Equity ratio:
Minimum 30 per cent, reported
semi-annually (30 June and 31 December))
^
NIBD ratio:
Maximum 4.0 times, reported
quarterly. EBITDA is calculated on a 12-month
rolling basis and adjusted for transaction costs
and contributions from acquisitions.
Loan covenants
Amounts in NOK million
2025
2024
Equity ratios 31 December
\u00a0 \u00a0
Total equity
1\u00a0211.5
1\u00a0157.3
Total assets
2 622.8
2 184.2
Equity ratio
46%
53%
NIBD ratios 31 December
\u00a0 \u00a0
Interest bearing borrowings
523.4
447.2
Lease liabilities
194.1
95.3
Cash and cash equivalents
(158.9)
(193.3)
NIBD
558.6
349.3
Reported EBITDA
712.2
474.0
Adjustments for acquisitions and other items
0.0
50.0
Adjusted EBIDA
712.2
524.0
NIBD to EBITDA ratio
0.78
0.67
\n
The group complied with all covenants throughout 2025 and 2024.
P
Accounting policy \u2013 Dividends
Dividends are recorded in the group\u2019s consolidated financial statements in the period in which they
are approved by the general meeting.
Dividend policy
NORBIT ASA\u2019s objective is to provide sharehold-
ers with a longterm competitive return through an
increase in the share price and payment of divi-
dends. The dividend policy is to pay out annual
dividends in excess of 30 per cent of the compa-
ny\u2019s net profit after tax, with the intention to pay
out potential excess capital. When proposing
the dividend payment, the board of directors will
take into account the company\u2019s financial posi-
tion, investment plans, any restrictions by law, as
well as the needed financial flexibility to provide
for sustainable growth. To that end, the company
has set long-term financial targets relating to its
capital structure to have a NIBD/EBITDA ratio
between 1.0 \u20132.5x.
The board of directors has proposed that NOK
5.00 per share is paid as dividend for the finan-
cial year 2025, or NOK 319.5 million, representing
79 per cent of net profit after tax.
For the financial year 2024, NORBIT paid NOK
6.00 per share in dividends (NOK 382.3 mil-
lion), exceeding the group\u2019s dividend policy. This
includes an extraordinary dividend reflecting the
group\u2019s strong financial position and distribution
of excess capital. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00342": { "value": "Accounting policy \u2013 Dividends
Dividends are recorded in the group\u2019s consolidated financial statements in the period in which they
are approved by the general meeting.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00262": { "value": "Note 4.3
Share capital and shareholder information
The share capital in NORBIT ASA at 31 December
2025 consists of one share class with a total of
63\u00a0948 695 shares with a face value of NOK 0.10
with a total share capital of NOK 6 394 869.50.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Number of shares
2025
2024
Ordinary shares
\u00a0 \u00a0
Fully paid
63\u00a0948 695
63\u00a0750 027
Total number of shares
63\u00a0948 695
63\u00a0750 027
\n
Movement in ordinary shares
In 2025 and based on the authorisations granted
at the Annual General Meeting in May 2025, the
board of directors resolved to increase the com-
pany\u2019s share capital in connection with the follow-
ing events, each with a par value of NOK 0.10:
^
The exercise of restricted stock units by exec-
utive management through the issuance of
198\u00a0668 new shares.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0 \u00a0 \u00a0
Share
\u00a0
\u00a0 \u00a0 \u00a0
premium and
\u00a0
\u00a0
Number of
Share
other paid-in
\u00a0
Amounts in NOK million
shares
capital
capital
Total
Balance at 1 January 2024
60\u00a0017 415
6.0
367.7
373.8
Ordinary issue
3\u00a0732 612
0.4
277.8
278.1
Balance at 31 December 2024
63\u00a0750 027
6.4
645.5
651.9
Ordinary issue
198\u00a0668
0.0
15.7
15.8
Balance at 31 December 2025
63\u00a0948 695
6.4
661.2
667.7
\n
Movement in Treasury shares
At the Annual General Meeting in 2025, the
board of directors was granted the authorisation
to acquire treasury shares by up to 10 per cent
of the share capital on behalf of the company. In
connection with the exercise of restricted stock
units and share issues to the executive manage-
ment team, NORBIT ASA acquired 57\u00a0460 shares
from members of the executive management
team.
Per 31 December 2025, the company held
56\u00a0173 treasury shares. In 2025, a total of 122 049
shares were sold primarily to employees under
the share incentive programmes.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Number of shares
2025
2024
Treasury shares
\u00a0\u00a0
Balance at 1 January
120\u00a0762
43\u00a0560
Purchased
57\u00a0460
77\u00a0202
Sold
(122\u00a0049)
0.0
Balance at 31 December
56\u00a0173
120\u00a0762
\n
Movements in retained earnings
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
2025
2024
Balance at 1 January
505.5
419.7
Net profit for the period
404.3
243.3
Other comprehensive income
3.7
0.4
Treasury shares
12.7
(5.0)
Dividends
(382.3)
(152.9)
Balance at 31 December
543.9
505.5
\n
\n
\n\n
\n
\n
\n\n
\n
\n
Shareholder structure at 31 December 2025
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Total number of shares as per the Articles of Association
63\u00a0948 695
Less: Treasury shares
56\u00a0173
Outstanding shares
63\u00a0892 522
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Shareholder
Shares
Pecentage
PETORS AS
(100% owned by CEO Per J\u00f8rgen Weisethaunet
1)
6 976 944.0
10.9%
VHF Invest AS
6 164 495
9.6%
REKAP 2A AS
6 086 781
9.5%
Folketrygdfondet
2 873 717
4.5%
AWC AS
2 397 472
3.8%
J.P. Morgan SE
2 104 523
3.3%
EIDCO AS
2 000 000
3.1%
ESMAR AS
1 412 286
2.2%
The Bank of New York Mellon SA/NV
1 375 000
2.2%
Verdipapirfondet DNB SMB
1 330 740
2.1%
UBS Switzerland AG
983 045
1.5%
Danske Bank A/S
2)
909 000
1.4%
Deutsche Bank Aktiengesellschaft
726 272
1.1%
VPF Fondsfinans Utbytte
700 000
1.1%
State Street Bank and Trust Comp
589 300
0.9%
J.P. Morgan SE
520 000
0.8%
Verdipapirfondet KLP Aksjenorge IN
503 211
0.8%
VPF Fondsfinans Norden
467 500
0.7%
State Street Bank and Trust Comp
457 693
0.7%
Songa Capital AS
446 000
0.7%
Total 20 largest
39 023 979
61.1%
Other
24 868 543
38.9%
Total outstanding shares
63 892 522
100.0%
\n
1) 100 per cent owned by CEO Per J\u00f8rgen Weisethaunet.
2) Of which 870 650 shares controlled by BUD Peter K. Eriksen.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00263": { "value": "Note 4.3
Share capital and shareholder information
The share capital in NORBIT ASA at 31 December
2025 consists of one share class with a total of
63\u00a0948 695 shares with a face value of NOK 0.10
with a total share capital of NOK 6 394 869.50.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Number of shares
2025
2024
Ordinary shares
\u00a0 \u00a0
Fully paid
63\u00a0948 695
63\u00a0750 027
Total number of shares
63\u00a0948 695
63\u00a0750 027
\n
Movement in ordinary shares
In 2025 and based on the authorisations granted
at the Annual General Meeting in May 2025, the
board of directors resolved to increase the com-
pany\u2019s share capital in connection with the follow-
ing events, each with a par value of NOK 0.10:
^
The exercise of restricted stock units by exec-
utive management through the issuance of
198\u00a0668 new shares.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0 \u00a0 \u00a0
Share
\u00a0
\u00a0 \u00a0 \u00a0
premium and
\u00a0
\u00a0
Number of
Share
other paid-in
\u00a0
Amounts in NOK million
shares
capital
capital
Total
Balance at 1 January 2024
60\u00a0017 415
6.0
367.7
373.8
Ordinary issue
3\u00a0732 612
0.4
277.8
278.1
Balance at 31 December 2024
63\u00a0750 027
6.4
645.5
651.9
Ordinary issue
198\u00a0668
0.0
15.7
15.8
Balance at 31 December 2025
63\u00a0948 695
6.4
661.2
667.7
\n
Movement in Treasury shares
At the Annual General Meeting in 2025, the
board of directors was granted the authorisation
to acquire treasury shares by up to 10 per cent
of the share capital on behalf of the company. In
connection with the exercise of restricted stock
units and share issues to the executive manage-
ment team, NORBIT ASA acquired 57\u00a0460 shares
from members of the executive management
team.
Per 31 December 2025, the company held
56\u00a0173 treasury shares. In 2025, a total of 122 049
shares were sold primarily to employees under
the share incentive programmes.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Number of shares
2025
2024
Treasury shares
\u00a0\u00a0
Balance at 1 January
120\u00a0762
43\u00a0560
Purchased
57\u00a0460
77\u00a0202
Sold
(122\u00a0049)
0.0
Balance at 31 December
56\u00a0173
120\u00a0762
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00264": { "value": "Movement in Treasury shares
At the Annual General Meeting in 2025, the
board of directors was granted the authorisation
to acquire treasury shares by up to 10 per cent
of the share capital on behalf of the company. In
connection with the exercise of restricted stock
units and share issues to the executive manage-
ment team, NORBIT ASA acquired 57\u00a0460 shares
from members of the executive management
team.
Per 31 December 2025, the company held
56\u00a0173 treasury shares. In 2025, a total of 122 049
shares were sold primarily to employees under
the share incentive programmes.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Number of shares
2025
2024
Treasury shares
\u00a0\u00a0
Balance at 1 January
120\u00a0762
43\u00a0560
Purchased
57\u00a0460
77\u00a0202
Sold
(122\u00a0049)
0.0
Balance at 31 December
56\u00a0173
120\u00a0762
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00243": { "value": "Note 4.4
Earnings per share
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK
2025
2024
Basic earnings per share
\u00a0 \u00a0
Total basic earnings per share attributable to the ordinary equity
\u00a0 \u00a0
holders of the company
6.34
3.94
Diluted earnings per share
\u00a0 \u00a0
Total diluted earnings per share attributable to the ordinary
\u00a0 \u00a0
equity holders of the company
6.32
3.93
\n
Reconciliations of earnings used in calculating earnings per share
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in NOK million
2025
2024
Profit from continuing operations attributable to the ordinary
\u00a0 \u00a0
equity holders of the company:
\u00a0 \u00a0
Used in calculation basic earnings per share
404.3
243.3
Used in calculating diluted earnings per share
404.3
243.3
\n
Weighted average number of shares used as the denominator
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Number
2025
2024
Weighted average number outstanding
63\u00a0747 050
61\u00a0679 531
Weighted average number diluted
63\u00a0924 394
61\u00a0863 157
\n
Basic earnings per share
Basic earnings per share amounts are calculated
by dividing net profit for the period attributable to
ordinary equity holders of the parent company by
the weighted average number of ordinary shares
outstanding during the period.
Diluted earnings per share
Diluted earnings per share are calculated by
adjusting the weighted average number of ordi-
nary shares outstanding for the effects of all dilu-
tive potential ordinary shares.", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00259": { "value": "Note 4.5
Business combinations
P
Accounting policy \u2013 Business combinations
Business combinations are accounted for using the acquisition method as of the acquisition date,
which is the date when control is transferred to the group. The consideration transferred is meas-
ured at the fair value of the assets transferred, equity instruments issued and liabilities assumed at
the acquisition date. The cost of acquisition includes the fair value of any contingent consideration
arrangements.
Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combina-
tion are measured initially at their fair values at the acquisition date. The costs associated with the
business combination are expensed when they are incurred.
If the aggregate of the consideration transferred, the carrying amount of non-controlling interests and
the fair value on the acquisition date of any previously held ownership interests exceeds the fair value
of the acquired entity\u2019s identifiable net assets, the difference is capitalised as goodwill. If the aggre-
gate amount is less than the company\u2019s net assets, the difference is immediately recognised as a bar-
gain purchase in profit or loss.
Contingent consideration is classified either as equity or a financial liability. Amounts classified as a
financial liability are subsequently remeasured to fair value with changes in fair value recognised in
profit or loss.
Kvikna Consulting
In April 2025, NORBIT acquired the remaining
two thirds of the shares in Kvikna Consulting
Ehf (\"Kvikna\"). Based in Reykjavik, Iceland,
Kvikna is a technical consulting company special-
ising in technical software development and has
five employees. Kvikna has been a long-stand-
ing partner of NORBIT for several years. The total
considaration was NOK 0.6 million paid through
cash. The purchase price and the fair value of
assets and liabilities acquired are presented in
the table below. The company has been consoli-
dated from 1\u00a0May 2025.
Purchase price
1)
:
Amounts in million
ISK
NOK
Considerations shares
7.0
0.6
Total
7.0
0.6
Trade receivables
5.6
0.4
Other receivables
5.6
0.4
Cash and cash equivalents
10.3
0.8
Trade payables
(1.6)
(0.1)
Other current liabilites
(12.8)
(1.0)
Total identifiable net assets
7.0
0.6
Goodwill
0.0
0.0
Cash and cash equivalents in acquired business
10.3
0.8
Total cash outflow from acquisition of business
(3.3)
(0.3)
\n
1) The purchase price allocation is preliminary and may be subject to adjustments.
Innomar
In July 2024, NORBIT acquired 100 per cent of the
shares in the technology company INNOMAR Tech-
nologie GmbH (\"Innomar\"). Innomar is the global
market leader in the design, manufacturing, and
distribution of parametric sub-bottom profilers.
With nearly thirty years of experience in acoustic
systems, signal processing, maritime electronics,
and software, Innomar has developed cutting-edge
technology with high performance and built deep
domain expertise that is well recognised in the
market. Innomar serves a diversified and global
customer base, having sold systems to more than
80 countries, demonstrating extensive reach and
responsiveness to market demand.
The total consideration was EUR 40.2 million (NOK
468.8 million) paid through a combination of EUR
35.4 million in cash (NOK 412.9 million) and EUR
4.8 million (NOK 55.9 million) in issuance of consid-
eration shares. There is no contingent considera-
tion related to the transaction. The allocation of the
purchase consideration to the identifiable assets
acquired and liabilities assumed is presented in the
table below. The company has been consolidated
as of 1 July 2024 for accounting purposes, and the
acquisition analysis gave rise to goodwill of EUR
32.7 million (NOK 381.3 million).
Purchase price:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Amounts in million
EUR
NOK
Considerations shares
4.8
55.9
Cash consideration
35.4
412.9
Total
40.2
468.8
Recognised amount of identifiable assets and acquired liabilities assumed
\u00a0 \u00a0
Property, plant and equipment
1.0
12.0
Customer relations
4.5
53.1
Trademark
2.5
28.6
Inventories
0.6
6.7
Trade receivables
1.9
22.5
Other receivables
0.2
1.8
Cash and cash equivalents
0.9
10.3
Deferred tax liability
(2.2)
(26.2)
Trade payables
0.0
(0.4)
Tax payable
(1.6)
(18.9)
Other current liabilities
(0.1)
(1.7)
Total identifiable net assets
7.5
87.6
Goodwill
32.7
381.3
Cash and cash equivalents in acquired business
0.9
10.3
Total cash outflow from acquisition of business
34.5
402.6
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00276": { "value": "Accounting policy \u2013 Business combinations
Business combinations are accounted for using the acquisition method as of the acquisition date,
which is the date when control is transferred to the group. The consideration transferred is meas-
ured at the fair value of the assets transferred, equity instruments issued and liabilities assumed at
the acquisition date. The cost of acquisition includes the fair value of any contingent consideration
arrangements.
Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combina-
tion are measured initially at their fair values at the acquisition date. The costs associated with the
business combination are expensed when they are incurred.
If the aggregate of the consideration transferred, the carrying amount of non-controlling interests and
the fair value on the acquisition date of any previously held ownership interests exceeds the fair value
of the acquired entity\u2019s identifiable net assets, the difference is capitalised as goodwill. If the aggre-
gate amount is less than the company\u2019s net assets, the difference is immediately recognised as a bar-
gain purchase in profit or loss.
Contingent consideration is classified either as equity or a financial liability. Amounts classified as a
financial liability are subsequently remeasured to fair value with changes in fair value recognised in
profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00261": { "value": "Note 4.6
Equity-accounted investees
P
Accounting policy \u2013 Investment in associates
Associates are entities over which the group has significant influence but not control or joint control.
Investments in associates are accounted for using the equity method.
The investment is initially recognised at cost and subsequently adjusted for the group\u2019s share of profit
or loss and other comprehensive income of the associate.
The group\u2019s share of profit or loss from associates is presented as a separate line item in the consoli-
dated statement of profit or loss. Dividends received reduce the carrying amount of the investment.
Interests in associates
Equity-accounted investees comprise the group\u2019s
associates, which are considered related parties.
See
note 4.7
for overview of transactions and bal-
ances with associated companies.
Set out below are the associates of the group as
at 31 December 2025. The entities have share
capital consisting solely of ordinary shares held
directly by the parent company, and ownership
interests correspond to voting rights.
\u00a0 \u00a0
Ownership
Carrying amount
Amounts in NOK million
\u00a0
2025
2024
2025
2024
Associated company
Head office
\u00a0 \u00a0 \u00a0 \u00a0
Kvikna Consulting Ehf.
Reykavik
0%
33%
0.0
0.5
NOMEK AS
Trondheim
49%
0%
10.9
0.0
Total
\u00a0 \u00a0 \u00a0
10.9
0.5
\n
Kvikna Consulting Ehf
Based in Reykjavik, Iceland, Kvikna Consulting
Ehf. is a software company providing services
to all of NORBIT\u2019s operating segments. NORBIT
ASA owned 33.33 per cent of the shares in the
company and acquired the remaining shares in
April 2025.
NOMEK AS
In October 2025 the group acquired 49 per cent
NOMEK AS, a supplier of mechanical parts. The
transaction was structured as a contribution in
kind, whereby the group contributed the shares
in Aursund Maskinering AS to NOMEK AS and
received a 49 per cent ownership interest in
NOMEK AS in return.
Share of profits from associates
Amounts in NOK million
2025
2024
Kvikna Consulting Ehf.
(0.3)
(0.2)
NOMEK AS
0.1
0.0
Share of profit from associates
(0.1)
(0.2)
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00260": { "value": "Note 4.6
Equity-accounted investees
P
Accounting policy \u2013 Investment in associates
Associates are entities over which the group has significant influence but not control or joint control.
Investments in associates are accounted for using the equity method.
The investment is initially recognised at cost and subsequently adjusted for the group\u2019s share of profit
or loss and other comprehensive income of the associate.
The group\u2019s share of profit or loss from associates is presented as a separate line item in the consoli-
dated statement of profit or loss. Dividends received reduce the carrying amount of the investment.
Interests in associates
Equity-accounted investees comprise the group\u2019s
associates, which are considered related parties.
See
note 4.7
for overview of transactions and bal-
ances with associated companies.
Set out below are the associates of the group as
at 31 December 2025. The entities have share
capital consisting solely of ordinary shares held
directly by the parent company, and ownership
interests correspond to voting rights.
\u00a0 \u00a0
Ownership
Carrying amount
Amounts in NOK million
\u00a0
2025
2024
2025
2024
Associated company
Head office
\u00a0 \u00a0 \u00a0 \u00a0
Kvikna Consulting Ehf.
Reykavik
0%
33%
0.0
0.5
NOMEK AS
Trondheim
49%
0%
10.9
0.0
Total
\u00a0 \u00a0 \u00a0
10.9
0.5
\n
Kvikna Consulting Ehf
Based in Reykjavik, Iceland, Kvikna Consulting
Ehf. is a software company providing services
to all of NORBIT\u2019s operating segments. NORBIT
ASA owned 33.33 per cent of the shares in the
company and acquired the remaining shares in
April 2025.
NOMEK AS
In October 2025 the group acquired 49 per cent
NOMEK AS, a supplier of mechanical parts. The
transaction was structured as a contribution in
kind, whereby the group contributed the shares
in Aursund Maskinering AS to NOMEK AS and
received a 49 per cent ownership interest in
NOMEK AS in return.
Share of profits from associates
Amounts in NOK million
2025
2024
Kvikna Consulting Ehf.
(0.3)
(0.2)
NOMEK AS
0.1
0.0
Share of profit from associates
(0.1)
(0.2)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00275": { "value": "Accounting policy \u2013 Investment in associates
Associates are entities over which the group has significant influence but not control or joint control.
Investments in associates are accounted for using the equity method.
The investment is initially recognised at cost and subsequently adjusted for the group\u2019s share of profit
or loss and other comprehensive income of the associate.
The group\u2019s share of profit or loss from associates is presented as a separate line item in the consoli-
dated statement of profit or loss. Dividends received reduce the carrying amount of the investment.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00265": { "value": "Note 4.7
Related parties
Related parties include entities and individuals
with control, joint control or significant influence
over the group. All transactions with related par-
ties are conducted on an arm\u2019s length basis.
Transactions with management and board directors
During 2025, the group purchased legal services
of NOK 0.7 (1.7) million from Pr\u00e9tor Advokat AS, in
which Director Mr Tom Solberg is one of the part-
ners.
There were no other related party transactions
between the company and the parties in the man-
agement or the board in 2025 or 2024.
Transactions with associates
Below summarises the transactions and balance
sheet items with associates.
Amounts in NOK million
2025
2024
Trade receivables
0.0
0.0
Trade payables
0.2
0.2
Revenues
0.0
0.0
Operating expenses
2.5
4.7
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00268": { "value": "Note 4.8
Contingencies and claims
In June 2025, the Swedish Customs Author-
ity decided to reclassify the HS-code for Con-
nectivity's On-Board Units to a code that falls
under the Swedish chemical tax scheme. Chem-
ical tax are levied on certain electronics goods
that are imported to Sweden depending on the
HS-code. On-Board Units are imported to Swe-
den on trucks for onwards dispatch to European
end-customers. As a consequence of the reclas-
sification, the Swedish Customs resolved to levy
Connectivity a chemical tax on imports made in
the period from 2021 to 2024 for a total of SEK
26.3 million, and interest and penalty charges of
SEK 7.2 million.
The chemical tax liability, penalty and interest
was paid by NORBIT in second quarter of 2025.
NORBIT is in the opinion that the decision made
by the Swedish Customs Authority is wrong.
Thus, NORBIT appealed the decision, whereas
one of the objections is that, in NORBIT's opinion,
the On-Board Units are eligible for 90 to 95 per
cent tax deduction following the deduction rules
as set out in the act concerning tax levied on
chemicals in certain electronic items.
In March 2026, NORBIT received a review deci-
sion by the Customs Authority where the Author-
ity amended its previous position with respect to
the tax deduction, granting a 90 per cent reduc-
tion for the period prior to 1 July 2023 and a 95
per cent reduction for the duty for the period
from 1 July 2023 onwards. The Authority did not
amend its position regarding the reclassifica-
tion and the matter is currently being transferred
to the Swedish Administrative Court. A review
decision with respect to the interest and penalty
charges is expected shortly.
It is in NORBIT's opinion that the charges should
be reduced proportionally, meaning a reduction
of 90 to 95 per cent. In parallel to the appeal pro-
cess, NORBIT is applying for reimbursements
to the Swedish Tax Authority for the residual tax
paid, net after the tax deduction, for the period
from the second quarter 2022 to the fourth quar-
ter 2024 as it is in the opinion that all criteria are
fulfilled to be eligible for reimbursement. So far
the tax authority has decided to repay taxes for
the second quarter to the fourth quarter 2022
applications filed by NORBIT. Remaining applica-
tions will be filed by NORBIT in due course.
In light of the review decision made by the Cus-
toms Authority, recent positive outcomes of
tax reimbursement from the Tax Authority and
assuming charges are reduced proportionally,
NORBIT estimates that the direct costs amount
to approximately NOK 0.5 million. The amount is
not significant to the accounts, and no provisions
have been made pending the decision by the
Courts on the reclassification. ", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00269": { "value": "In June 2025, the Swedish Customs Author-
ity decided to reclassify the HS-code for Con-
nectivity's On-Board Units to a code that falls
under the Swedish chemical tax scheme. Chem-
ical tax are levied on certain electronics goods
that are imported to Sweden depending on the
HS-code. On-Board Units are imported to Swe-
den on trucks for onwards dispatch to European
end-customers. As a consequence of the reclas-
sification, the Swedish Customs resolved to levy
Connectivity a chemical tax on imports made in
the period from 2021 to 2024 for a total of SEK
26.3 million, and interest and penalty charges of
SEK 7.2 million.
The chemical tax liability, penalty and interest
was paid by NORBIT in second quarter of 2025.
NORBIT is in the opinion that the decision made
by the Swedish Customs Authority is wrong.
Thus, NORBIT appealed the decision, whereas
one of the objections is that, in NORBIT's opinion,
the On-Board Units are eligible for 90 to 95 per
cent tax deduction following the deduction rules
as set out in the act concerning tax levied on
chemicals in certain electronic items.
In March 2026, NORBIT received a review deci-
sion by the Customs Authority where the Author-
ity amended its previous position with respect to
the tax deduction, granting a 90 per cent reduc-
tion for the period prior to 1 July 2023 and a 95
per cent reduction for the duty for the period
from 1 July 2023 onwards. The Authority did not
amend its position regarding the reclassifica-
tion and the matter is currently being transferred
to the Swedish Administrative Court. A review
decision with respect to the interest and penalty
charges is expected shortly.
It is in NORBIT's opinion that the charges should
be reduced proportionally, meaning a reduction
of 90 to 95 per cent. In parallel to the appeal pro-
cess, NORBIT is applying for reimbursements
to the Swedish Tax Authority for the residual tax
paid, net after the tax deduction, for the period
from the second quarter 2022 to the fourth quar-
ter 2024 as it is in the opinion that all criteria are
fulfilled to be eligible for reimbursement. So far
the tax authority has decided to repay taxes for
the second quarter to the fourth quarter 2022
applications filed by NORBIT. Remaining applica-
tions will be filed by NORBIT in due course.
In light of the review decision made by the Cus-
toms Authority, recent positive outcomes of
tax reimbursement from the Tax Authority and
assuming charges are reduced proportionally,
NORBIT estimates that the direct costs amount
to approximately NOK 0.5 million. The amount is
not significant to the accounts, and no provisions
have been made pending the decision by the
Courts on the reclassification. ", "dimensions": { "concept": "ifrs-full:DisclosureOfClaimsAndBenefitsPaidExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00271": { "value": "Note 4.9
Events after the balance sheet date
On 25 February, NORBIT announced segment
PIR was in advanced negotiations with a Euro-
pean client within defence and security regarding
an order for contract manufacturing.
The expected value of the order is approximately
NOK 115 million, to be delivered in second quarter
2026. The order was received in March. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00272": { "value": "Note 4.10
Climate risk
NORBIT evaluates the overall climate risk to
be low. Hence, climate-related matters are not
expected to substantially affect assets, provi-
sions, or future cash-flows. The Task Force on
Climate-Related Financial Disclosure's (TCFD)
defines three main types of climate related risks;
physical risk, risk associated with transition to a
low carbon economy, and lastly liability risk.
NORBIT\u2019s main physical risk factors are iden-
tified to be rising sea levels, changes in hydro
power availability, and power outages and trans-
port challenges due to extreme weather events.
As NORBIT's main physical assets are in Nor-
way, and the Norwegian government has risk
mitigation measures and emergency response
plans in the event of such acute or chronic inci-
dents, the consequences, and hence, physical
risk is currently considered low. The transition
risk is considered more of an opportunity than a
risk, as NORBIT provides solutions that support
the green transition, particularly in areas such
as electrification and digitalisation. Lastly, the
liability risk is considered low as the industries
NORBIT operates in are not heavily exposed to
climate related legal regulations.", "dimensions": { "concept": "nk:DisclosureOfClimateRiskExplanatoryTextBlock", "language": "en", "entity": "scheme:254900C08RCMXVZYFY97", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00273": { "value": "STATEMENT OF PROFIT AND LOSS \u2013 NORBIT ASA
Amounts in NOK million
Note
2025
2024
Revenue
3
41.5
31.8
Employee benefit expenses
4
84.1
63.5
Depreciation and amortisation expenses
5
1.3
1.4
Other operating expenses
6
46.0
33.0
Operating profit
\u00a0
(89.8)
(66.1)
Financial income
7
581.1
348.6
Financial expenses
7
16.3
26.9
Net financial items
\u00a0
564.8
321.7
Profit before tax
\u00a0
475.0
255.6
Income tax expense
8
(104.2)
(57.2)
Profit for the period
\u00a0
370.8
198.4
Allocated to:
\u00a0 \u00a0 \u00a0
Dividends
9
319.5
190.9
Transferred to/from other equity
9
51.3
7.5
Total allocation
\u00a0
370.8
198.4
STATEMENT OF FINANCIAL POSITION \u2013 NORBIT ASA
\n \n
Amounts in NOK million
Note
31.12.2025
31.12.2024
ASSETS
Non-current assets
Office equipment
5
8.8
3.4
Intangible assets
5
1.4
1.5
Deferred tax asset
8
0.2
0.3
Investments in associated companies
10
10.9
0.0
Investments in subsidiaries
10
319.4
327.9
Loan to group companies
10
283.0
266.2
Investment in shares
13
12.1
12.0
Total non-current assets
635.9
611.2
Current assets
Trade receivables
0.1
0.0
Receivables on group companies
10
662.9
553.9
Other receivables
20.6
19.2
Cash and cash equivalents
11
1.9
1.8
Total current assets
685.5
574.9
Total assets
1 321.4
1\u00a0186.1
\n \n
Amounts in NOK million
Note
31.12.2025
31.12.2024
EQUITY
Share capital
9
6.4
6.4
Share premium
9
629.1
629.1
Other paid in eqity
9
32.1
16.4
Other equity
9
125.4
252.8
Total Equity
793.0
904.7
LIABILITIES
Current liabilities
Trade payables
6.1
2.1
Other payables
0.0
0.0
Interest-bearing borrowings
12
74.0
0.0
Tax payable
8
104.1
56.0
Other current liabilities
344.2
223.4
Total current liabilities
528.4
281.5
Non-current liabilities
Other borrowings
0.0
0.0
Interest-bearing borrowings
12
0.0
0.0
Total non-current liabilities
0.0
0.0
Total liabilities
528.4
281.5
Total equity and liabilities
1 321.4
1\u00a0186.1
Trondheim, Norway, 22 April 2026
The board of directors and CEO
NORBIT ASA
Finn Haugan
Bente Avnung Landsnes
Trond Tuvstein
Christina Hallin
H\u00e5kon Kavli
Per J\u00f8rgen Weisethaunet
Chair of the board
Deputy chair of the board
Director
Director
Director
Chief Executive Officer
STATEMENT OF CASH FLOWS \u2013 NORBIT ASA
Amounts in NOK million
Note
2025
2024
Profit before tax
475.0
255.6
Adjustments for:
Taxes paid in the period
(56.0)
(57.6)
Gain sale of shares
(0.8)
0.0
Depreciation and amortisation expenses
5
1.3
1.4
Share of profit from associated companies (less dividend)
(0.9)
0.0
Movements in working capital:
Change in balances with group companies
10
(109.1)
(77.0)
Change in other operating assets and liabilities
(5.2)
(21.5)
Net cash generated by operating activities
304.4
100.8
Cash flow from investing activities
Payments for office equipment and intangible assets
5
(6.6)
(1.9)
Purchase of shares and investments in other group companies
(1.0)
(6.4)
Payment of group receivables (long term)
(16.8)
(72.1)
Net cash (used in)/generated by investing activities
(24.4)
(80.5)
Cash flow from financing activities
Proceeds from share issue
9
15.8
278.1
Share buy-back transaction costs paid
(9.8)
(5.0)
Proceeds from sale of treasury shares
22.5
0.0
Net change in overdraft facility
12
74.0
(20.0)
Repayment of borrowings
0.0
(120.0)
Dividends paid
9
(382.3)
(152.9)
Net cash (used in)/generated by financing activities
(279.9)
(19.9)
Net change in cash and cash equivalents
0.1
0.4
Cash and cash equivalents at the beginning of the period
1.8
1.4
Cash and cash equivalents at the end of the period
11
1.9
1.8
STATEMENT OF CHANGES IN EQUITY \u2013 NORBIT ASA
2025
Share
Share
Other paid
Other
Total
Amounts in NOK million
capital
premium
in capital
equity
equity
Equity 1 January 2025
6.4
629.1
16.4
252.8
904.7
Profit for the year
0.0
0.0
0.0
370.8
370.8
Ordinary share issue
0.0
0.0
15.7
0.0
15.8
Repurchase of shares
0.0
0.0
0.0
(9.8)
(9.8)
Sale of of own shares
0.0
0.0
0.0
22.5
22.5
Extraordinary dividend resolved
0.0
0.0
0.0
(191.4)
(191.4)
Dividends
0.0
0.0
0.0
(319.5)
(319.5)
Equity 31 December 2025
6.4
629.1
32.1
125.4
793.0
2024
Share
Share
Other paid
Other
Total
Amounts in NOK million
capital
premium
in capital
equity
equity
Equity 1 January 2024
6.0
367.7
0.0
250.4
624.1
Profit for the year
0.0
0.0
0.0
198.4
198.4
Ordinary share issue
0.4
261.4
16.4
0.0
278.1
Repurchase of shares
0.0
0.0
0.0
(5.0)
(5.0)
Dividends
0.0
0.0
0.0
(190.9)
(190.9)
Equity 31 December 2024
6.4
629.1
16.4
252.8
904.7
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