Norway's Nekkar Q1 revenue rises 17%, order intake up 46%

Nekkar Asa

07/05/2026 06:23

Overview

Norway ocean-tech group's Q1 revenue rose 17% yr/yr to NOK 130 mln

Q1 EBITDA turned positive to NOK 7 mln, margin at 5.5%

Order intake jumped 46% yr/yr to NOK 227 mln, led by automation contracts

Outlook

Company says tendering activity remains high, but specific award timing is uncertain

Nekkar expects SaaS revenue to scale as units come online from recent awards

Company says defense-related tendering supports medium-term visibility, but timing is hard to predict

Result Drivers

SEGMENT GROWTH - Revenue growth was driven by healthy activity in Intellilift and Globetech, while Techano Oceanlift reported improved results

SYNCROLIFT IMPACT - Syncrolift contributed nearly half of group revenues, with muted profitability slightly above the same quarter last year; revenues were impacted by timing of new-build project awards

COMMERCIAL MOMENTUM - Intellilift saw continued commercial momentum, including a major automation contract and additional awards after quarter-end

Company press release: ID:nObifW0kwa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
NOK 130 mln
Q1 EBITDA
NOK 7 mln
Q1 Order Backlog
NOK 765 mln
Q1 Orders
NOK 227 mln


Analyst Coverage

The one available analyst rating on the shares is "strong buy"

The average consensus recommendation for the heavy electrical equipment peer group is "buy."

Wall Street's median 12-month price target for Nekkar ASA is NOK18.00, about 31.9% above its May 6 closing price of NOK13.65

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)