Norway · Delayed Price · Currency is NOK Cambi ASA Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 saw revenue growth and strong cash flow, but EBITDA and margins declined year-over-year due to project mix and seasonality. The order backlog remains robust and diversified, with continued investments in new markets and a two-step dividend proposed.
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Q3 2025 saw revenue and EBITDA decline year-over-year, but order intake surged due to a major contract and the CNP Cycles acquisition, raising the backlog above NOK 1 billion. Cash flow was strong, supporting a total dividend of NOK 0.75 per share, and long-term growth is underpinned by regulatory trends and a robust project pipeline.
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Q2 2025 saw record revenue and strong cash flow, but EBITDA declined due to higher costs and a less favorable project mix. The order backlog provides visibility into 2026, though new awards are needed to sustain activity. Acquisition of CNP Cycles expands the technology portfolio.
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Revenue grew 4% year-over-year to NOK 225 million, but EBITDA fell 62% due to higher costs and project delays. Order backlog remains strong at NOK 1.2 billion, with new contracts in India, Spain, and Norway, and a strategic exit from the retail soil business.
Fiscal Year 2024
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Q4 2024 revenue fell 21% year-over-year, but full-year revenue exceeded NOK 1 billion for the first time, with robust margins and a strong order backlog. Strategic progress included new contracts in Spain and India, while the company exited the retail soil market to restore profitability.
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Q3 2024 saw 18% revenue growth year-over-year, robust margins, and a strong NOK 1.3 billion backlog. The company is well positioned for future growth, especially in the U.K. with the upcoming AMP8 cycle, and maintains a solid financial position with no long-term debt.
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The meeting addressed board changes due to the CEO's resignation, electing Andreas Mørk as chair and Per Arne Lillebø as interim CEO. All agenda items and board changes were approved by a large majority, with no questions from stakeholders.
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Q2 saw record revenue and EBITDA, with strong growth in both technology and solutions segments. Order backlog remains robust at NOK 1.5 billion, providing good visibility, while the company maintains a solid balance sheet and reiterates its dividend policy.