Norcod AS Income Statement

Financials in millions NOK. Fiscal year is January - December.

Millions NOK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	444.37	397.18	269.42	170.54	72.63
Revenue Growth (YoY)	11.88%	47.42%	57.98%	134.80%	905.30%
Cost of Revenue	375.91	354.59	298.61	337.99	84.19
Gross Profit	68.46	42.59	-29.19	-167.45	-11.55
Selling, General & Admin	80.16	88.92	66.49	43.86	28.63
Other Operating Expenses	144.58	93.19	85.66	53.55	16.46
Operating Expenses	269.12	218.66	181.24	113.44	53.84
Operating Income	-200.66	-176.07	-210.43	-280.89	-65.39
Interest Expense	-21.75	-23.9	-25.14	-11.82	-13.08
Earnings From Equity Investments	-	-	1.49	1.8	-0.42
Currency Exchange Gain (Loss)	-2.19	-2.15	-8.25	-3.92	3.54
Other Non Operating Income (Expenses)	-2.87	-3.48	-1.53	-1.88	0.19
EBT Excluding Unusual Items	-227.46	-205.61	-243.86	-296.72	-75.16
Merger & Restructuring Charges	-	-	-2.62	-	-
Gain (Loss) on Sale of Investments	-	-0.5	-	-	-
Gain (Loss) on Sale of Assets	-	-	-2.82	-0.5	-
Other Unusual Items	-	-28.9	-	-	-
Pretax Income	-227.46	-235	-249.3	-297.22	-75.16
Income Tax Expense	-	-	-3.12	-	-
Net Income	-227.46	-235	-246.18	-297.22	-75.16
Net Income to Common	-227.46	-235	-246.18	-297.22	-75.16
Shares Outstanding (Basic)	-	40	23	19	19
Shares Outstanding (Diluted)	-	40	23	19	19
Shares Change (YoY)	-	71.92%	21.78%	-	-
EPS (Basic)	-	-5.85	-10.54	-15.50	-3.92
EPS (Diluted)	-	-5.85	-10.54	-15.50	-3.92
Free Cash Flow	-225.98	-201.45	-255.57	-238.76	-143.4
Free Cash Flow Per Share	-	-5.02	-10.94	-12.45	-7.48
Gross Margin	15.41%	10.72%	-10.83%	-98.19%	-15.90%
Operating Margin	-45.16%	-44.33%	-78.10%	-164.71%	-90.03%
Profit Margin	-51.19%	-59.17%	-91.37%	-174.28%	-103.47%
Free Cash Flow Margin	-50.85%	-50.72%	-94.86%	-140.00%	-197.43%
EBITDA	-156.28	-158.43	-197.22	-273.9	-61.66
EBITDA Margin	-35.17%	-39.89%	-73.20%	-160.61%	-84.89%
D&A For EBITDA	44.38	17.65	13.21	6.99	3.73
EBIT	-200.66	-176.07	-210.43	-280.89	-65.39
EBIT Margin	-45.16%	-44.33%	-78.10%	-164.71%	-90.03%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.