Nekkar (NKR) CMD 2025 Presentation summary

Strategic direction and business model

• Focuses on long-term ownership of technology companies in ocean-based industries, investing along megatrends like sustainable oceans, robotics, and digitalization.

• Operates a buy-to-own model, emphasizing disciplined growth, operational improvement, and reinvestment.

• Maintains a decentralized structure with autonomous operating companies, leveraging group-wide expertise while preserving company identities.

• Growth is built on strong earnings, cash flow, and disciplined capital allocation, supporting both organic and inorganic investments.

• Targets profitable, scalable companies with strong market positions and recurring revenue potential.

2027 ambition and financial targets

• Aims to reach 2 BNOK in revenues by 2027, up from 624 MNOK in 2024, with a strategic and balanced portfolio of 6-8 platform companies.

• Focuses on solid underlying operations and concentrated revenue generation, with new investments supplementing the existing portfolio.

• Capital allocation will flexibly support both organic growth and selective acquisitions, prioritizing value creation and strategic progress.

• Maintains a mandate for share buybacks (up to 10% of shares) and conservative use of debt for funding M&A.

Operating companies and market exposure

• Portfolio spans maritime (35% of 2024 revenue), defence (33%), aquaculture (19%), and offshore energy (13%).

• Key operating companies include Syncrolift (shiplifts and transfer systems), FiiZK (closed containment aquaculture), Globetech (maritime ICT), Techano Oceanlift (load handling), and Intellilift (automation software).

• Recent M&A activity includes the acquisition of Firstpoint by Globetech, adding 23 vessels to its fleet.

• Syncrolift maintains a ~60% global market share in shiplift new builds since 2012, with a large installed base driving recurring service revenues.

• FiiZK leads in closed containment systems for aquaculture, benefiting from regulatory incentives and strong demand for sustainable solutions.