NORDIC TECHNOLOGY (NTG) H2 2025 earnings summary

Executive summary

• Operating revenues for 2H 2025 were NOK 14.6 million, down from NOK 26.9 million in 2H 2024, mainly from Hammertech AS and MossHydro AS.

• Net operating loss for 2H 2025 was NOK 97.7 million, an improvement from NOK 143.3 million loss in 2H 2024.

• The group is divesting its Clean technology business area and wrote down NOK 8.4 million on MossHydroAS.

• CondAlign AS was excluded from 2H 2025 results after being written down at year-end 2024.

Financial highlights

• Total operating expenses in 2H 2025 were NOK 113.4 million, down from NOK 170.2 million in 2H 2024.

• Net loss for 2H 2025 was NOK 101.1 million, compared to NOK 228.4 million in 2H 2024.

• Cash balance at 31 December 2025 was NOK 3.8 million, down from NOK 8.0 million a year earlier.

• Book value of equity at year-end 2025 was NOK 197.5 million, with an equity ratio of 59.3%.

• Net cash outflow from operations in 2H 2025 was NOK 65.3 million, improved from NOK 71.3 million in 2024.

Outlook and guidance

• Management emphasizes material uncertainty regarding timing of revenue realization and raising additional financing.

• Continued operations depend on securing new contracts, additional financing, and sale of non-core subsidiaries.

• Board and CEO believe current plans are sufficient to support liquidity for the next 12 months.