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Norway's Goodtech Q3 net operating revenue rises 4.3%

By Reuters News


Overview

  • Norway industrial automation firm's Q3 net operating revenue rose 4.3% yr/yr to NOK 121.6 mln

  • Q3 EBITA declined yr/yr as investments in new hub weighed on margins

  • Company signed NOK 240 mln Nussir EPC contract after quarter-end, boosting backlog visibility


Outlook

  • Company says Nussir contract strengthens backlog visibility and supports future activity levels

  • Goodtech expects broad market exposure to support continued profitable growth

  • Company says recurring After-Sales and Service revenue expected to support revenue resilience


Result Drivers

  • AFTER-SALES AND SERVICE - Co said strong growth in After-Sales and Service revenue contributed to more recurring and higher-margin revenue streams

  • INVESTMENTS IN CAPACITY - Co said investments in new Kristiansand hub expanded engineering capacity but negatively affected Q3 margins

  • ENGINEERING AND DIGITALIZATION - Co said continued growth in engineering, service and digitalization activities supported revenue


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Operating Revenue

NOK 121.60 mln

Q3 EBITA

NOK 8.50 mln

Q3 Order Backlog

NOK 281 mln

Q3 Order Intake

NOK 130.50 mln


Analyst Coverage

  • The one available analyst rating on the shares is "hold"

  • The average consensus recommendation for the industrial machinery & equipment peer group is "buy."

  • Wall Street's median 12-month price target for Goodtech ASA is NOK19.00, about 20.3% above its October 29 closing price of NOK15.80

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Oct 28 - Norway's Aker Solutions Q3 revenue and EBITDA miss analyst estimates

  • Oct 29 - Finland's Incap Q3 revenue rises on acquisition and defense demand

  • Oct 27 - Sweden's Prevas Q3 sales, EBITA flat; cash flow improves


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.)

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