Down more than 25 percent after the quarterly numbers

Down more than 25 percent after the quarterly numbers

Nordic Unmanned achieved revenue growth of almost 40 percent and generated an operating income of €3 million.

The course opened immediately after the release of the new quarterly figures.

The operating result, EBIT, ended at negative €3.7 million. Thus the company continues to lose money, but less than before. In the first quarter of 2023, they achieved a negative operating result of €5.1 million and therefore have a strong improvement over the corresponding quarter of last year. The net result ended up being €4.4 million.

The company also reports that it has a contract reserve of €53 million and a potential value of opportunities in the pipeline in excess of €500 million. The company believes this should form a solid foundation for the next few years.

(million euros) 1.Q/24 1.Q/23
Operating income 3,024 2,167
Run result -6.747 −7.243
Result before taxes −4.381 -5.075
Result after tax −4.426 −4.611

Restructuring

A little over a month ago, the company announced a comprehensive restructuring. The restructuring entailed partial conversion of existing secured debt into equity, revised terms for remaining debt, and new short-term liquidity measures. The company aims to raise NOK 47 million.

The company announced that the background to this comprehensive restructuring exercise is the recognition of the need for a more manageable debt level and a stronger liquidity position.

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Dalila Awolowo

Dalila Awolowo

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