NORBIT ASA - Annual Report for 2022

30 Mar 2023 06:59 CEST

Trondheim, 30 March 2023: NORBIT today announces that it has published its
Annual Report for 2022, which also includes the Sustainability Report and the
Corporate Governance Report, which the board of directors approved on 29 March
2023.

"Our ability to develop and grow continued to be demonstrated in 2022. We
delivered close to 50 per cent growth in revenues and improved profitability,
driven by strong performance across all our business segments. We are on-track
to reach our ambition of delivering NOK 1.5 billion in revenues and an EBITDA
margin of 25 per cent in 2024. Since 2010, revenues have on average grown by 31
per cent annually and we have improved our profitability, laying the foundation
for long-term value creation," says Per Jørgen Weisethaunet, CEO of NORBIT.

The report is attached to this notice and is also available at the company's
website, www.norbit.com, under Investors.

The company also publishes its annual financial statements in European Single
Electronic Format (ESEF), available as an attachment to this release.

For further queries, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

About NORBIT ASA
NORBIT is a global company providing tailored technology to selected
applications by solving challenges through innovative solutions, in line with
its mission to Explore More. The company is structured in three business
segments to address its key markets: Oceans, Connectivity and Product Innovation
& Realization (PIR). The Oceans segment delivers tailored technology solutions
to global maritime markets. The Connectivity segment provides tailored wireless
solutions for identification, monitoring and tracking. The PIR segment offers
R&D services, proprietary products, and contract manufacturing to key customers.
NORBIT has around 450 employees, with headquarter in Trondheim, R&D and
manufacturing in Norway and Hungary, and a worldwide sales and distribution
platform.

For more information: www.norbit.com

This information is subject to the disclosure requirements in the Norwegian
Securities Trading Act § 5-12.

More information:
Access the news on Oslo Bors NewsWeb site

586579_254900C08RCMXVZYFY97-2022-12-31-en.zip
586579_NORBIT Annual Report 2022.pdf