NORBIT awarded NOK 75 million order for GuardPoint Underwater Surveillance Sonars

NORBIT today announces that segment Oceans has received an order for delivery of several GuardPoint surveillance sonar systems from a new, undisclosed international customer. The value of the order is approximately NOK 75 million, with most of the revenues expected to be recognised in the fourth quarter this year.
  
The GuardPoint sonar is a powerful surveillance tool designed to detect, track, classify, and alert to the presence of underwater objects in tough environments.

“In times of increasing geopolitical unrest, the need to protect what lies underwater has become more evident. At NORBIT, we are proud to see our solutions contribute to increased safety for people and critical infrastructure. This new order is, for us, a proof of the relevance of our offering”, says Per Jørgen Weisethaunet, CEO of NORBIT.

For more information, 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 provider of tailored technology to selected applications, solving challenges and promoting sustainability 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. The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment provides wireless solutions for identification, monitoring and tracking. The Product Innovation & Realization segment offers R&D services, proprietary products, and contract manufacturing to key customers. NORBIT is headquartered in Trondheim with manufacturing in Europe, has around 500 employees, and a worldwide sales and distribution platform.

For more information: www.norbit.com

This stock exchange release contains inside information as defined in the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Securities Trading Act.

The information was submitted for publication by Elise Heidenreich, Investor Relations at NORBIT ASA, on 13 September 2024 at 13:45 CEST