Nekkar ASA ( (DE:0TT) ) just unveiled an update.
Nekkar ASA reported a 27% decline in first-quarter revenue to NOK 111 million, primarily due to slower progress in Syncrolift projects and increased costs in Techano Oceanlift projects. Despite the negative EBITDA of NOK 12 million, the company maintains a strong balance sheet with NOK 182 million in cash and no interest-bearing debt. Nekkar’s order intake for the quarter was NOK 155 million, driven by Techano Oceanlift’s new contracts, and the company remains optimistic about its future growth, particularly in the defense segment.
More about Nekkar ASA
Nekkar ASA is an industrial long-term owner of ocean-based technology companies, focusing on sustainable oceans, robotics, intelligent logistics, and digital solutions. With a 50-year industrial heritage from Syncrolift, Nekkar applies a buy-to-own strategy to build long-term value, supporting empowered operating companies with a strong balance sheet and strategic reinvestments for profitability and sustainable growth.
Average Trading Volume: 124,330
Current Market Cap: NOK1.19B
Learn more about 0TT stock on TipRanks’ Stock Analysis page.