General Oceans ASA - Revenue growth of 22% in Q2 2026
Oslo, 13 August 2026: General Oceans reports a total revenue in Q2 2026 of NOK
385, an increase of 22 percent compared to Q2 2025. Gross profits were NOK 269
million (NOK 218 million), corresponding to a gross margin of 70 percent (69
percent). Adjusted EBITA came in at ~22 percent which compares to the
longer-term target of the Group of 20 percent.
In Q2, the acquisition of MRV was successfully completed and consolidated from 9
April 2026. MRV is a U.S.-based supplier of floats to the international ARGO
program and has been integrated into the Robotics segment.
The subsea defense market is buoyant, as both government and private investors
fund technology. General Oceans companies are supplying sensors and solutions
for mine countermeasures (MCM), expeditionary warfare and intelligence,
surveillance and reconnaissance (ISR), representing an ongoing opportunity for
growth.
"Our defense revenues continued to grow in Q2, supported by strong operational
execution and the continued strength of global defense markets. We are seeing
increasing demand for advanced autonomous and subsea capabilities, creating
solid momentum across the segment," said Atle Lohrmann, President of General
Oceans ASA.
Order backlog as at 30 June 2026 was NOK 548 million, of which NOK 426 million
is expected to be delivered during the current financial year.
General Oceans invites investors, analysts, media and other stakeholders to
attend the presentation of its results for the second quarter of 2026. The Q2
report and presentation materials will be available on the company's website
www.generaloceans.com and on www.newsweb.no.
The presentation will take place on 13 August 2026 at 08:00 CEST at the Hotel
Continental in Oslo, "Hjørnet room" and will also be live streamed. The
presentation will be delivered by General Oceans President Atle Lohrmann and CFO
Anton Van Heerden, and will be followed by a Q&A session. Questions may be
submitted in advance to investors@generaloceans.com or asked live during the
session.
To attend in person or to watch the live stream, please register via the
following link: https://qcnl.tv/p/v49Wf2oLz6PedkgMs2r2Bw. A recording of the
presentation and the Q&A session will be published on the Company's website.
For further information, please contact: Rachel McAlpine, Group Marketing
Manager at General Oceans, investors@generaloceans.com
About General Oceans ASA
General Oceans is a global provider of advanced underwater technology delivering
sensors, systems and robotic solutions used in demanding marine environments.
The Group produces technology for measuring and understanding the ocean, imaging
& navigation systems, and autonomous/remotely operated vehicles with associated
manipulators and control systems, and delivers products to marine
infrastructure, defense and ocean science Underwater acoustics is the core of
the Group's technology, complemented by optical technology, environmental
sensors and software capabilities.
This information is considered to constitute inside information pursuant to the
EU Market Abuse Regulation article 7 and is subject to the disclosure
requirements pursuant to article 17 of MAR and section 5-12 of the Norwegian
Securities Trading Act. This stock exchange announcement was published by Rachel
McAlpine at 7:00am CEST 13th August 2026. This announcement contains
forward-looking statements. Forward-looking statements are statements that are
not historical facts and may be identified by words such as "believe", "expect",
"anticipate", "strategy", "intend", "estimate", "will", "may", "continue",
"should" and similar expressions. Such statements are based on current
expectations and assumptions and are subject to risks and uncertainties. Actual
results may differ materially from those expressed or implied in these
statements.
uncertainties. Actual\
results may differ materially from those expressed or implied in these\
statements.\