contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Norbit is a technology company. The company specializes in sonar solutions used in the marine sector. The technology is based on proprietary technology and is mainly used for inspection and control of underwater environments, 3D imaging, and various system integrations. In addition, various products are offered for surveillance, digital signal processing, and high-resolution data. The largest operations are found in North America and Europe. The headquarters are located in Trondheim, Norway.

A few slides from that annual report, seasoned (perhaps) with my own thoughts. I’ve already linked many of the events here, so it’s pretty familiar stuff.    What can I say about the revenue and earnings. The growth has been beautiful, and last year’s record results crowned it. Overall, the security & defense orders received for the PIR segment have acted as a clear driver. I don’t see this demand fading anytime soon.   All segments are growing. Oceans and Connectivity are up a bit under 20%, and PIR exploded into 100% growth for the reasons mentioned above (although I’m confident in the defense sector’s demand, there’s still a small risk of an earnings bubble here). On the other hand, the company itself emphasizes that there is currently demand for European technology in Europe. Big surprise! As you bunnies following this thread already knew in advance from yours truly, Norbit will reach its 2027 targets a year early. So you read it here first, and only now is Norbit announcing it in its annual report. I’m most excited about this part of the CEO’s statement:  As we approach our 2027 ambition ahead of schedule, it is natural to lift our perspective further. During 2026, we intend to present our ambitions towards 2030 — building on the same development-oriented culture,  commercial discipline, and industrial capability that have brought us this far.   Those were the highlights. Need to keep browsing.

Fresh 2025 annual report available:           norbit.com              NORBIT%20ASA%20-%20Annual%20Report%202025.pdf    9.55 MB                            In the afternoon, I’ll get to read that most beautiful thing again!  The stock price is rocketing today as well, as the suits have raised their target prices. Wonderful to be alive!

It’s great that Norbit has ended up on your watchlist ;). You’re likely more well-informed regarding insider information than I am, but my understanding is that this falls under that category. For Norbit, this kind of announcement has typically led to a contract, and the company is just providing information to the investor at an early stage. After all, even the delivery schedule is already pretty much agreed upon. So, this deal will get over the line too, and Q2 PIR will get at least those 200 MNOK in deliveries ;). I’m not a big fan of these ‘maybe contracts’ myself either, but with Norbit, they have meant actual contracts.

A bit strange, these “maybe there’ll be a deal” announcements?  If things are going so well, why the need to hype it up?                   Inderes              NORBIT – Advanced negotiations regarding a NOK 115 million contract - Inderes    Trondheim, 25 February 2026 NORBIT today announces that segment PIR is in advanced negotiations with a European client within defence and security regarding an order for contract manufacturing...

Inderes              NORBIT - Transaction by Primary Insider - Inderes    Trondheim, 12 February 2026 Christina Hallin, director and primary insider of NORBIT ASA has on 11 February 2026 purchased 1 000 shares in NORBIT at an average price of NOK 185.00 per share....                              Christina Hallin, director and primary insider of NORBIT ASA has on 11 February 2026 purchased 1 000 shares in NORBIT at an average price of NOK 185.00 per share. Following the transaction, Hallin owns 1 000 shares in NORBIT.   Small streams…!

Let’s get back to the Q4 report by segment. The quarter was the best in the company’s history. I’m listening to the conference call at the same time and will add more details as I go. Oceans   Basic sonars are performing well, Wingheads are not. Usually the strongest quarter, but clearly weaker this year. As @stockenstain wrote above, for a few orders, delivery likely shifted to Q1. Oceans shouldn’t be viewed just quarter by quarter, but over a longer period: full-year development was very good. New innovations during the quarter, long-range sonars for mapping deep water bodies → expands the company’s TAM.  Connectivity   GNSS OBUs are rocking, as explained in the messages above. The Toll4Europe cooperation provides nice support; the 160MNOK order received during the quarter will be delivered during H1. Only part of the large 160MNOK order was delivered in Q4, and part shifted to Q1’26. A slower-than-expected production ramp-up was the reason.  PIR   An absolutely insane quarter driven by the defense sector. This is a double-edged sword: Is it just a temporary hype, and PIR will return to low-margin stagnation, or will this become the new normal? If it does, Norbit would turn even this historically weaker segment into a real powerhouse, significantly brightening the company’s future (as good demand can be expected across all segments). Demand in the defense sector remains high. Q4 EBIT margin rose from 14% to 22% year-on-year, and for the full year from 10% to 19%. Two large orders are estimated to be delivered during Q1’26 (120MNOK and 170MNOK).

PIR’s share of revenue rose from 31%→43% and defense revenue from 103M→696M, which is the most significant change in this report. ROCE rose to 34% (27% the previous year). The Oceans segment was weak in Q4, mainly due to an export license issue in the security sector and the postponement of renewable energy projects — management expects Q1 to improve. 2026 guidance is >3.0 billion NOK with margin improvement, and the 2027 targets were surpassed a couple of years ahead of schedule. New long-term targets through 2030 will be released in August. Based on this report, this morning’s dip looks illogical and like a good buying opportunity.

Norbit

Handelsbanken Fonder AB has on 2026-04-22 sold 79 133 shares in Norbit ASA (NO0010856511) and has consequently passed the 5% disclosure threshold. Please find further details below. Number of...

<pre>Handelsbanken Fonder AB has on 2026-04-22 sold 79 133 shares in Norbit ASA (NO0010856511) and has consequently passed the 5% disclosure threshold. Please find further details below. Number of shares 	 	 Shares	 Votes 	 #	 %	 #	 % 2026-04-21 	3 214 654	5,03	3 214 654	5,03 2026-04-22	3 135 521	4,90	3 135 521	4,90 </pre>