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The fourth quarter and 2025 results highlights were:
- Operational cash flow for the year was NOK 36 million, driving a net cash
position of NOK 150 million after NOK 64 million in share buybacks through
the year- Full year group revenues of NOK 571 million down 8% YoY, while Syncrolift
decreases 36%, highlights the growing maturity of remaining investment
portfolio- During the fourth quarter FiiZK completed a milestone delivery of two
Protectus closed containment systems to Mowi who are now successfully in
operation- Mowi also ordered additional 4x Protectus closed containment systems,
solidifying FiiZk as a market leader- InteliWell, a joint venture including Intellilift, was awarded two new rig
contracts through the quarter as well as a conversion from trial to full
deployment and counts five active or confirmed rigs in total by year end- After quarter’s end, InteliWell, the JV between Intellilift and Transocean,
also secured a major agreement for drilling automation solutions on 11
offshore rigs. Installations are set to commence during the second quarter
with one or more rigs to be deployed per quarter over a 30-month period- Tendering activity continues at a record high level across the group, with
specific award timing yet to be determined
This reflects current progress well; while one part is stalling, a couple of others are moving forward nicely. The cash position and balance sheet are in good shape, we just need to get those Syncrolift orders in.
“Despite Syncrolift declining 36% in YoY revenues due to little new order
intake, Group figures are holding up well and highlighting that Nekkar is
increasingly becoming a more diverse portfolio as some of the growth companies
are maturing and entering new phases. As long-awaited orders eventually start to
materialize, the platform from which we can continue to build toward our 2027
ambition on continues to look solid.” says Ole Falk Hansen, CEO of Nekkar ASA.
Investor presentation included as well
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Intellilift and Inteliwell announced a major contract at the same time. Previously there were 5, now 11 more are coming, meaning 16 implementations in total. 10-year recurring revenue contracts. 