Q1 2026 Fjord Defence Group ASA Earnings Call Transcript
Key Points
- Fjord Defence Group ASA successfully completed the acquisition of Scanfiber, enhancing its position in the defense industry.
- The company reported significant revenue growth, reaching 254 million compared to 70 million in 2022.
- EBITDA increased substantially from 10 million in 2022 to 69 million in 2025, indicating strong financial performance.
- The company has a solid balance sheet with a strong cash position of almost 200 million NOC and an equity ratio of 91%.
- Fjord Defence Group ASA is well-positioned for future growth with plans to acquire one to three more companies this year.
- The legacy part of the business reported a loss of 6.5 million, indicating challenges in non-defense segments.
- Major amortizations related to acquisitions have no tax effect and could impact financial statements.
- Quarterly revenue variations are expected to continue, which may lead to financial unpredictability.
- The company faces the challenge of integrating Scanfiber and expanding its customer base to meet growing demand.
- Despite strong financials, the company must manage the complexities of its buy and build strategy effectively to sustain growth.
Welcome to the fourth-quarter 2025 presentation for Fjord Defence Group ASA. The presentation will be done by me, Jon Asbjorn Bo, CEO, and also Oyvind Molmann, the CFO of the company. As an introduction, I can tell you that we are very happy that yesterday. We closed up finally everything with the acquisition of Scanfiber. So that is now formally a part of Fjord Defence Group.
If we look at 2025 in perspective, we have done a. Total change of what earlier was Aquila Holding and we have turned that in to a compounder of the defense industry. We have done during since or since June two acquisitions. We bought up Pure Defense AS and we also. Bought up scan fiber which is now finally done with all the legal things that have to be done.
So we have done what we set out to do and in a tempo that we wanted it to be. If we look at the defense part. And look at Scanfiber and Fjord Defence combined. You see the growth of revenue over the last years are quite good, I would say. We are now up to 254 million compared to 70 million in
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