Goodtech reports strong Q3 2025 with 57% EBITA growth

Goodtech ASA delivered solid financial results in Q3 2025, with net operating revenue after external project costs increasing by 12% organically to NOK 116.6m, up from NOK 103.8m in Q3 2024. EBITDA grew 27% year-over-year to NOK 15.4m, achieving a 13.2% margin, while EBITA saw a significant 57% increase to NOK 9.9m, reaching an 8.5% margin. Chief executive Margrethe Hauge noted that the strong performance in a typically softer period was driven by successful project completions and a focus on improving margins.

Order intake in Q3 2025 reached NOK 140m, a notable increase from NOK 109m in Q3 2024, despite the order backlog ending at NOK 317m (down from NOK 350m). The company maintains a robust capital structure with an equity ratio of 53% and cash and cash equivalents of NOK 87.8m. Goodtech also solidified its market position by securing a strategic offshore wind contract with Equinor for the Bałtyk 2 & 3 windfarms, valued at NOK 45m.

The company's focus on operational efficiency and strategic acquisitions over the past four years, including the divestment of non-core businesses, has contributed to its strengthened core business. Personnel costs increased by 7% due to general salary adjustments, while other operating expenses rose by 30% due to cost increases and quarterly allocation differences. Goodtech’s diverse industry focus, including energy, pharmaceuticals, and manufacturing, helps mitigate risks and positions it for continued competitiveness and growth.