"Byggma achieved a sales growth of 6.9 % and an increase in adjusted operating
profit in the third quarter of 2025. In this historically weak market, we
continue to deliver consistently better operational results than before the
COVID-19 pandemic. This is partly due to innovation and increasingly efficient
operations, but above all because all our employees are working a little smarter
and harder in challenging times."

"I am proud of the effort put in by all our employees, which has made Byggma a
much more robust and profitable group than before. At some point in the future,
we expect the market to gradually normalize, which will lead to increased growth
and operating margins."

The Group's sales revenues in Q3 2025 amounted to NOK 537.8 million which is a
NOK 34.6 million (6.9 %) increase from Q3 2024. Total sales revenues YTD are
at NOK 1,766.2 million compared to NOK 1,593.0 million YTD last year, which
is an increase of NOK 173.2 million (10.9 %)  

 

EBITDA in Q3 was NOK  61.8 million in 2025, compared to  58.5 million in
2024. EBITDA pr Q3 2025 was NOK  175.5 million, compared to NOK  163.6
million in 2024. 

 

The adjusted operating profit in Q3 2025 was NOK  39.8  million compared
to NOK  38.2 million in the same period last year. YTD the adjusted operating
profit have increased to NOK 109.5 million in 2025, compared to NOK 98.9 million
in 2024. The operating profit contains non-recurring items, please see
reconciliation of adjusted operating profit in Alternative Performance Measures
after the notes to the interim report. 

 

From the 9th of March 2023 the investment in Norske Skog ASA is classified as an
investment in associate and is accounted for using the equity method in
accordance with IAS 28. Share of profit from associates was NOK 131.7 million
pr Q3 2025. See Norske Skog ASA's latest quarterly report and annual
accounts for more information. 

 

The Group achieved an adjusted profit before tax pr. Q3 2025 of NOK 36.5
million, compared to NOK 28.4 million last year.  

 

Q3 2025, net financials amounted to an expense of NOK 73.0 million which
is NOK 2.4 million increase in cost compared to the same period in 2024. The
main reasons for the increase in net financial expenses are increased overdraft,
and changes in the value of interest rate swaps. Please see note 3 for
specification of net financials. 

 

The liquidity reserve as of 30 September 2025 amounted to NOK 49.6million, a
reduction of NOK 72.4 million from 1 January 2025. The Board of Directors will
maintain its focus on capital and cost-efficiency. 

 

Net interest-bearing debt has increased from NOK 1,365.8 million as of 1
January 2025 to NOK 1,432.7 million as of 30 September 2025. As of the
third quarter of 2025, loans were acquired of NOK 27.2 million. Of this amount,
NOK 20.9 million can be attributed to the recognition of lease liabilities.  

Investments in tangible fixed assets and intangible assets as of Q3 2025
totaled NOK 79.8 million which is NOK 52.5 million higher than same period in
2024.  

 

Total assets increased from NOK 2,911.8 million as at 1 January 2025 to NOK
3,137.6 million as of 30 September 2025. Booked equity as of 30 September
2025 was NOK 1,083.1 million (34.5 %), which is an increase of NOK 170.6
million compared to 1 January 2025 (31.3 %). The reasons for the change in
equity are due to the profit of the year of NOK 173.5 million, a currency
translation difference of NOK 2.7 million and share of other comprehensive
income from associate of NOK -5.5 million.