15.2.2024 07:00:00 CET | Nekkar ASA | Additional regulated information required
to be disclosed under the laws of a member state

15 February 2024 - Nekkar ASA (Nekkar) delivered all-time high fourth quarter
and yearly revenues in 2023. The revenue for the fourth quarter was NOK 179
million, up 43 percent versus the same quarter in 2022 (125). EBITDA was NOK 32
million, representing a 137 percent increase (14). Order intake was strong at
NOK 242 million in the quarter (105).

"We are proud to present both a strong fourth quarter and annual results that
demonstrate our ability to innovate, develop businesses and execute customer
projects. Moreover, the tender activity and market outlook in the industry
segments we operate in remain positive," says Ole Falk Hansen, CEO of Nekkar.

Order intake in the fourth quarter of 2023 was NOK 242 million (105), including
a USD 15 million shiplift and ship transfer system contract and a EUR 6.5
million offshore crane award. At the end of 2023 Nekkar's order backlog stood at
NOK 803 million (824).

So far in the first quarter 2024, Nekkar's subsidiary Syncrolift has been
awarded a USD 5 million engineering design project for a shiplift and ship
transfer system in Chile. This award includes an option for equipment delivery
valued at approximately USD 24 million.

"Syncrolift's win rate remains impressive. I am also delighted to see that
Techano Oceanlift's new offshore cranes are gaining the attention of
shipowners," adds Ole Falk Hansen.

Nekkar reported revenue of NOK 179 million (125) in the fourth quarter 2023.
EBITDA was NOK 32 million (14), equivalent to an EBITDA margin of 18 percent
(10.9). EBIT was NOK 30 million (9). Cash flow from operations was NOK 29
million (38) in the quarter. Nekkar's balance sheet remains strong with NOK 194
million in cash, no interest-bearing debt, and an undrawn NOK 200 million credit
facility available at year-end 2023.

BUSINESS SEGMENT UPDATE

Nekkar's three operational subsidiaries all showed positive revenue development
in 2023. Syncrolift delivered revenue of NOK 515 million (383), Intellilift NOK
34 million (23), and Techano Oceanlift NOK 30 million (0).

Both Syncrolift and Intellilift have healthy EBITDA margins, while Techano
Oceanlift has softer EBITDA margins as the company is still in the build-up
phase.

"Syncrolift is a mature market leader and Intellilift's EBITDA-margin reflects
that it's a SaaS-driven business. Techano Oceanlift's EBITDA-margin is, as
planned, negatively affected by pricing of market entry projects. We expect this
to improve over time," says Ole Falk Hansen.

FULL-YEAR RESULTS 2023

For the full year 2023, Nekkar delivered revenue of NOK 575 million, an increase
of 48 percent from 2022 (388). The EBITDA result improved by 60 percent to NOK
109 million (68), equivalent to an EBITDA margin of 18.9 percent (17.5). EBIT
was NOK 101 million (57) for the full year.

PRESENTATION AT 08:00 AM TODAY

Nekkar ASA will hold a live webcast presentation today at 08:00 CET. The
presentation can be viewed from this URL: 
https://channel.royalcast.com/landingpage/hegnarmedia/20240215_20/

The presentation material is enclosed to this announcement.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

CONTACTS

 * Ole Falk Hansen, CEO, +47 988 14 184, ir@nekkar.com 

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies
combined with high-end software solutions. The group combines 50 years' heritage
from the world's number one shiplift company, Syncrolift, with new investments
into sustainable, digitalised technology businesses that aim to unlock growth
within ocean-based industries such as offshore energy, renewables and
aquaculture.

ATTACHMENTS

Nekkar ASA_Q4_2023_presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847326/2916/4081/Nekkar%20ASA_Q4_2023_pr
esentation.pdf