Trondheim, 22 August 2019: NORBIT, a global provider of tailored technology to
carefully selected niches, today reported revenues for the second quarter 2019
of NOK 169.7 million, representing a revenue growth of 47 per cent from the
corresponding period in 2018. For the first half of 2019, revenues were NOK
327.3 million, up 59 per cent from the same period in 2018. Deliveries of new
products on major long-term contracts announced in the first half of 2019,
including Continental Automotive and the German company Toll Collect, has
enabled a significant part of the growth.

“We deliver all-time high revenues with profitable growth in all our segments.
At the same time, we are excited about the opportunities ahead. Following, the
listing of NORBIT on Oslo Børs in June, we are on track on our long-term goal.
We are ready to explore more,” says Per Jørgen Weisethaunet, CEO of NORBIT.

The group's adjusted EBITDA was NOK 40.4 million for the quarter and NOK 79.7
million for the first six months, corresponding to a margin of 24 per cent in
both periods and an increase from NOK 21.4 million and NOK 27.4 million in the
comparable periods last year. 

NORBIT has announced long term financial targets with a 3-year revenue CAGR of
more than 25 per cent and an EBITDA margin of more than 20 per cent. 

In the second half of 2019, NORBIT expects revenues and margins for the Oceans
segment to be on approximately the same level as in the first half of the year,
while the growth in segment Intelligent Traffic Systems (ITS) is expected to
continue into the second half of 2019. Segment Product Innovation & Realization
(PIR) will focus on increasing the production capacity, including investing in
expansion of facilities and new machinery. 
Please see the full report for the second quarter and first half of 2019
attached.

CEO Per Jørgen Weisethaunet and CFO Stian Lønvik will present the company’s
results today at 10:00 a.m. CET at Arctic Securities, Haakon VIIs gate 5, Oslo,
Norway.

For further queries, please contact:
Per Jørgen Weisethaunet 
CEO NORBIT  
+47 95962915 
pjw@norbit.com

Stian Lønvik 
CFO 
NORBIT  
+47 40451102
stian.lonvik@norbit.com

Charlotte Knudsen
IR and Communications NORBIT
+47 9756 1959
Charlotte.knudsen@norbit.com 

About NORBIT ASA
NORBIT is a global provider of tailored technology to carefully selected niches.
The company’s business is structured to address its key markets; Oceans,
targeting the global maritime markets, Intelligent Traffic Systems (ITS),
offering connectivity solutions for truck applications, and Product Innovation
and Realization (PIR), with in-house multidisciplinary R&D and manufacturing.

NORBIT is headquartered in Trondheim, Norway, with manufacturing facilities in
Selbu, Røros and Trondheim, Norway and 12 offices and subsidiaries around the
world.

For more information: www.norbit.com

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