Nordic Unmanned achieved revenue growth of almost 40 percent and generated an operating income of €3 million.
The course opened immediately after the release of the new quarterly figures.
The operating result, EBIT, ended at negative €3.7 million. Thus the company continues to lose money, but less than before. In the first quarter of 2023, they achieved a negative operating result of €5.1 million and therefore have a strong improvement over the corresponding quarter of last year. The net result ended up being €4.4 million.
The company also reports that it has a contract reserve of €53 million and a potential value of opportunities in the pipeline in excess of €500 million. The company believes this should form a solid foundation for the next few years.
| (million euros) | 1.Q/24 | 1.Q/23 |
| Operating income | 3,024 | 2,167 |
| Run result | -6.747 | −7.243 |
| Result before taxes | −4.381 | -5.075 |
| Result after tax | −4.426 | −4.611 |
Restructuring
A little over a month ago, the company announced a comprehensive restructuring. The restructuring entailed partial conversion of existing secured debt into equity, revised terms for remaining debt, and new short-term liquidity measures. The company aims to raise NOK 47 million.
The company announced that the background to this comprehensive restructuring exercise is the recognition of the need for a more manageable debt level and a stronger liquidity position.
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