Cambi ASA: Backlog growth and solid outlook despite global turmoil lowering quarterly revenue

Asker, Norway, 31 August 2022 

Cambi's second-quarter results were marked by persistent project delays and
supply chain challenges, high inflation, and the project in Ukraine remaining
under force majeure. However, with three contracts signed in the quarter and two
more since the quarter close, Cambi continues to convert its robust sales
pipeline into orders that will lift medium-term results. 

 

Revenue for the second quarter was NOK 105 million (NOK 133 million), with
EBITDA at NOK (2.6) million. Order intake was NOK 244 million (NOK 119 million),
bringing the order backlog to NOK 544 million. The half-year revenue came in at
NOK 174 million (NOK 241 million), with an EBITDA of NOK (23.7) million. 

 

During the second quarter, Cambi strengthened its patent portfolio with the
acquisition of growth-enabling complementary technologies, launched a new THP
upgrade package and stepped up efforts to develop projects in which it retains
ownership and operations (DBO). Cambi is also increasingly taking a larger
supply scope in selected contracts.  

 

Eirik Fadnes, Cambi CEO, remarked: "The operational challenges that marked our
first-quarter results persisted through the spring, but there is steady progress
both at customer sites and in procurement processes. In the face of natural gas
shortages and climate change mitigation pledges, biogas projects are picking up
the pace, and I am pleased with how we built a stronger backlog in the period. I
am excited about our prospects and confident in our ability to deliver growth." 

 

Cambi will present a business update and its financial results today at 11:00 AM
CET. Follow the link to register: https://tinyurl.com/cambi-q2-2022.
Participants can send questions in advance upon registration or by email to
Investor Relations. A presentation recording will be available on the website
later today. 

 

The full report and slides are available on NewsWeb
(https://newsweb.oslobors.no/) and Cambi's website
(https://www.cambi.com/investors/reports-and-presentations/). 

 

This information is subject to disclosure requirements under section 5-12 of the
Norwegian Securities Trading Act. Any forward-looking information or statements
are subject to our disclaimer, available at https://cambi.com/terms-of-use. 

 

For more information, please contact:  
Eirik Fadnes, CEO, +47 907 20 014 
 
 
About Cambi: 

Cambi is a global biogas technology and solutions supplier for wastewater
treatment plants and anaerobic digestion facilities. Since 1992, Cambi has been
retaining market leadership through continuous innovation and a robust portfolio
of proven and patented technologies. Having developed strong project delivery
and customer support capabilities, the company has many diverse, well-performing
installations delivered in 25 countries on six continents. 

Cambi's thermal hydrolysis process increases renewable energy output, reduces
operational costs, and minimises greenhouse gas emissions. It is suitable for
all biosolids outlets, including land application and thermal processes, and is
easy to integrate at both new and existing anaerobic digestion sites. 

Cambi is listed on Euronext Growth Oslo, a multilateral trading facility part of
Euronext, the largest stock exchange platform in Europe. Find out more at
cambi.com.

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