Cambi ASA: Third-quarter results 2023

Asker, Norway, 1 November 2023 
 

Cambi announced its third-quarter results today, delivering the sixth
consecutive quarter with EBITDA growth to a quarterly record of NOK 70 million.
The company has now also reached its order intake estimate of NOK 1.2 billion
for the period 2023-2024 within three of the eight quarters. 

 

Key highlights 

Financial performance: Record-high EBITDA (NOK 70 million), order intake (NOK
983 million), and order backlog (NOK 1,791 million). The EBITDA margin of 30%
demonstrates business scalability. The results provide good visibility for
financial performance in the coming two years. 

Six new equipment contracts: One major, three large and two medium contracts in
different world regions, including two new countries, Israel and New Zealand,
testify to the broad appeal of Cambi's robust technology platform.  

Leveraging core strengths: Cambi is committed to maximising the adoption of its
thermal hydrolysis process (THP) technology globally and growing its recurring
revenue streams. The strategy has been realigned in the quarter for Cambi to
remain a neutral technology supplier in public tenders. Sludge treatment plant
ownership is no longer a priority. 

New reporting segments: The Technology segment comprises THP and related
equipment sales to new customer sites. The Solutions segment comprises offerings
to existing THP sites and Cambi's sustainable soils business, Grønn Vekst. 

Value to shareholders: Following the strategic realignment, an extraordinary
dividend payment of NOK 0.60 per share was approved at the end of the quarter
and paid in October. 

 
Comment from Cambi's CEO, Eirik Fadnes 

"I am incredibly proud of the team's achievements this quarter, with both the
Technology and Solutions segments continuing to deliver exceptional performance.
With a solid year-to-date cash conversion ratio of 80% and a book-to-bill ratio
of 2.1, we reiterate our guiding of paying a dividend of 60-80% of net profits
in the coming two years." 

 

Webcast presentation 

The results will be presented online today at 10:00 AM CET via livestream
accessible at https://www.cambi.com/investors/livestream/.  

Questions can be emailed to Investor Relations at investor@cambi.com before and
during the event and will be answered live after the presentation. A
presentation recording will be accessible on the website.  

The complete report and slides can be found on Cambi's website
(https://www.cambi.com/investors/reports-and-presentations/) and NewsWeb
(https://newsweb.oslobors.no/). 
 

For more information, please contact:  

Eirik Fadnes, CEO, +47 907 20 014, eirik.fadnes@cambi.com 

Mats Tristan Tjemsland, CFO, +47 920 67 094, mats.tjemsland@cambi.com  

 

 

About Cambi: 

Cambi is a global biogas technology and solutions supplier for wastewater
treatment plants and anaerobic digestion facilities. Since 1992, Cambi has
retained market leadership through continuous innovation and a robust portfolio
of proven and patented technologies. With strong project delivery and customer
support capabilities, the company has delivered well-performing installations in
27 countries across the globe. 

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 such as
drying, pyrolysis, and incineration. Thermal hydrolysis is compatible with all
sludge and waste treatment regulations and easy to integrate at new and existing
anaerobic digestion sites. 

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

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