EBITDA impacted by the ongoing investments and one-offs (extraordinary provisions for losses on accounts receivables, restructuring and reorganization costs and advisory costs Avanti Engineering)
Experiencing increasing demand within our core business, supported by strong order intake
Strengthened strategic focus on automation, digitalization and robotics, sold panel board workshop to Bergen Elektrokompetanse AS
Growth strategy supported by new company profile and marketing strategy
Group management strengthened
New CFO started 06.12.2021
After sales director starts 01.04.2022
Segment update
Digitalization
Automation
Robotization
Environmental systems
Significant investment in digitalization experienced. Innovation labs in Karlstad and Oslo established. Cyber security personnel hired
Satisfactory enquiry level in the market, but delay in capital investments. Several pilot projects. Expecting growth in order reserve
Expecting growth in order reserve. Restructuring and expanding organization with project mgmt. expertise. Handover of largest water treatment plan in Norway
Major contract wins in the quarter
Goodtech electrifies ferry exchange
Between Drag-Kjøpsvik and Bogenes-Skarberget
Contract size:
20 MNOK
Customer:
Goodtech value-add:
Large footprint reduction
Cost saving
HVDC Expansion project
Collaboration with MSH for Nexans Norway
Contract size:
27 MNOK
Customer:
Goodtech value-add :
Smart factory
Cost saving
Order book development*
Åland
Norway
Sweden
MNOK
Growth: +27,3%
296
280
44
255
244
80
232
224
225
211
35
87
61
185
103
37
84
46
184
113
146
205
143
123
136
120
124
60
52
43
24
25
27
20
17
11
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
2019
2020
2021
Backlog projects normally account for ~50% of annual revenues. Engineering services, support functions and other income partly included in backlog
Avanti Engineering AS acquired in Q3 2021 included from September 2021
Sweden
Karlstad especially experienced decreasing order book during Q4, caused by delayed key tendering processes and key customers considering COVID-effects before year-end
Major increase in opportunities and submitted tenders after Q4 2021 - expected to impact order book for next quarter
Norway
Growing order book in Norway caused by several major contract wins (among which Kystnett and MHS)
Increased demand for FEED-studies investigating automation potential and production process robotization
Several industrial and processing segments demanding SCADA upgrades and factory automation
Customers continue to demand assistance moving data to cloud-based solutions, which comes with increased demand for cyber security services as well
Åland
Promising order book for key customers in Sweden
Experiencing high demand for services in all segments -biogas, water treatment and water purification
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Goodtech ASA published this content on 25 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2022 08:41:03 UTC.
Goodtech ASA is a Norway-based technology and engineering company active within the fields of automation, power and environmental technology. The Company is a supplier of automation projects, it delivers technology and customized solutions for streamlining production, material handling, warehousing and logistics. Goodtech offers robotic packaging solution with a variety of different robot sizes and types. It also deliveries projects to industrial customers e.g., construction of transformer stations up to 132 kV. The Company is also engaged in the provision of products and tailor-made solutions for wastewater treatment, water purification and recycling of industrial water. Goodtech ASA has several subsidiaries, including Goodtech Solutions AB, Avanti Engineering AS and Goodtech Environmental Solutions AB.
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