Nordic Unmanned today announced fourth quarter results showing record revenues and strong underlying profitability. The company expects the positive trend to continue in 2021.
“Our fourth quarter results demonstrate that Nordic Unmanned has entered a new phase. We have reached a size that makes us profitable and provides a foundation for further profitable growth. Our operational results confirms the strong upswing in activity from large governmental clients. Through our dedicated team, we have been able to keep operations active despite restrictions related to Covid-19 such as travel, testing and quarantining, and we have experienced an increase in drone solutions being implemented.” says
Revenues in the fourth quarter amounted to
Nordic Unmanned's operations continued to expand. The company performed 326 flights during the quarter, an increase of 100 percent compared to the same quarter one year earlier. Nordic Unmanned continues to hire pilots and maintenance personnel with experience from the manned aviation industry, to cover for the increase in operations.
The contract backlog at the end of the quarter was
The company continued its development of innovative technologies. In
During the fourth quarter, Nordic Unmanned carried out a private placement raising
“The European drone market is expected to grow from approximately
Nordic Unmanned expects revenue growth to accelerate in 2021, with an adjusted EBITDA margin approximately in line with the fourth quarter of 2020.
The fourth quarter 2020 presentation is enclosed and will be livestreamed at
Disclaimer
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Knut Roar Wiig , CEO, +47 92 66 66 59, krw@nordicunmanned.com
About Nordic Unmanned
Nordic Unmanned delivers comprehensive data solutions through industry leading expertise, to assist both public and private customers in the transition to unmanned technology. The focus is to support demanding clients by collecting time-critical data with the use of unmanned technology.
Founded in 2014, the company has offices in Sandnes,
For more information visit nordicunmanned.com
Attachments
- Download announcement as PDF.pdf
- Nordic Unmanned Q4 2020.pdf
© NTB Norway, source