21.4.2021 08:26:04 CEST | Nordic Unmanned | Annual financial and audit reports

Sandnes, 20th of April 2021 - Nordic Unmanned today published its Annual Report for 2020.

Highlights:

  • Group revenues NOK 66.3 million (+108%)
  • Group EBITDA NOK 2.6 million, first time positive
  • Group net profit NOK 2.6 million after positive changes in deferred tax assets
  • 781 flight hours (+221%)
  • First hydrogen powered drone flight in Scandinavia
  • First cargo delivery by drone to offshore oil and gas installation in full production
  • Raised NOK 99 million of new equity and listed as first drone operator in Europe

Nordic Unmanned CEO Knut Roar Wiig comments:

“2020 was the breakthrough year for Nordic Unmanned. In short, we entered 2020 as a small, unprofitable, little known company. We finished 2020 as a profitable, rapidly growing, listed company with a substantial public footprint, a strong balance sheet and cash at hand. What a year it has been!

“Looking ahead, I am even more optimistic than I was when we first played around with the idea of setting up Nordic Unmanned. Firstly, I continue to see tremendous advantages in the growing use of drones in various roles. Drones are safer, less expensive and better for the environment than helicopters or planes.

 “Secondly, we're not alone in seeing these advantages, and the market is growing rapidly. The European drone market is expected to double from 2020 to 2025, and we see similar growth rates in other regions. We will make sure to keep our growth rates at a higher rate than the market growth, and while Europe continues to be our home market and main focus, we will also start entering markets outside Europe in 2021, focusing on the US and Middle East.

“Thirdly, Nordic Unmanned has never been stronger and better positioned to take advantage of this market opportunity. We have a leading position in the European market, with first-class public and private customers as well as industry partners. And being listed and well capitalized, we are in an excellent position to drive growth, both organically and through targeted M&A activities.”

The report is attached and available here: https://nordicunmanned.com/investor-relations/reports-presentations/

Note that the figures in this release refers to the group. The figures reported in connection with the fourth quarter 2020 report were for the parent company. The annual report contains both sets of figures.

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, Oslo, and Frankfurt, and has quickly become one of Europe’s leading providers of unmanned systems and services, with operations across the continent.The company is ISO 9001-2015 certified by DNV-GL for the operation, maintenance and sales of unmanned systems and sensor technology.

For more information visit nordicunmanned.com

Attachments

  • Annual Report 2020.pdf

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