NEKKAR ASA
Sector unknown·NKR · Oslo Børs·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Construction
End markets
DriverPositive impact: strengthens
“Nekkar’s order backlog at the end of 2024 was NOK 744 million, down from NOK 803 million at year-end 2023. This backlog is mainly related to newbuilding projects in Syncrolift.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Syncrolift ended 2024 with an order backlog of NOK 666 million. Syncrolift is experiencing general high tendering activity. The market situation for newbuild projects within Syncrolift remains promising, but Board of Directors, Nekkar ASA Chair Deputy Chair Director Director Director investment decisions for newbuild projects may still see some delays.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“With the understanding that substantial credit risks can be present, Nekkar group has taken measures to limit these risks through evaluating the financial strength of its contract partners, restricting credit and utilising mechanisms to secure payments, such as letters of credit and prepayments.”
Annual report 2024A · The company itself
Market
“The segments structure in Nekkar are as follows: Consist ofSyncrolift: The Syncrolift segment includes shiplifts, docking/transfer systems and related service activity for shipyards. The main operating entity in this segment is Syncrolift AS with its head office in Vestby, Norway. Syncrolift also has local presence in important markets through subsidiaries in the US, India and in Singapore alongside a sales/service office in Dubai and Australia.Syncrolift is the global market leader for shiplifts and transfer systems offered to repair and newbuilding yards.”
Annual report 2024A · The company itself
Market
“Syncrolift is the main business of the group. The activity in the market is depending on the construction and upgrade of navy bases and shipyards, which is suitable for the Syncrolift® shiplift systems and solutions.”
Annual report 2024A · The company itself
Chains in: Interest rates weakens, Housing market strengthens, Public investment and infrastructure strengthens, Business cycle and GDP growth strengthens, Reconstruction of Ukraine strengthens
Wind power
Technology
DriverPositive impact: strengthens
“The market outlook for the renewables industry which Nekkar is targeting with its SkyWalker tool, is promising with investment levels predicted to grow substantially in the coming years and decades.”
Annual report 2024A · The company itself
Market
“Nekkar is developing a disruptive wind turbine installation and service tool that could significantly reduce the cost and environmental footprint associated with wind turbine installations and maintenance. The solution - called SkyWalker - uses active heave compensation derived from offshore lifting systems combined with digital solutions that allows for remote-controlled and automated solutions.”
Annual report 2024A · The company itself
Market
“As of 31 December 2024 the book value of FiiZK was MNOK 82.2.The SkyWalker project, is a ground-breaking wind turbine installation and service technology tool suitable for onshore and offshore wind.”
Annual report 2024A · The company itself
Market
“Intellilift has proven commercialised technology and the products have been sold to both oil and gas related business and the wind industry, while Techano Oceanlift’s products are commercialised and have been sold to customers in the offshore renewables, offshore oil and gas, aquaculture and marine industries.”
Annual report 2024A · The company itself
Chains in: Interest rates weakens, Energy security strengthens
Chains out: this strengthens Steel, strengthens Rare earths and critical raw materials, strengthens Renewables auctions and subsidies, strengthens Power grid expansion
Oil
Raw materials and inputs
DriverNegative impact: weakens
“The offshore energy industry has been identified as high risk by the Task Force on Climate-Related Financial Disclosures, and the industry is under pressure to reduce its emissions. Although the Ukraine war and associated energy shortage in Europe has resulted in heavy investments in the offshore energy industry in the coming years, there is a long term risk of declining investment in upstream oil and gas.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“However, the software and technologies that Nekkar deliver are capable of significantly reducing drilling time and amount of personnel required offshore, thereby substantially reducing the carbon footprint associated with this type of offshore operations.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Investments in the oil and gas industry is currently at a high level and is expected to remain high in the coming years. This, coupled with a demand to reduce emissions from oil and gas developments and production, could result in increased demand for Intellilift’s products and technologies.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Intellilift continues to play important roles in developing Syncrolift’s and Techano Oceanlift’s digital platforms. Further, Intellilift’s new solutions were installed on drilling rigs and operated successfully in 2024.”
Annual report 2024A · The company itself
Market
“Techano Techano Oceanlift specializes in advanced load handling and lifting equipment for the aquaculture and Oceanliftoffshore energy industry, with products such as cranes, gangways, and fish transfer systems.”
Annual report 2024A · The company itself
Market
“Intellilift delivers industrial software solutions focused on digitalising workflows through automation and remotely-controlled systems for drilling and offshore load handling.”
Annual report 2024A · The company itself
Market
“Intellilift has proven commercialised technology and the products have been sold to both oil and gas related business and the wind industry, while Techano Oceanlift’s products are commercialised and have been sold to customers in the offshore renewables, offshore oil and gas, aquaculture and marine industries.”
Annual report 2024A · The company itself
Chains out: this strengthens Plastics and polymers
Aquaculture and fish feed
End markets
DriverPositive impact: strengthens
“For FiiZK, the aquaculture industry is seeing increased pressure to improve both fish and fjord welfare. FiiZK closed cage solutions improves this by avoiding problems with sea lice and also enables waste collection from the production process. There is substantial market interest in closed cage solutions from the aquaculture industry, particularly for postsmolt production.”
Annual report 2024A · The company itself
Market
“Techano Techano Oceanlift specializes in advanced load handling and lifting equipment for the aquaculture and Oceanliftoffshore energy industry, with products such as cranes, gangways, and fish transfer systems. Techano Oceanlift has a strong base of engineering expertise.”
Annual report 2024A · The company itself
Market
“FiiZK, is an entity that delivers closed cage systems for fish farmers. FiiZK has significant experience and track record in delivering closed cages that avoids sea lice, prevents escape and enables collection of sludge.”
Annual report 2024A · The company itself
Market
“Intellilift has proven commercialised technology and the products have been sold to both oil and gas related business and the wind industry, while Techano Oceanlift’s products are commercialised and have been sold to customers in the offshore renewables, offshore oil and gas, aquaculture and marine industries.”
Annual report 2024A · The company itself
Market
“Offshore aquaculture is another target market for Techano Oceanlift. Although there is significant potential for increased production and value creation for offshore aquaculture, operational, technological, and regulatory challenges must be overcome to realise this potential.”
Annual report 2024A · The company itself
Digitalisation
Technology
DriverPositive impact: strengthens
“Globetech operates in a market with high demand, positively impacted by increased digitalisation, and the need for secure maritime IT solutions.”
Annual report 2024A · The company itself
Market
“Intellilift delivers industrial software solutions focused on digitalising workflows through automation and remotely-controlled systems for drilling and offshore load handling.”
Annual report 2024A · The company itself
Market
“In 2024, Nekkar acquired a majority stake in Globetech AS, a fast-growing and profitable provider of maritime IT and digital services. The acquisition aligns with Nekkar’s strategy to drive digitalisation in ocean-based industries while strengthening its portfolio with a company that has a strong track record of recurring revenues and profitability.”
Annual report 2024A · The company itself
Market
“The product range includes shiplifting systems for launching and retrievals of vessels and transfer systems for a fast and reliable way of moving vessels around the yard.Intellilift The foundation of Intellilift’s business is superior engineering, electrification, automation, and digitalisation competence with heritage from “Drilling Bay” in Kristiansand, Norway. Intellilift applies this competence across the Nekkar Group as well as to external clients.”
Annual report 2024A · The company itself
Chains in: Cybersecurity (products and services) strengthens, Public investment and infrastructure strengthens
Chains out: this strengthens IT consulting and public-sector IT
Shipping and logistics
End markets
Market
“*2024 and 2027 includes revenue from Globetech and FiiZK KEY FIGURES, NEKKAR GROUP MNOK 2024 2023 2022 EBIT 81 101 57 EBITDA % 14.8% 18.9% 17.4% Order intake 474 478 277 Order backlog 744 803 824 EPS (NOK) 0.82 0.78 0.30 Revenue MNOK EBITDA MNOK 14.8% EBITDA margin Techano Oceanlift has developed a new series of offshore/subsea cranes to meet the increased demand for subsea operations and construction.”
Annual report 2024A · The company itself
Market
“The acquisition was finalised at August 15 2024. The company provides ICT (information and communication technology) infrastructure, connectivity and support services to the global maritime sector.”
Annual report 2024A · The company itself
Market
“Under Nekkar’s ownership, Globetech is positioned as a leading niche provider of maritime IT solutions, with a singular focus on vessel owners and operators. The company scales through organic growth expanding service offerings and increasing the number of vessels under long-term managed service agreements—while exploring inorganic growth through strategic acquisitions.”
Annual report 2024A · The company itself
Market
“Techano Oceanlift is exposed to the shipbuilding market for the offshore energy industries.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices weakens, Global trade volumes strengthens, Fuel strengthens
Subscription models
Technology
StrategyPositive impact: strengthens
“Intellilift’s business model is threefold – project based, perpetual upfront software licenses and SaaS revenue, depending on customer preferences.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The company serves approximately 200 vessels, combining hardware sales, installation services, recurring service subscriptions, and software licenses.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“In 2019, Nekkar initiated a project to generate more service revenues from Syncrolift’s extensive global installed base of ship lifts and transfer systems. The aging installed base provides a solid foundation for both upgrades and replacements of existing systems. This strategic effort has started to yield strong results.”
Annual report 2024A · The company itself
Cybersecurity (products and services)
Technology
StrategyPositive impact: strengthens
“The integration of Globetech creates technology and commercial synergies across Nekkar, particularly with Techano Oceanlift, while strengthening the Group’s cybersecurity capabilities.”
Annual report 2024A · The company itself
Market
“With a strong emphasis on security and compliance, Globetech is enhancing its cybersecurity capabilities to meet evolving industry regulations and protect onboard digital infrastructure.”
Annual report 2024A · The company itself
Chains in: Cyber attacks and IT security risk strengthens
Chains out: this strengthens Digitalisation
Defence industry
End markets
Market
“Syncrolift is the main business of the group. The activity in the market is depending on the construction and upgrade of navy bases and shipyards, which is suitable for the Syncrolift® shiplift systems and solutions.”
Annual report 2024A · The company itself
Market
“Syncrolift also has local presence in important markets through subsidiaries in the US, India and in Singapore alongside a sales/service office in Dubai and Australia.Syncrolift is the global market leader for shiplifts and transfer systems offered to repair and newbuilding yards. They deliver turnkey and customized solutions to commercial yards and navy bases around the world.”
Annual report 2024A · The company itself
Chains in: Defence budgets strengthens
Artificial intelligence
Technology
StrategyPositive impact: strengthens
“The research and development (R&D) activities of Nekkar are closely linked to the strategy of developing disruptive technologies that offer high sustainability impact for ocean-based industries.”
Annual report 2024A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Automation and robotics
Technology
Market
“Intellilift delivers industrial software solutions focused on digitalising workflows through automation and remotely-controlled systems for drilling and offshore load handling.”
Annual report 2024A · The company itself
Electrification
Technology
Market
“*2024 and 2027 includes revenue from Globetech and FiiZK KEY FIGURES, NEKKAR GROUP MNOK 2024 2023 2022 EBIT 81 101 57 EBITDA % 14.8% 18.9% 17.4% Order intake 474 478 277 Order backlog 744 803 824 EPS (NOK) 0.82 0.78 0.30 Revenue MNOK EBITDA MNOK 14.8% EBITDA margin Techano Oceanlift has developed a new series of offshore/subsea cranes to meet the increased demand for subsea operations and construction. The cranes may be electrified, including the winch, thereby enabling it to deliver regenerated power back to the vessel.”
Annual report 2024A · The company itself
Chains out: this strengthens Electricity, strengthens Power grid expansion, strengthens Copper
Energy efficiency
Technology
Market
“Nekkar is developing a disruptive wind turbine installation and service tool that could significantly reduce the cost and environmental footprint associated with wind turbine installations and maintenance. The solution - called SkyWalker - uses active heave compensation derived from offshore lifting systems combined with digital solutions that allows for remote-controlled and automated solutions. Nekkar’s competence within electrification, automation and digitalisation is being utilised to develop this potentially gamechanging technology.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices strengthens, EU climate and energy policy strengthens
M&A and consolidation
Macro
StrategyPositive impact: strengthens
“The enterprise value was NOK 132 million, adjusted for 2024 results, corresponding to an EBITDA multiple of 5.5x.”
Annual report 2024A · The company itself
EU climate and energy policy
Regulation
DriverMixed impact: mixed
“Nekkar develops digitalised impact technologies that aim to unlock customer value, including reduction of environmental footprint and CO2-emissions, in numerous industries including renewables, aquaculture, shipping and offshore energy. As such, climate change represents both a risk and an opportunity for Nekkar.”
Annual report 2024A · The company itself
Chains out: this strengthens Circular economy and recycling, strengthens Energy efficiency
Renewables auctions and subsidies
Regulation
DriverNegative impact: weakens
“Nekkar considers its main climate risks to be associated with the global ambition/implementation gap for the transition to more renewable energy, as well as climate policy and taxation changes that could limit or delay the adoption of Nekkar’s new technologies that are enablers to reduce the carbon footprint in the industries the company operates. This applies to both the renewables and aquaculture industries.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“However, the combination of postponement of license awards for offshore wind on the Norwegian continental shelf and the substantial dropout rate of developers who have chosen not to bid for licenses offshore Norway, has affected potential customers’ sense of urgency when it comes to investment decisions. The SkyWalker project is therefore currently on hold until partnership solutions are in place.”
Annual report 2024A · The company itself
Chains in: Wind power strengthens
Business cycle and GDP growth
Macro
DriverPositive impact: strengthens
“Expected future demand for the current product portfolio depends on the shipyards’ need to implement more efficient production lines which again depends on the general market activity. Currently there are no signs long term that the yard industry will reduce its focus on increased productivity.”
Annual report 2024A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Defence budgets
Regulation
DriverPositive impact: strengthens
“However, Syncrolift has a large number of navy customers. Increased geopolitical risk often means increased defense spending.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens, Reconstruction of Ukraine mixed effect
Chains out: this strengthens Defence industry
Global trade volumes
Macro
DriverPositive impact: strengthens
“Sales are allocated based on the customer’s country of domicile. Since revenue is project based, historic geographical allocation will not be representative for business going forward.”
Annual report 2024A · The company itself
Chains in: Tariffs and trade policy weakens, Geopolitical uncertainty weakens, Business cycle and GDP growth strengthens
Chains out: this strengthens Shipping and logistics
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“In addition, following the end of 2024 there is a global and escalating focus on protectionism, particularly through using tariffs as a mechanism to incentivize in-country production of goods and services. While the developments here are rapidly changing and final outcomes therefore unclear, this could potentially negatively impact companies with a large degree of revenues outside Norway.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
Asia and emerging markets
Geography
Geography
“Syncrolift also has local presence in important markets through subsidiaries in the US, India and in Singapore alongside a sales/service office in Dubai and Australia.Syncrolift is the global market leader for shiplifts and transfer systems offered to repair and newbuilding yards.”
Annual report 2024A · The company itself
Consumer spending
Macro
DriverNegative impact: weakens
“Increased pressure on profitability for wind farm developers and operators could also stimulate interest in more cost-efficient wind turbine installation tools such as the SkyWalker.”
Annual report 2024A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
Denmark
Geography
Geography
“The main operating entity in this segment is Syncrolift AS with its head office in Vestby, Norway.”
Annual report 2024A · The company itself
Growing middle class
Geography
DriverPositive impact: strengthens
“Syncrolift also has local presence in important markets through subsidiaries in the US, India and in Singapore alongside a sales/service office in Dubai and Australia.Syncrolift is the global market leader for shiplifts and transfer systems offered to repair and newbuilding yards.”
Annual report 2024A · The company itself
Inflation
Macro
DriverNegative impact: weakens
“While Nekkar has no business activity in either Russia, Ukraine, or Belarus, the company may be negatively affected by increased raw material prices and uncertainties in the market if the situation persists for an extended period.”
Annual report 2024A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Labour and wages
Raw materials and inputs
DriverPositive impact: strengthens
“The total number of employees in the Nekkar group was 129 at year-end 2024, compared to 92 at the end of 2023.”
Annual report 2024A · The company itself
United States
Geography
Geography
“Syncrolift also has local presence in important markets through subsidiaries in the US, India and in Singapore alongside a sales/service office in Dubai and Australia.Syncrolift is the global market leader for shiplifts and transfer systems offered to repair and newbuilding yards.”
Annual report 2024A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 0.62 bn NOK |
| Revenue growth vs. the year before, same method | 8.4 % |
| EBITDA reported by the company | 0.09 bn NOK |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | 0.82 NOK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (NOK), not converted to DKK. Quotes are shown as the company's own words in the report's original language.