The decline was driven primarily by divestiture of the Augusta lower open market sales, foreign exchange headwind.
despite the substantial increase in revenue and earnings, the company’s net income margin slightly declined to 5.0%.
The surge in revenue was largely driven by the acquisition of Titan Holdings I (Eviosys) in December 2024.
Operating earnings jumped to NOK 489 million (US$47.2 million).
This improvement primarily resulted from higher prices, alongside increased volumes, favourable foreign exchange rates.
Net sales for the three-month period ending 31 March 2025 rose to US$2.14 billion, up from US$1.98 billion in the same quarter last year.
The company reported total sales volumes of 173,167 tonnes, with normalized EBITDA reaching R344 million (US$18.95m)—down from R486 million (US$26.78m) in the previous year.