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Third quarter 2025
- Order intake up 5.2% at NOK 1,002 million (952)
- Total revenue and other operating income down 3.8% at NOK 1,075 million (1,117)
- Adjusted EBITA down 14.1% at NOK 185 million (215)
- Adjusted EBITA margin at 17.2% (19.3%)
- Net cash flow from operating activities at NOK 121 million (194)
Year to date 2025
- Order intake up 10.3% at NOK 3,483 million (3,158)
- Total revenue and other operating income at NOK 3,308 million (3,320)
- Adjusted EBITA up 2.7% at NOK 509 million (496)
- Adjusted EBITA margin up 0.5 percentage points to 15.4% (14.9%)
- Net cash flow from operating activities at NOK 277 million (408)
- Reduced leverage at 2.6x (3.0x)
GLX Holding AS, the parent company of Glamox AS, today announced its results for the third quarter of 2025. It reported solid results, with growth in order intake and sustained profitability with an adjusted EBITA margin of 17.2%. The company continued to grow in connected lighting and expanded its digitalisation initiatives.
The Glamox Group’s order intake increased 5.2% to NOK 1,002 million (952), up 10.3% for the year to date. Total revenue and other operating income in the quarter decreased by 3.8% to NOK 1,075 million (1,117), mainly due to ongoing softness in the market for the construction of non-residential buildings in its Professional Building Solutions division and project timing and delivery schedules in its Marine, Offshore & Wind division. Adjusted EBITA was down 14.1% to NOK 185 million (215), reflecting lower revenues and changes in the product and customer mix across both divisions. Meanwhile, the adjusted EBITA margin remained healthy at 17.2% (19.3%).
Astrid Simonsen Joos, Group CEO of Glamox, commented: “The third quarter was characterised by a solid performance in a mixed market environment. We saw a healthy increase in our total order intake, driven by strong growth in our Marine, Offshore & Wind division and a return to positive momentum in our Professional Building Solutions division. We also saw expansion in our connected lighting solutions.
“Major wins in our Marine, Offshore & Wind division largely drove growth in our order intake. Notable announcements in the period included a contract to light the wind turbine foundation platforms of Hornsea 3, the world’s largest single offshore wind farm and licensing contracts to light three destroyers for the Royal Canadian Navy. Meanwhile, our Professional Building Solutions division returned to positive momentum, supported by solid retrofit activity with Germany, Sweden, and Denmark leading the way.
“There was strong execution of our digitalisation programmes, including the further rollout of the myGlamox customer self-service portal, which offers customers more choice and improves the customer experience.”
Please click here for the full GLX Holding AS interim report for the 3rd quarter 2025.