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Second quarter 2025
· Order intake up 6.1% at NOK 1,178 million (1,110)
· Total revenue and other operating income down 3.6% at NOK 1,107 million (1,147)
· Adjusted EBITA down 4.9% at NOK 158 million (167)
· Adjusted EBITA margin stable at 14.4% (14.5%)
· Net cash flow from operating activities at NOK 49 million (191)
· Substantial contracts awarded in Offshore Wind, and multiple mid-sized wins in several verticals in Marine, Offshore & Wind
· Continuing demand for building retrofit projects
Year to date 2025
· Order intake up 12.5% at NOK 2,481 million (2,205)
· Total revenue and other operating income up 1.3% at NOK 2,233 million (2,203)
· Adjusted EBITA up 15.6% at NOK 324 million (281)
· Adjusted EBITA margin up 1.9 percentage points to 14.6% (12.7%)
· Cash flow from operating activities at NOK 157 million (214)
· Reduced leverage at 2.5x (3.4x)
Oslo, Norway, 21 August 2025 – GLX Holding AS, the parent company of Glamox AS, a leading lighting company, today announced its results for the second quarter and the first half of 2025. It reported solid results, with an increase in order intake driven by its Marine, Offshore & Wind (MOW) division, and maintained a stable adjusted EBITA margin as it navigated a changing market environment. The ongoing execution of Glamox’s Green Light Plan has driven continued growth in light management systems and connected lighting, along with improvements across the business.
The company’s order intake increased 6.1% to NOK 1,178 million (1,110). Total revenue and other operating income in the period decreased 3.6% to NOK 1,107 million (1,147). Adjusted EBITA was down 4.9% at NOK 158 million (167) while the adjusted EBITA margin remained stable at 14.4% (14.5%). These figures reflected strong sales in MOW but were negatively affected by softness in the newbuild construction market within Glamox’s Professional Building Solutions (PBS) division and by the timing of Easter, which fell in the second quarter this year compared to the first quarter last year. Year-to-date, Glamox increased its adjusted EBITA by 15.6%.
Astrid Simonsen Joos, Group CEO of Glamox, commented, “We continued to deliver solid results through focused execution of our Green Light Plan. We experienced strong momentum in our Marine, Offshore & Wind division, particularly in our Offshore Wind and Navy verticals. Meanwhile, our Professional Building Solutions division prioritised building renovation and retrofit markets to partly offset the continued softness in newbuild construction. It was encouraging to see sustained high demand for our smart lighting across both divisions, and our wireless light management
systems continue to gain traction with customers. Our focus on profitability, simplification, and delivering sustainable lighting solutions remains a priority.”
