Locations
Contacts

Thorstein Korsvold

Web & Content Manager (Corporate Press Contact)

MAIL P.O. Box 142, NO-2831 Raufoss, Norway
VISIT Enggata 37, 2830 Raufoss, Norway
EMAIL thorstein.korsvold@nammo.com
TEL +4741100055

Norway

Nammo AS

MAIL P.O. Box 142, NO-2831 Raufoss, Norway
VISIT Enggata 40, NO-2830 Raufoss, Norway
EMAIL info@nammo.com
TEL +47 61 15 36 00 (0800 - 1530)

Finance

Key figures and annual reports for the Nammo Group

About our results

The results presented here are for Nammo AS, corporate HQ and holding company for the Nammo Group. Nammo AS is a public limited company (Aksjeselskap) incorporated in Norway. The financial statements for Nammo AS have been prepared in accordance with the Norwegian Accounting Act and the Norwegian General Accepted Accounting Principles.

Contact

Thorstein Korsvold

Web & Content Manager (Corporate Press Contact)

MAIL P.O. Box 142, NO-2831 Raufoss, Norway
EMAIL thorstein.korsvold@nammo.com
TEL +4741100055

About our results

The results presented here are for Nammo AS, corporate HQ and holding company for the Nammo Group. Nammo AS is a public limited company (Aksjeselskap) incorporated in Norway. The financial statements for Nammo AS have been prepared in accordance with the Norwegian Accounting Act and the Norwegian General Accepted Accounting Principles.

Contact

Thorstein Korsvold

Web & Content Manager (Corporate Press Contact)

MAIL P.O. Box 142, NO-2831 Raufoss, Norway
EMAIL thorstein.korsvold@nammo.com
TEL +4741100055
  • 2020 Revenue (NOK) 6036 million
  • 2020 EBIT (NOK) 564 million
  • 2020 Order Stock (NOK) 9170 million

Nammo’s Revenues and growth reached all-time high levels in 2020. Revenue increased by 19%, and surpassed NOK 6 billion for the first time in company history. The Earnings Before Interest and Tax (EBIT) and the Return on Sales (ROS) values increased to record levels as well, NOK 564 million and 9.1% respectively.

The largest single market for Nammo is the USA, which represented 45 percent of total Nammo revenues in 2020 (42 percent). Net Income Before Tax (NIBT) ended at NOK 548 million, representing an increase of nearly 80 percent from 2019 (305). Net profit came in at NOK 423 million in 2020 (192).

The 2020 improvement in profitability is the result of several targeted long-standing improvement efforts and focus on operations, such as :

  • Nammo’s profitability improvement program initiated in 2018 is now delivering according to plan, along with full-year effects of reorganization in the Nordics and USA,
  • Substantially improved operational profitability in the US military and commercial businesses,
  • Strengthened internal business process control and improved internal productivity.

In addition, the successful handling of the COVID-19 pandemic during 2020 has enabled Nammo to achieve these results. Overall, these targeted activities and response to the pandemic have allowed Nammo to generate 14.5 percent Return on Equity, along with a substantial increase in company value.