Soiltech ASA reported record quarterly revenue and a 27% EBITDA margin for the second quarter of 2026, as the Norwegian oilfield services company extended its growth trajectory. Revenue rose 17% year-over-year to NOK 132 million, while adjusted EBITDA climbed 34% to NOK 36 million, according to company materials released on August 20.
The EBITDA margin expanded to 27% from 24% in the prior-year period, with profit before tax reaching NOK 18 million, representing a 13% margin compared with 11% a year earlier. Gross profit totaled NOK 55.1 million, up from NOK 38.5 million in Q2 2025, while operating costs increased to NOK 76.5 million from NOK 70.1 million. Earnings per share for the quarter stood at NOK 1.56.
First-half results showed continued momentum, with total revenue rising 17% to NOK 232 million and adjusted EBITDA up 35% to NOK 60 million. Fluid treatment revenue accounted for NOK 119 million, or 51% of the total, while solid waste management contributed NOK 113 million, or 49%. Earnings per share for the period reached NOK 2.49.
Soiltech’s balance sheet strengthened, with total assets increasing to NOK 654 million from NOK 554 million a year earlier. The equity ratio improved to 45% from 41%, and the net interest-bearing debt to EBITDA ratio stood at 2.12 times, below the covenant threshold of 3.75 times. Total available liquidity decreased to NOK 170 million by June 30 from NOK 200 million at the start of the year, though the company raised NOK 23 million in capital and increased its bank facility by NOK 150 million after the quarter.
The company’s order backlog remains robust, with approximately NOK 200 million in new equipment orders placed in the first half of 2026. Roughly half of these orders are tied to contracts starting in 2027, with an estimated payback period of about three years. Soiltech maintains over 30 ongoing contracts and reported 100% commercial uptime across all projects.
Soiltech ASA trades at NOK 88.80, up 0.23%, with a 52-week range of NOK 58.8 to NOK 93. The stock has gained 43% over the past year, reflecting strong operational execution and financial discipline.
