Soiltech ASA, a Norwegian provider of waste management technology, reported record quarterly revenue and profitability in the second quarter of 2026, driven by expansion in both fluid treatment and solid waste management segments.
The company’s Q2 2026 revenue reached NOK 132 million, a 17% increase from the prior-year period and a 32% rise sequentially, according to presentation materials released on August 20. Adjusted EBITDA totaled NOK 36 million, up 34% year-over-year, with the adjusted EBITDA margin expanding to 27% from 24% in Q2 2025. Profit before tax rose to NOK 18 million, equating to a 13% margin compared with 11% in the same quarter last year.
For the first half of 2026, Soiltech generated NOK 232 million in revenue, a 32% increase over H1 2025. Adjusted EBITDA reached NOK 60 million, delivering a 26% margin versus 23% in the prior-year period. Gross profit for the six months stood at 43%, improving from 38% in H1 2025. The company maintained 100% commercial uptime across its portfolio of more than 30 ongoing contracts.
Soiltech’s balance sheet showed total assets of NOK 654 million as of June 30, 2026, up from NOK 554 million a year earlier. Equity rose to NOK 292 million, lifting the equity ratio to 45% from 41%. Return on capital employed was 15%, while net interest-bearing debt to EBITDA stood at 2.12 times. Earnings per share for H1 2026 reached NOK 2.49.
Liquidity declined to NOK 170 million at the end of June, down from NOK 200 million at the start of the year, primarily due to NOK 49 million in investing activities. Post-quarter, the company increased its bank facility by NOK 150 million. Cash from operations contributed NOK 19 million during H1, while a capital increase raised NOK 23 million and debt repayments totaled NOK 23 million.
The company allocated approximately NOK 200 million to equipment investments in the first half of 2026, including orders tied to projects with major oil and gas operators. Soiltech’s fluid treatment segment generated NOK 119 million in H1 revenue, up 11% year-over-year and accounting for 51% of total revenue. Solid waste management revenue reached NOK 113 million, a 25% increase and 49% of total revenue, supported by its SmartTransfer™ product line.
Key clients include Equinor, Odfjell Drilling, Transocean, OMV Norge, and Aker BP, with operations spanning Norway, the UK North Sea, Netherlands, Romania, Saudi Arabia, and the UAE.
