A landmark anniversary year for Cegal: 30% global growth — EBITDA margin at 21%

Cegal prepares the energy industry for AI: Solid order backlog, leading global energy companies added to the customer list 

Cegal concluded 2025 with international growth of 30%, while company revenue increased by 8%. With an EBITDA of $37.9 million and a record-breaking order backlog, the company has solidified its position as a global strategic partner for the energy sector. 

"We entered 2025 with high expectations for ourselves. Looking back at the year, we have delivered strongly across most metrics. We continue our growth with nearly 10% revenue growth, better profitability, increased cash flow, higher order intake, and improved satisfaction among both customers and employees," Dagfinn Ringaas, CEO of Cegal, starts. 

2025 marked Cegal’s 25th anniversary—a year also defined by a significant strengthening of the company’s global footprint. With 30% revenue growth outside Norway, the company has seen major breakthroughs in markets including the UK, USA, Southeast Asia, and Australia. Throughout the year, Cegal secured new contracts and entered into strategic agreements with existing clients, including Petronas, Equinor, Origin Energy, Harbour Energy, Interwell, and Å Energi. 

Ringaas continues, "2025 was the year our new strategy truly took hold. We see that customers value us as a specialised partner rather than a generic IT provider. This trust is reflected in both our revenue and profitability."

Preparing Data for Artificial Intelligence 

"Data is increasingly becoming the currency in the energy industry. However, to realise the value of AI, data must be structured, prepared, and made accessible for the models. Data is the currency. Applications are the tools that release the value," says Ringaas. 

Ringaas explains, "Business value truly accelerates when you combine generic AI technology with deep domain expertise. This is where Cegal stands out. We combine industry knowledge, industry software, leading AI technology, proprietary customer data, and relevant public data. It is this combination that allows customers to transform data into insights and concrete results more rapidly."  

Looking ahead, the Cegal CEO sees particularly significant opportunities at the intersection of data, domain expertise, and AI, believing the company is exceptionally well-positioned to navigate the ongoing AI disruption. 

"The growth we experienced through 2025 has continued into 2026. We see strong demand for our specialist expertise in AI, cloud platforms, data management, and data analytics. We are chosen as a strategic partner because of our position as the nexus bringing data, applications, and infrastructure together in the cloud," Ringaas adds. 

The implementation of improved data structures and more appropriate technology and cloud platforms has also resulted in significant IT cost reductions for several of Cegal’s clients. 

Financial Highlights 2025* 

• Revenue in 2025 reached $184.4 million, up 8% from 2024 ($170.5 million).
• International Revenue (outside Norway) grew by 30% year-on-year.
• EBITDA for 2025 ended at $37.9 million, a 6% growth from the previous year. This represents an EBITDA margin of 21%.
• Order backlog at year-end was $295.3 million, up from $257.4 million at the end of 2024. 

Growth in 2025 spanned all business areas:

• Cloud & Services: Grew by 7%, driven by upsells to existing customers and high utilisation rates.

• Software: Grew by 9%, with particularly strong performance in the Geoscience portfolio and hydrocarbon accounting solutions.

• Third-party resell: 42% growth in sales as a leading partner for Microsoft, Oracle, Nasuni, and Qumulo.