Corporate governance

Cambi ASA is committed to transparent, ethical, and effective corporate governance. Guided by the Norwegian Code of Practice, our policies ensure accountability, sustainable value creation, and trust with our shareholders, partners, and communities.

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Group 15

General meetings

The General Meeting is Cambi ASA's highest decision-making body. Shareholders registered in the Norwegian Central Securities Depository (VPS) as of the registration date can propose matters to be considered by the General Meeting, participate, and vote in person or by proxy.

The General Meeting approves key items, including board elections, annual accounts, and dividend proposals.

The annual general meeting is held annually before 30 June. The notice and supporting documents will be available below in due time.

 

2025 2024 2023 2022 2021
02.05.2024 Annual general meeting 2024

Cambi ASA held its annual general meeting 2024 at the firm's headquarters in Asker, Norway.

25.10.2024 Extraordinary general meeting

Cambi ASA held an extraordinary general meeting at the firm's headquarters in Asker, Norway.

10.05.2023 Annual general meeting 2023

Cambi ASA held its annual general meeting 2023 at the firm's headquarters in Asker, Norway.

29.09.2023 Extraordinary general meeting

Cambi ASA held an extraordinary general meeting at the firm's headquarters in Asker, Norway.

11.05.2022 Annual general meeting 2022

Cambi ASA held its annual general meeting 2022 at the firm's headquarters in Asker, Norway.

20.12.2022 Extraordinary general meeting

Cambi ASA held an extraordinary general meeting at the firm's headquarters in Asker, Norway.

10.05.2021 Annual General Meeting 2021

Cambi ASA held its Annual General Meeting 2021 at the firm's headquarters in Asker, Norway.

Board of Directors

The Board of Directors oversees Cambi's operations, management, and strategic direction, focusing on sustainable growth. Its primary goal is to create long-term shareholder value while ensuring Cambi meets its responsibilities.

Andreas Mørk
Chair of the Board
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Birgitte Judith Sandvold
Board Director
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Vibecke Hverven
Board Director
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Ragnhild Lund-Johansen
Board Director elected by the employees
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Advisory Board

Cindy Wallis-Lage
Advisory Board Member
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Glen Daigger
Advisory Board Member
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Jean-Michel Herrewyn
Advisory Board Member
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Management

The executive management team oversees Cambi's daily operations, ensuring the effective execution of the company's business activities and strategic goals.

Per Lillebø
Chief Executive Officer
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Mats Tristan Tjemsland
Chief Financial Officer
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Lars-Petter Traa
Chief Commercial Officer
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Lluis Soler
Chief Operations Officer
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Andreas Lillebø
Chief Technology Officer
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Martine Opstad Sunde
Chief People & Culture
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Peder Lillebø
Managing Director, Cambi Solutions
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Policy documents

Cambi's corporate policy documents establish the standards and guidelines to ensure our business adheres to legal requirements, quality standards, and international conventions and aligns with our strategic objectives.

We are in the process of moving the policies from the main website's transparency section here. Meanwhile, you can find them there.

Policy
ESG
Topics
Download
Corporate governance policy
Governance
Guidelines for Cambi's corporate governance following the latest (Nues) Norwegian Code of Practice for Corporate Governance
Investor relations policy
Governance
Guidelines for Cambi's communication with the financial community
Dividends policy
Governance
Guidelines for Cambi's distribution of shareholder dividends

Articles of association

Cambi ASA is a public liability company based in Asker, Norway, dedicated to industrial development in environmental technology and products. The company's purpose includes executing environmental technology projects and investing in other companies to further its business objectives.

Financial strategy

Cambi maintains a prudent financial strategy to support long-term value creation and operational flexibility. Our approach emphasises financial stability, low leverage, and disciplined capital allocation. 

Financial priorities
Capital structure
Dividends
Currency fluctuations
Credit risk

Financial priorities

Cambi’s financial priorities include securing funding for growth, preserving liquidity, and maintaining a conservative risk profile.

Investment decisions are guided by the company’s strategic objectives and cash flow capacity.

Capital structure

The capital structure is primarily equity-based, with limited interest-bearing debt. Cambi funds its operations and investments through retained earnings and project-specific financing. There is no formal policy for issuing bonds. An overview of debt financing is provided separately.

Dividends

Cambi assesses the opportunity to pay dividends annually. The Board of Directors considers a range of factors when proposing dividends, including capital requirements, cash flow generation, financial condition, prevailing market conditions, and any legal or contractual constraints.

There is no fixed dividend payout ratio, and no assurance can be given that dividends will be proposed or declared in any given year.

Currency fluctuations

The company is exposed to currency fluctuations, as a significant share of revenues is in USD and EUR, while most costs are in NOK and GBP. Cambi mitigates this through price-adjustment clauses in contracts and cost alignment with revenue streams.

As of year-end 2024, Cambi did not engage in financial hedging. Liquidity risk is managed through disciplined cash flow planning and contract structuring, including advance payments and milestone tracking.

Credit risk

Cambi’s exposure to credit risk remains low due to a customer base mainly composed of public sector clients. The company’s risk management framework also addresses project execution, operational, and HSE-related risks, with governance protocols in place across all delivery teams​.

Financial priorities

Cambi’s financial priorities include securing funding for growth, preserving liquidity, and maintaining a conservative risk profile.

Investment decisions are guided by the company’s strategic objectives and cash flow capacity.

Capital structure

The capital structure is primarily equity-based, with limited interest-bearing debt. Cambi funds its operations and investments through retained earnings and project-specific financing. There is no formal policy for issuing bonds. An overview of debt financing is provided separately.

Dividends

Cambi assesses the opportunity to pay dividends annually. The Board of Directors considers a range of factors when proposing dividends, including capital requirements, cash flow generation, financial condition, prevailing market conditions, and any legal or contractual constraints.

There is no fixed dividend payout ratio, and no assurance can be given that dividends will be proposed or declared in any given year.

Currency fluctuations

The company is exposed to currency fluctuations, as a significant share of revenues is in USD and EUR, while most costs are in NOK and GBP. Cambi mitigates this through price-adjustment clauses in contracts and cost alignment with revenue streams.

As of year-end 2024, Cambi did not engage in financial hedging. Liquidity risk is managed through disciplined cash flow planning and contract structuring, including advance payments and milestone tracking.

Credit risk

Cambi’s exposure to credit risk remains low due to a customer base mainly composed of public sector clients. The company’s risk management framework also addresses project execution, operational, and HSE-related risks, with governance protocols in place across all delivery teams​.

Debt financing

Cambi does not currently have any listed or unlisted bond loans, and the group holds no official credit rating. Interest-bearing liabilities at year-end 2024 were limited to minor lease and equipment-related items. The company has not issued green bonds or other capital market instruments to date.

To secure performance and advance payment guarantees for long-term projects, Cambi ASA holds frame agreements with DNB Bank and Tryg Garanti. These guarantees are secured by mortgages over shares, accounts receivable, and tangible assets in Cambi Group AS, Cambi Solutions AS, and Cambi Technology AS.

Instrument

Limit (NOK million)

Drawn (NOK million)

DNB Bank – Guarantee facility

600

217

Tryg Garanti – Guarantee facility

850

240

The Norwegian legal entities are jointly and severally liable for the group’s account scheme in DNB Bank and for VAT liabilities due to group registration. There are no financial covenants of significance beyond standard commercial and project-specific requirements.

Cambi is committed to maintaining financial flexibility, and covenants under existing financing arrangements are limited to standard project-related conditions. Liquidity risk is mitigated through strong operational cash flow planning and advance client payments.

Sustainability

Cambi's goals and values align with our role in the wastewater management industry. As such, we are committed to maintaining environmentally focused growth and following the highest standards, guided by respect for people and the planet.