M Vest Water (MVW) today published the financial results for the first quarter
of 2026.
Highlights:
* Total revenues for Q1 2026 amounted to NOK 5.8 million, up from NOK 4.3
million in the same period last year, representing YoY growth of 35%.
* Purchase order from Downstream Marine for the delivery of a flotation unit
to a Norwegian salmon slaughterhouse, operated by one of the major global
seafood companies.
* Aquaculture represents a profitable standalone business segment, with strong
visibility into future earnings. MVW has a goal of reaching an annual
turnover of NOK 100-150 million from this industry during 2028-2030.
* Based on current projects and our existing order book, baseline annual
revenues are projected to exceed NOK 30 million in 2026. This outlook is
expected to strengthen further, supported by ongoing tender activity and
strong demand for our solution from both new and existing customers.
* The previously announced pilot project for a major oil producer in Saudi
Arabia planned to be completed in Q1 2026, has been put on hold pending the
stabilization of the geopolitical situation in the Middle East.
* The paid long-term pilot at the large-scale dredging plant METHA in Hamburg
started in Q4 2025 but was paused by the operator due to the need for
substantial refurbishment of the plant's existing dewatering equipment. The
pilot is scheduled to resume in May and will run throughout Q2 2026.
* MVW Bergen moved in April. Our new premises provide additional production
and storage capacity, supporting the increased level of activity.
The Executive Chairman, Tor Olav Gabrielsen, comments "In the first quarter of
2026, revenues increased by 35% year-over-year. Based on current project
execution and our existing order book, we project baseline revenues for 2026
to exceed NOK 30 million. We expect this outlook to strengthen further as the
year progresses, supported by ongoing tender activity and rising demand from
both existing and new customers. MVW is confident that our patented, proven
technology, combined with a scalable, capital-light business model, positions
us well to capture growth as industries invest in water treatment, reuse and
circular solutions."
Executive Chairman Tor Olav Gabrielsen and CFO Morten Hilton Thomassen will
present the company's results today on Tuesday, May 12th, 2026, at 10:00 CET,
and invite investors, analysts, and other stakeholders to join the
presentation.
Register for the presentation by using the following link:
Microsoft Virtual Events Powered by Teams
(https://events.teams.microsoft.com/event/6a82d4d0-a5e5-4506-87b9-34ff2d06372f@c288c771-c0e2-4e8c-b1ef-7e1ca1e5d216)
Expected duration: 30-45 minutes including Q&A.
The recording of the webcast and the presentation material will be published
on MVW's website afterwards.
Contact
For further information, please contact:
Morten Hilton Thomassen, CFO
mht@mvestwater.com
+47 92 25 85 70
About Us
M Vest Water is an environmental technology company which has developed unique
products and solutions to the water treatment industry, both Industrial as
well as the Municipal markets. The products are non-toxic, biodegradable and
without any harm to the environment. It obtains the highest degree of
purification in a cost-efficient arrangement.
M Vest Water is listed on Euronext Growth under the ticker MVW.
For more information, visit www.mvestwater.com.
This information has been submitted pursuant to the Securities Trading Act ยง
5-12 and MAR. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-05-12 07:00 CEST.