Oslo, 20 October 2025: (OSE ticker: VOW) Preliminary unaudited consolidated
accounts for Vow ASA (the "Group" or the "Company") for Q3 2025 indicate a
lower-than-expected EBITDA associated with two key projects in the Industrial
segment. The positive development in the Maritime and Aftersales segments
continues, driven by strong demand, high activity, and increased margins. A
thorough review of the two major industry projects has revealed that total costs
to completion in 2026 have been underestimated. This impacts the project margins
and technical reporting of the progress of costs, and leads to reversal of
revenue in Q3 2025. The reversal of revenue has no cash impact. The preliminary
EBITDA for Q3 2025 shows approximately NOK -70 million for the Industrial
Solutions segment, and a total EBITDA for the Group of approximately NOK -33
million. The projects are in the final stages showing positive progress, and the
work to complete the projects continues in close cooperation with the respective
customers.
As stated in an earlier announcement, the Company has obtained a waiver from DNB
for the reporting period ending on 30 September 2025 and has close and
constructive dialogue with the bank. The Group has launched a profit improvement
program to further strengthen cost control, improve profitability, and increase
operational efficiency. This work continues at full speed, and the announced
revisit of Vow's strategies has commenced.
The final Q3 2025 report with more details will be released on 19 November 2025
at 07:00 CET.
For more information, please contact:
Gunnar Pedersen, CEO, Vow ASA
Tel: +47 916 30 304
Email: gunnar.pedersen@vowasa.com
Cecilie Brænd Hekneby, CFO, Vow ASA
Tel: +47 992 93 826
Email: cecilie.hekneby@vowasa.com
The information in this stock exchange announcement is considered to be
inside information pursuant to the EU Market Abuse Regulation and is published
in accordance with the disclosure requirements pursuant to section 5-12 of
the Norwegian Securities Trading Act. The stock exchange announcement was
published by Cecilie Brænd Hekneby, CFO of Vow ASA, on 20 October 2025 at 07:00
hours CEST on behalf of Vow ASA.
About Vow
Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate
about preventing pollution. The company's world leading solutions convert
biomass and waste into valuable resources and generate clean energy for a wide
range of industries.
Advanced technologies and solutions from Vow enable industry decarbonisation
and material recovery. Biomass, sewage sludge, plastic waste and end-of-life
tyres can be converted into clean energy, low carbon fuels and renewable carbon
that replace natural gas, petroleum products and fossil carbon. The solutions
are scalable, standardised, patented, and thoroughly documented, and the
company's capability to deliver is well proven.
The company is a cruise market leader in wastewater purification
and valorisation of waste. It provides technology and solutions which
enable industries to transition towards a fossil-free future by converting
biomass and waste into valuable resources and clean energy. The company also has
strong niche positions in food safety and robotics, and in heat-intensive
industries with a strong decarbonising agenda.
Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock
Exchange (ticker VOW).