Oslo, 19 November 2025 - For Vow ASA ("Vow" or the "Group"), the third quarter
2025 was characterised by high activity across the Group with all-time high
revenue in the Maritime Solutions segment. During the quarter, a profit
improvement program was launched, and a process of revisiting the strategy has
been started, with a particular emphasis on the Industrial Solutions segment.
In the third quarter, Vow had revenues of NOK 214.3 million, representing a
decline of NOK 53.1 million from Q3 2024. While the Maritime Solutions and
Aftersales segments continued their growth trajectory, the progress was offset
by negative revenue in the Industrial Solutions segment, as explained in a stock
market announcement on 20 October 2025.
EBITDA adjusted for non-recurring costs of NOK 2.8 million related to management
changes was negative NOK 28.5 million, down from a profit of NOK 18.4 million in
Q3 2024. It was heavily impacted by the performance in the Industrial Solutions
segment.
At the end of the quarter, total order backlog was NOK 1.449 billion, up from
NOK 1.103 billion one year earlier. The order backlog provides good visibility
and includes signed contracts extending up to and including 2032.
Significant inflows from trade receivables in the quarter was used to repay
debt. Large upcoming milestone payments are expected to further improve
liquidity in the fourth quarter.
"The third quarter was characterised by high activity, a revisit of our
strategy, and continued efforts to strengthen our understanding of both the
company and our markets. We see significant opportunities to strengthen
financial performance, and a profit improvement program has been launched to
reduce our cost base and drive operational efficiency. Several initiatives are
already underway," says CEO Gunnar Pedersen.
"Going forward, we will reinforce our efforts in Maritime Solutions and
Aftersales and take a more selective approach with regards to prospects and
contract formats in the Industrial Solutions segment, with the aim to reduce
risk exposure and better align with market demand," Pedersen adds.
Attached is the report for the third quarter and the presentation material.
CEO Gunnar Pedersen and CFO Cecilie Brænd Hekneby will present the results today
at 09:00 CET. Participants are welcome to join the event at Haakon VII's gate
2, 0161 Oslo, or to follow the event via webcast.
Please use the following link to register for the webcast:
https://channel.royalcast.com/landingpage/hegnarmedia/20251119_1/
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
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 recycling. 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 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).
This is information is pursuant to the EU Market Abuse Regulation and subject to
the disclosure requirements pursuant to Section 5-12 the Norwegian Securities
Trading Act.