Vow ASA — Earnings Release 2019

Feb 26, 2020

Vow ASA : 2H 2019 report - Order Backlog climbed to NOK 890 million

Vow ASA : 2H 2019 report - Order Backlog climbed to NOK 890 million

Vow had a record-high backlog of NOK 890 million at year-end, up from NOK 700

million at 30 June 2019 and NOK 656 million one year before. Revenues in the

second half of 2019 was NOK 199 million and EBITDA before non-recurring items

came in at NOK 23.2 million, constituting a margin of 11.6 per cent.

Revenues for the full year 2019 was NOK 381 million, which is a growth of 16 per

cent compared with the previous year. EBITDA before non-recurring items was NOK

45.8 million.

"It has been a year of many milestones and great wins. We have secured several

new contracts within our traditional core cruise segment, we have expanded our

offering through the acquisition of ETIA and we have come together under a new

brand and name", said Henrik Badin, CEO of Vow ASA.

"In the second half of 2019 we confirmed our leading position within the cruise

segment with several milestone contracts, we saw increased activity and strong

performance in the aftersales life-cycle services segment and we secured several

significant contracts for land-based application in other industry verticals",

Badin added.

Please see the attached financial report for the second half of 2019 for further

details.

The company will present the results at hrs. 10:00 at MESH in Tordenskioldsgate

3 in Oslo. A light snack will be served from 09.45.

For further information, please contact

Henrik Badin - CEO

Vow ASA

Tel: +47 90 78 98 25

Email: henrik.badin@vowasa.com

About Vow ASA

In Vow and our subsidiaries Scanship and Etia we are passionate about preventing

pollution. Our world leading solutions convert biomass and waste into valuable

resources and generate clean energy for a wide range of industries.

Cruise ships on every ocean have Vow technology inside which processes waste and

purifies wastewater. Fish farmers are adopting similar solutions, and public

utilities and industries use our solutions for sludge processing, waste

management and biogas production on land.

Our ambitions go further than this. With our advanced technologies and

solutions, we turn waste into biogenetic fuels to help decarbonize industry and

convert plastic waste into fuel, clean energy and high-value pyro carbon.

Our solutions are scalable, standardized, patented and thoroughly documented,

and our capability to deliver is well proven. They are key to end waste and stop

pollution.

Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange

(ticker SSHIP, VOW from 13 January 2020). In 2018 the Vow group had annual

revenues of NOK 430 million and 120 employees in Norway, France, Poland and the

US.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.