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Vow ASA — Earnings Release 2024
Feb 27, 2025
3785_rns_2025-02-27_3b6b2eb4-91c4-4584-b533-4ad89945ed69.html
Earnings Release
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Vow ASA: Full year and second half of 2024 results
Vow ASA: Full year and second half of 2024 results
Oslo, 27 February 2025: Vow ASA (OSE: VOW) achieved revenues for the full year
2024 of NOK 1 018.2 million, corresponding to an 11 per cent increase from the
year before. EBITDA before non-recurring items was NOK 61.1 million for the full
year, compared with negative NOK 23.4 million in 2023.
"2024 marked a significant milestone for Vow, as the company exceeded NOK 1
billion in annual turnover. EBITDA showed a significant shift to positive in
2024 even if we were still burdened by low margins in legacy projects in the
cruise sector and too low revenue in industrial solutions relative to the
company's capacity within this segment," said Henrik Badin, CEO of Vow ASA.
Including contracts confirmed to date, the order backlog now stands at a record
level of NOK 1 680 million, with another NOK 258 million in options. Since
February 2024, Vow has secured cruise newbuilds and retrofit orders worth NOK
1.2 billion, confirming its track record as a preferred partner for cruise
companies in the process of renewing and expanding their fleets. ?
Building on its unique and attractive position in the cruise industry, Vow has
positioned itself and its technology in new industry verticals with significant
potential. FEED work is continuing while project owners chase the required
permits and financing, and heat solutions continue its solid performance.
Presentation
CEO Henrik Badin and CFO Tina Tønnessen will present the results on Thursday 27
February at 09:00 CET. The presentation will be held at Haakon VIIs gate 2,
Oslo. Participants are welcome to join in person or via livestream. The
streaming link will also be available for replay after the event. The session
will be held in English.
To register and join the webcast, please paste the following link into your
browser, click 'Attend' and register your e-mail:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250227_4
Please see the attached report and presentation for the second half of 2024.
For more information, please contact:
Henrik Badin, CEO, Vow ASA
Tel: +47 90 78 98 25
Email: [email protected] (mailto:[email protected])
Tina Tønnessen, CFO, Vow ASA
Tel: +47 406 39 556
Email: [email protected] (mailto:[email protected])
About Vow ASA
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).