Norway's HAV Group Q2 revenue rises 38%, order intake drops
Norway's HAV Group Q2 revenue rises 38%, order intake drops
Overview
Norway maritime technology firm's Q2 revenue rose 38% yr/yr, EBITDA margin improved to 6.5%
Order intake for Q2 fell sharply yr/yr, but management expects improvement as tenders are clarified
Company continues previously announced strategic review process, with no guarantee of outcome
Outlook
HAV Group expects revenue growth and improved EBITDA margin in 2026 versus 2025
Company says electrification trend in maritime industry expected to grow significantly in coming years
HAV Group says EU regulations reward emission-reducing technologies, creating market opportunities
Result Drivers
ENERGY DESIGN & SMART CONTROL SYSTEMS - Co said this segment was the main driver for improved financial results, with revenue up 58% and EBITDA up 147% yr/yr
SHIP DESIGN & WATER TREATMENT SYSTEMS - Both segments had negative EBITDA; co said higher work volumes and new project wins are needed to return to profitability
CASH FLOW - Net cash flow rose mainly due to significant decrease in accounts receivables, some of which were deferred from Q1
Company press release: ID:nObiwLMPZa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| NOK 267.30 mln |
|
Q2 EBITDA |
| NOK 17.30 mln |
|
Q2 Orders |
| NOK 35 mln |
|
Reuters Recommended Reads
Aug 26 - Norway's Eqva ASA Q2 revenue rises 4.6% on acquisitions
Aug 26 - Norway's MPC Container Ships beats Q2 revenue estimates
Aug 26 - Maritime lessor SFL posts preliminary Q2 profit; declares dividend
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)