Norway's Vow FY revenue misses expectations on weakeness in Industrial Solutions unit

Vow ASA

25/02/2026 06:15

Overview

Norway environmental solutions firm's FY revenue rises but misses analyst expectations

Adjusted EBITDA for FY turns negative compared to last year

Company revises strategy to focus on Maritime Solutions and Aftersales

Outlook

Vow aims to reinforce its position in Maritime Solutions and Aftersales segments

Company plans a selective approach in Industrial Solutions to balance risk

Cash management remains a priority in 2026 due to delivery timing

Result Drivers

MARITIME AND AFTERSALES GROWTH - High Q4 activity in cruise newbuild market and more operational vessels drove record revenues in Maritime Solutions and Aftersales

STRATEGY REVISION - Co revised strategy to focus on Maritime Solutions and Aftersales, adopting selective approach in Industrial Solutions

INDUSTRIAL SOLUTIONS CHALLENGES - Negative EBITDA in Industrial Solutions offset profitability gains in other segments, aligning with revised plans

Company press release: ID:nGNEc53bkW

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Miss
NOK 1.03 bln
NOK 1.09 bln (2 Analysts)
FY Adjusted EBITDA
-NOK 48.7 mln
FY Adjusted EBITDA Margin
-4.7%
FY EBIT
-NOK 226.4 mln
FY EBITDA
-NOK 59.2 mln


Analyst Coverage

The one available analyst rating on the shares is "hold"

The average consensus recommendation for the environmental services & equipment peer group is "buy."

Wall Street's median 12-month price target for Vow ASA is NOK10.65, about 293% above its February 24 closing price of NOK2.71

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 4 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)