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: henrik.badin@vowasa.com
Tina Tønnessen, CFO, Vow ASA
Tel: +47 406 39 556
Email: tina.tonnessen@vowasa.com
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).
Attachments
- Vow - Second Half Year 2024 Presentation (https://ml-eu.globenewswire.com/Resource/Download/895e856e-4dd8-4607-95ed-e19d8009b5d4)
- Vow - Second Half Year 2024 (https://ml-eu.globenewswire.com/Resource/Download/24208932-f383-47dc-aa10-d527b6b739f3)
