Core Viewpoint - Vow ASA has successfully completed the sale of its shares in Vow Green Metals AS, receiving net proceeds of NOK 35.1 million and fully repaying a convertible loan of NOK 22.5 million [1][2][3] Financial Summary - Vow ASA received NOK 35.1 million from Midas Industri AS for 50,173,890 shares at an offer price of NOK 0.70 per share [2] - The proceeds were utilized for an additional installment on a term loan with DnB [2] - The convertible loan of NOK 22.5 million, used to finance costs related to VGM's termination with Obligo, has been fully repaid [3] Company Operations - Vow ASA focuses on preventing pollution through advanced technologies that convert biomass and waste into valuable resources and clean energy [4][5] - The company is a leader in wastewater purification and valorisation of waste, enabling industries to transition towards a fossil-free future [6] - Vow ASA holds strong positions in food safety, robotics, and heat-intensive industries with a decarbonising agenda [6]

Core Insights - Vow ASA reported revenues of NOK 260.8 million in Q1 2025, a 12.3% increase from NOK 232.3 million in Q1 2024, with an EBITDA before non-recurring costs of NOK 13.2 million, up from NOK 5.6 million in the same period last year [1][2] Financial Performance - The group experienced a negative result before tax of NOK 30.4 million, compared to a negative NOK 17.0 million in Q1 2024, primarily due to a net foreign exchange loss of NOK 12.1 million [2] - The total order backlog increased to NOK 1,532 million from NOK 1,066 million a year earlier, although it decreased from NOK 1,680 million at the start of the year [3] Market Demand and Positioning - There is a growing demand for Vow's technology and lifecycle services, particularly in the aftersales segment, driven by an increase in environmentally compliant ship operations and heat-intensive technologies [4] - Vow holds a favorable position in the cruise market and is expanding in other industry verticals, with a focus on improving operational execution and ensuring long-term profitability [5] Leadership and Strategic Developments - New CEO Gunnar Pedersen and CFO Cecilie Brænd Hekneby joined Vow in May 2025, bringing extensive industry experience to enhance operations and project execution [6] - Vow has extended the maturity of its loan facilities by 12 months to Q3 2027, with adjustments made to the covenant structure to improve financial flexibility [6]