Core Insights - Vow ASA identified a technical accounting error in its Q1 2025 report, leading to an overstatement of NOK 16 million in EBITDA, primarily affecting the Industrial segment [1] - The company anticipates a one-off EBITDA charge of NOK 30-35 million in H1/Q2 2025, which is an accounting adjustment with no cash effect [1] - The company is currently in breach of its financial covenants but is in discussions with DNB for a covenant waiver [3] Financial Summary - Total revenue for Q1 2025 was NOK 244.8 million, with contributions from Maritime (NOK 102.4 million), Aftersales (NOK 58.4 million), and Industrial (NOK 84.0 million) [2] - Gross profit for the period was NOK 60.6 million, with a gross margin of 24.8% [2] - EBITDA before non-recurring items was reported at -NOK 2.8 million, with a margin of -1.2% [2] Company Overview - Vow ASA and its subsidiaries focus on preventing pollution by converting biomass and waste into valuable resources and generating clean energy [5] - The company provides advanced technologies that enable industry decarbonization and material recovery, converting various waste types into clean energy and low carbon fuels [6] - Vow ASA is a leader in wastewater purification and valorisation of waste in the cruise market, supporting industries in transitioning towards a fossil-free future [8]