Core Insights - Vow ASA has initiated a profit improvement program aimed at enhancing cost control, profitability, and operational efficiency, alongside a strategic review [1][4] Financial Performance - In Q2 2025, Vow reported revenues of NOK 227.6 million, a decrease of NOK 25.0 million compared to Q2 2024, with a 9% increase in the Maritime Solutions segment and an 8% increase in Aftersales, while the Industrial Solutions segment saw a 5% decline [2] - Adjusted EBITDA for Q2 2025 was negative NOK 33.0 million, down from negative NOK 20.5 million in Q2 2024, significantly affected by NOK 35 million in negative catch-up effects [3] - The total order backlog at the end of Q2 2025 reached NOK 1.4 billion, an increase from NOK 1.1 billion a year earlier, providing good visibility with contracts extending through to 2033 [3] Strategic Initiatives - The company plans to revisit its overall strategy in the second half of the year, reviewing market developments and adjusting investment priorities, while maintaining healthy cruise-related operations and focusing on profitability enhancements [4] - Vow received NOK 35.1 million from the sale of shares in Vow Green Metals, which was used to repay part of a term loan, and obtained a formal waiver for covenant breaches for the reporting period ending June 30, 2025 [5] Company Overview - Vow ASA and its subsidiaries focus on preventing pollution through advanced technologies that convert biomass and waste into valuable resources and clean energy, supporting industry decarbonization and material recycling [7][8]

Company Overview - Vow ASA is a leader in the cruise market for wastewater purification and waste valorisation, providing technology and solutions that facilitate industries' transition to a fossil-free future by converting biomass and waste into valuable resources and clean energy [4] - The company operates through its subsidiaries Scanship, C.H. Evensen, and Etia, focusing on preventing pollution and generating clean energy for various industries [2] Technology and Solutions - Vow's advanced technologies enable industry decarbonisation and material recovery, converting biomass, sewage sludge, plastic waste, and end-of-life tyres into clean energy, low carbon fuels, and renewable carbon [3] - The solutions offered by the company are scalable, standardised, patented, and thoroughly documented, demonstrating a proven capability to deliver [3] Financial Update - On 15 July 2025, Vow ASA announced a restatement of EBITDA in the Q1 2025 report and an expected one-off EBITDA charge in the H1/Q2 2025 accounts, which led to a breach of financial covenants under its loan facilities with DNB [1] - Following discussions with DNB, the company has obtained a formal waiver for the reporting periods ending on 30 June 2025 [1]

Company Overview - Vow ASA and its subsidiaries, including Scanship, C.H. Evensen, and Etia, focus on preventing pollution through innovative solutions that convert biomass and waste into valuable resources and clean energy [2] - The company is a leader in wastewater purification and waste valorisation in the cruise market, providing technologies that facilitate the transition to a fossil-free future [2] - Vow's advanced technologies enable decarbonisation and material recovery across various industries, converting materials such as biomass, sewage sludge, plastic waste, and end-of-life tyres into clean energy and low carbon fuels [2] Recent Developments - Ulf Tore Hekneby, a close associate of Vow ASA's CFO, Cecilie Brænd Hekneby, has acquired 81,311 shares, increasing the total shares owned by him and his close associates to 2,351,311 [1]