Vow ASA: Full year and second half of 2024 results
27 February 2025 - 6:00PM
UK Regulatory
Vow ASA: Full year and second half of 2024 results
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).
- Vow - Second Half Year 2024 Presentation
- Vow - Second Half Year 2024
Vow ASA (TG:213)
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