Vow ASA earnings date
Vow ASA (213) Q2 2026 Earnings Report
DE:213 Q2 2026 EPS Results
- Actual EPS
- EUR 0.00
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- -EUR 0.02
DE:213 Q2 2026 Revenue Results
- Actual Revenue
- EUR 23.91M
- Expected Revenue
- EUR 21.84M
- Beat/Miss
- Beat by +EUR 2.07M
- YoY Revenue Growth
- +11.12%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 08/19/2026
- Time
- Before Open
- Conference Call
- Wednesday, August 19, 2026
Vow ASA's next earnings date is estimated for March 4, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
The call conveyed a clear operational turnaround: revenue growth, materially improved adjusted EBITDA (from -NOK 33m to NOK 32m), positive pre-tax result, stronger margins, and a healthy backlog provide a solid foundation. However, near-term challenges remain — liquidity and covenant stress tied to payment timing, soft order intake in the quarter, and commissioning delays in first-of-a-kind Circular Solution projects. Management has mitigated immediate liquidity strain (significant customer payment and a bank waiver) and emphasizes continued focus on refinancing, cash generation and profit improvement.
Guidance from the call emphasized continued improvement in profitability, cash focus and refinancing progress: Q2 revenue was NOK 253m (+11% YoY) with adjusted EBITDA NOK 32m (vs -NOK 33m a year ago) and gross profit NOK 88m (35% margin), result before tax NOK 12m, and a backlog of NOK 1.6bn (maritime backlog +NOK 250m vs Q2 2025); order intake was described as soft but the company signed ~NOK 150m in new contracts post-close and expects deliveries from those contracts in 2027–2029. Segment metrics highlighted NOK 131m maritime revenue (52% of group) with legacy contracts down to 29% (from 78% in Q2 2025), NOK 63m aftersales revenue (~25% of group) up ~6% YoY with >70 vessels on preventive maintenance, and NOK ~59m industrial revenue (circular projects progressing but with some delays). Liquidity and balance-sheet actions remain a priority: available liquidity started the year at NOK 136m and ended H1 at NOK 118m, trade receivables rose NOK 86m, overdraft usage was NOK 62m higher vs year‑end (temporary increase terminated in August), H1 loan installments NOK 29m, interest expense ~NOK 13m, net finance -NOK 6m (improved NOK 10m YoY), a covenant breach was waived by DNB post-period and refinancing of the term loan (maturing August next year) is in progress with management aiming to avoid additional equity while driving margin improvement, cash generation and portfolio prioritization.
- Revenue Growth - Q2 2026Total revenue for Q2 was NOK 253 million, an 11% increase year-on-year (up NOK 25 million). Maritime Solutions was the primary growth driver with NOK 131 million (≈52% of group revenue).
- Turnaround to Positive EBITDA and ProfitAdjusted EBITDA improved to NOK 32 million in Q2 versus negative NOK 33 million in the same period last year (improvement of NOK 65 million). Result before tax was positive at NOK 12 million.
- Improved Margins and Gross ProfitGross profit was NOK 88 million with a gross margin of 35%, up NOK 55 million year-on-year (with a NOK 35 million prior-year catch-up effect noted). Operational leverage outpaced revenue growth, supporting margin expansion.
- Strong Backlog and Maritime VisibilityOrder backlog at quarter end was NOK 1.6 billion, providing multi-period visibility. Maritime backlog was ~NOK 250 million higher than at end-Q2 2025; legacy-contract share in Maritime reduced to 29% (from 78% in Q2 2025).
- Aftersales Stable Structural GrowthAftersales revenue was NOK 63 million (≈25% of group revenue), growing ~6-7% year-on-year. Over 70 vessels are under preventive maintenance agreements, driving recurring, higher-margin business.
- Progress on Industrial and Circular SolutionsIndustrial Solutions revenue ~NOK 59 million with signs of pickup in traditional heat treatment and contracts signed late in Q2 and after the quarter. Arbion collaboration reached first biocarbon deliveries; reactors are producing and Phase 2 installation is ongoing.
- Operational and Organizational ImprovementsRecord-high delivery and commissioning activity over the last three quarters, improved delivery precision, higher customer satisfaction and better employee engagement. Profit improvement program reduced employee and other operating expenses.
- Liquidity Mitigation Actions SuccessfulA substantial customer payment (> NOK 100 million) was received in July (after quarter-end), enabling resolution of short-term liquidity strain; temporary overdraft increase was terminated in early August and a waiver was obtained from the bank after the reporting period.
DE:213 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 04, 2027 | 2026 (Q4) | ―- | -0.04 | ― | ― |
| Aug 19, 2026 | 2026 (Q2) | ―0.00 | -0.02 | 110.80% (+0.02) | |
| Feb 25, 2026 | 2025 (Q4) | 0.00-0.04 | -0.03 | -61.11% (-0.02) | |
| Aug 28, 2025 | 2025 (Q2) | ―-0.02 | 0.03 | -173.70% (-0.05) | |
| Feb 27, 2025 | 2024 (Q4) | 0.03-0.03 | -0.06 | 59.09% (+0.04) | |
| Aug 29, 2024 | 2024 (Q2) | -0.020.03 | 0 | 702.78% (+0.02) | |
| Feb 29, 2024 | 2023 (Q4) | -0.02-0.06 | 0.01 | -1085.07% (-0.07) | |
| Aug 23, 2023 | 2023 (Q2) | 0.010.00 | 0.02 | -81.91% (-0.02) | |
| Feb 23, 2023 | 2022 (Q4) | 0.010.01 | 0.01 | -15.19% (-0.00) | |
| Aug 25, 2022 | 2022 (Q2) | 0.180.02 | 0 | 804.55% (+0.02) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
