MVW today published the Financial Results for the Second Quarter / First Half-Year of 2025

Highlights:

* Chemical sales grew by 167% compared to 2Q 2024, strengthening both margins, EBITDA and the foundation for recurring revenues.

* Aquaculture delivers profitable growth and positive cashflow. Cash expenditures are mainly related to mobilization costs for large-scale projects in Germany and the Middle East, as well as investments in our international expansion.

* Expectations of growth in order intake for NORWAFLOC® in the following periods.

* Successful qualification of NORWAFLOC® at METHA dredging sludge treatment facility.

* Contract award from a global leader in the aquaculture industry to upgrade the customer’s salmon slaughterhouse water treatment system.

* Two follow-up orders from existing customers: a second NORWAPOL® retrofit at a Norwegian oil terminal and an optimization project at SAR Mongstad, both following two years of successful operations.

* MVW signs Green De-Oiler Technology Trial Agreement with a major Oil & Gas producer in Oman.

* A major oil producer in Saudi Arabia has decided to qualify MVW's technology.

The Executive Chairman, Tor Olav Gabrielsen, comments; “To date, Aquaculture has been our primary growth driver. While total revenues for the first half year were in line with last year, chemical sales grew by 167% compared to the second quarter of 2024, strengthening both margins and the foundation for recurring revenue. Looking ahead, we have several key pilots and full-scale qualifications scheduled in the coming quarters, and we expect the Oil & Gas and Dredging segments to drive additional growth from 2026 onwards.”

Click to read the full Q2 report here.