Fosnavåg, 21 November 2025: HAV Group ASA (OSE: HAV) delivered significantly improved revenue and EBITDA-result in this year’s third quarter. Revenue ended at NOK 193.7 million, a 44 percent increase from the same quarter last year (134.8). EBITDA* improved to NOK 1.5 million from NOK -24.8 million last year.
HAV Group’s order intake was NOK 171 million in the third quarter (70), driven by new contracts in the energy design and smart control systems business. At the end of September, HAV Group’s order backlog stood at NOK 1,266 million (1,322).
…
Vis børsmeldingen
“We deliver considerably improved numbers compared to the third quarter last year, and the fourth quarter in a row with positive EBITDA-result. Our energy design and smart control business is the big positive, while we are working hard to improve our performance in our other business areas,” says Gunnar Larsen, CEO of HAV Group.
HAV Group’s energy design and smart control systems business is currently the group’s main driver of revenue, profitability and order intake. The business area won two important contracts with Tersan Shipyard in Turkey during the third quarter and has won a contract with Fitjar Mekaniske Verksted subsequent to the end of the quarter.
Both HAV Group’s water treatment business and ship design business delivered negative EBITDA numbers in the third quarter. Encouragingly, the water treatment business continues to win work in the aquaculture industry, with another project win announced on 13 November 2025. The financial results of HAV Group’s ship design business are still negatively impacted by low workforce utilisation.
HAV Group reported revenue of NOK 193.7 million (134.8) in this year’s third quarter. EBITDA was NOK 1.5 million (-24.8), with a net profit of NOK -4.2 million (-19). HAV Group maintains a strong balance sheet with a cash balance of NOK 271 million (148.8) and interest-bearing debt of NOK 1 million as of 30 September 2025.
OUTLOOK
The green transition, stricter regulations, and increasing competition continue to shape the maritime industry. HAV Group is well positioned to address these challenges with technology that enhances vessel operations, profitability, and environmental performance.
While geopolitical uncertainty and tariff issues create headwinds, the global shipbuilding market is predicted to remain at a stable level in the coming years. HAV Group’s main market presence in the European and Norwegian markets reduces exposure to transcontinental trade conflicts.
HAV Group expects that Q4 will be the strongest quarter in 2025. The positive development seen in 2025 is expected to continue in 2026, driven by contract wins with corresponding margin improvements.
Q3 2025 PRESENTATION
HAV Group will present its third quarter 2025 financial results via webcast today at 08:00 CET. The presenter is Gunnar Larsen, CEO.
Link to webcast: https://www.youtube.com/live/bAvgGLBpavs
Questions can be submitted during the webcast. However, questions submitted in advance via the link will have better chance of being answered. Questions can be submitted through this URL: HAV group Q 2025 - Mentimeter
The presentation material and third quarter report are enclosed to this announcement.
*EBITDA and other alternative performance measures (APMs) are defined and reconciled to the NGAAP financial statements as a part of the APM section of the annual report.
(ENDS)
For additional information, please contact:
Gunnar Larsen, CEO
gunnar.larsen@havgroup.no
+47 901 05 694
About HAV Group | www.havgroup.no
HAV Group and its subsidiaries (together: “HAV Group”) is an international provider of technology and services for maritime and marine industries. HAV Group has several decades of industry experience, in addition to special expertise in guiding the marine and maritime industries through the green shift and towards the goal of zero emissions. HAV Group ASA is listed on Euronext Growth under the ticker code HAV.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Daniel Kopperstad, Head of Legal Affairs, on 21 November 2025 at 07:00 CET.
Kilde
