Bergen, Norway, 12 February 2026. M Vest Water (MVW) today published the
financial results for the fourth quarter of 2025.
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Highlights:
- Strong market: The industry is experiencing high tender activity and demand
due to regulatory drivers and increased water scarcity globally.
- MVW has an increasing demand for their products.
- Aquaculture is a cash positive business segment, and we expect the
development to continue as the major companies within the industry are
increasing their investments in water treatment to meet the regulatory
demands. Within the next 2-4 years we expect the market to grow to around
NOK 100 million in annual recurring revenue (ARR).
- MVW expects to secure a long-term credit facility (Convertible loan) from
its largest shareholder in case needed.
- Chemical sales grew by 44% YoY compared to 4Q 2024 (67% YTD), strengthening
both margins, EBITDA and the foundation for recurring revenue.
- Total revenues for 4Q 2025 amounted to NOK 7.2 million, up from NOK 4.7
million in the same period last year, representing YoY-growth of
approximately 53%.
- EBITDA in 4Q 2025 improved by about 34% compared to 4Q 2024.
- Purchase order from Downstream Marine for the delivery of MVW’s sensor-based
and adaptive chemical treatment technology to a newly built Norwegian salmon
slaughterhouse.
- Additional purchase order from a global leader in aquaculture. The scope
includes system upgrades to improve robustness, increase treatment
efficiency, and optimizing logistics related to the supply of NORWAFLOC®.
- The earlier announced pilot for a major oil producer in Saudi Arabia,
originally planned for June 2025, is scheduled for completion in Q1 2026 due
to the geopolitical situation in the area.
- Purchase order from METHA for the final and long-term pilot. The pilot is
expected to run throughout Q1 2026.
- Private Placement completed in October, raising NOK 8.0 million in gross
proceeds and converting an additional NOK 12.6 million in shareholder loans.
The Executive Chairman, Tor Olav Gabrielsen, comments “MVW enters 2026 with a
solid base of annual recurring revenues, with the fourth quarter of 2025
delivering our strongest chemical sales results to date. The aquaculture
segment continued to be our primary growth driver, delivering financial
results in line with expectations. Revenues from this sector accounted for
nearly 90% of total revenues in 2025. MVW has strong visibility into the
timing of upcoming water treatment requirements in the aquaculture industry.
Activity is expected to increase gradually through 2026, followed by a period
of significantly stronger growth from 2027 to 2030. MVW’s international growth
initiatives continue to represent substantial long-term value. Although
markets such as Dredging and Oil & Gas involve longer lead times and lower
visibility, MVW remains confident in the relevance of our solutions in these
markets. Our company is fully focused on the successful execution of current
and upcoming pilot projects, with the ultimate goal of converting these into
long-term contracts for our environmentally friendly technology.”
Executive Chairman Tor Olav Gabrielsen and CFO Morten Hilton Thomassen will
present the company’s results today on Thursday, February 12th, 2026, at 10:00
CET, and invite investors, analysts, and other stakeholders to join the
presentation.
Register for the presentation by using the following link:
Microsoft Virtual Events Powered by Teams
(Microsoft Virtual Events Powered by Teams)
Expected duration: 30-45 minutes including Q&A.
The recording of the webcast and the presentation material will be published
on MVW’s website afterwards.
Contacts
For further information, please contact:
Tor Olav Gabrielsen, Executive Chairman
tog@mvestwater.com
+47 924 08 607
Morten Hilton Thomassen, CFO
mht@mvestwater.com
+47 92 25 85 70
About Us
M Vest Water is an environmental technology company which has developed unique
products and solutions to the water treatment industry, both Industrial as
well as the Municipal markets. The products are non-toxic, biodegradable and
without any harm to the environment. It obtains the highest degree of
purification in a cost-efficient arrangement.
M Vest Water is listed on Euronext Growth under the ticker MVW.
For more information, visit www.mvestwater.com.
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication,
through the agency of the contact persons set out above, at 2026-02-12 07:00
CET.
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