The earnings call presented a mixed outlook with significant improvements in the Maritime Solutions and Aftersales segments, buoyed by a strong order backlog and enhanced liquidity through improved debt collection. However, these positives were offset by substantial challenges, including accounting errors leading to covenant breaches, declining Industrial Solutions performance, and increased costs, resulting in a complex financial situation.
Company Guidance
During the second quarter presentation for fiscal year 2025, Vow's CEO Gunnar Pedersen highlighted a 9% growth on the top line within the Maritime Solutions segment and improved margins in both the Maritime and Aftersales segments. However, the Industrial Solutions segment faced challenges, with revenue down by 5% and increased commissioning costs impacting profitability. The company reported an order backlog of NOK 1.4 billion, including NOK 259 million in options. The CFO, Cecilie Hekneby, addressed issues from the first quarter, including an NOK 16 million error in internal margin elimination, which was corrected and restated, as well as a NOK 35 million catch-up effect on gross profit impacting Q2 results. In response to these challenges, Vow has initiated a profit improvement program aimed at strengthening cost control and enhancing operational efficiency. Despite the company's breach of financial covenants due to these adjustments, Vow secured a covenant waiver from DNB and is working on improving liquidity and financial performance.
Positive Growth in Maritime Solutions and Aftersales
Maritime Solutions segment reported a 9% growth in the top line and improved margins. Aftersales segment continued its positive development with an 8% increase in revenue and improved EBITDA margin from 8% to 17%.
Strong Order Backlog
The company maintains a robust order backlog of NOK 1.4 billion, with NOK 259 million in options, providing good visibility into future operations.
Improved Debt Collection
Post-Q2, improved debt collection processes have reduced overdue receivables by more than 50%, enhancing the company's liquidity.
Successful Commissioning and Delivery
Commissioning of 10 vessels in 2025, with equipment delivered to 18 newbuilds, showcasing operational success in the Maritime Solutions segment.
Vow ASA (SSHPF) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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.
Beat
Missed
SSHPF Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Aug 28, 2025
$0.16
$0.16
0.00%
Feb 27, 2025
$0.14
$0.14
0.00%
Aug 29, 2024
$0.39
$0.39
0.00%
Feb 29, 2024
$0.67
$0.67
0.00%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Vow ASA (SSHPF) report earnings?
Vow ASA (SSHPF) is schdueled to report earning on Feb 26, 2026, TBA (Confirmed).
What is Vow ASA (SSHPF) earnings time?
Vow ASA (SSHPF) earnings time is at Feb 26, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.