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Hav Group (HAV) investor relations material

Hav Group Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary27 Aug, 2025

Executive summary

  • Achieved Q2 2025 revenue of NOK 193.3 million, with EBITDA improving to NOK 4.1 million and positive net profit, driven by strong performance in Energy Design & Smart Control Systems.

  • Order intake reached NOK 215 million in Q2 2025, with a book-to-bill ratio of 1.11 and an order backlog of NOK 1,288 million at quarter-end.

  • Cash balance more than doubled year-over-year to NOK 293 million, reflecting robust operating cash flow.

  • Strategic downscaling and realignment of hydrogen-based energy systems executed, with annual cost savings of NOK 10 million expected and IP retained for future opportunities.

  • Formalized collaboration with Havila Voyages for next-generation coastal route ships and secured new contracts for water purification and navigation systems.

Financial highlights

  • Q2 2025 operating income was NOK 193.3 million, EBITDA at NOK 4.1 million (2.0–2.1% margin), and net profit of NOK 1.9–2.0 million, all improved from Q2 2024.

  • H1 2025 revenue increased by 6.5% year-over-year, with improvements in all main financial KPIs.

  • Cash flow from operations was strong, with NOK 52–54 million generated YTD 2025.

  • Total liabilities increased to NOK 648.5 million, mainly due to higher advance payments from customers.

  • Equity ratio decreased to 11.7% at Q2 2025, with total assets rising to NOK 734.5 million.

Outlook and guidance

  • Solid revenue growth and margin improvements are expected in H2 2025, driven by recent contract awards and active tendering.

  • Turnover is projected to increase in the second half of 2025, with Q4 anticipated as the strongest quarter.

  • Market outlook remains stable despite geopolitical and tariff headwinds, with main exposure in European and Norwegian markets reducing risk.

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Frequently asked questions

HAV Group ASA, through its subsidiaries, provides technology and services for maritime and marine industries worldwide. The company offers ship repairing, conversion, and recycling services. It also provides other products and services comprising dry-docking, equipment and machinery sales, contracts, shipbuilding engineering, survey work and consultancy, container handling systems (concessions), container repair (concessions), vessel management services, oil spill response equipment, fenders for offshore rigs (concessions), dredging activities (concessions), technical documentation cooperation (concessions), oil spill response equipment leasing program (for customers in the fishing industry) utilizing a fleet of vessels to provide 24-hour emergency response across the North Sea and surrounding waters.

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