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Hav Group (HAV) investor relations material
Hav Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary21 Nov, 2025
Executive summary
Q3 2025 revenue increased 44% year-over-year to NOK 193.7 million, with EBITDA turning positive at NOK 1.5 million, marking the fourth consecutive quarter of positive EBITDA.
Order intake reached NOK 171 million, maintaining a robust order backlog of NOK 1,266 million as of September 30, 2025.
Energy design and smart control systems delivered strong results, while ship design and water treatment segments underperformed expectations.
Cash position stood at NOK 271.4 million, reflecting a solid financial position.
Profit before tax improved to NOK -4.2 million from NOK -19.0 million year-over-year.
Financial highlights
Operating income for Q3 2025 was NOK 193.7 million, up from NOK 134.8 million in Q3 2024.
EBITDA improved to NOK 1.5 million (0.8%) from NOK -24.8 million (-18.4%) year-over-year.
EBIT for Q3 2025 was NOK -2.5 million, versus NOK -28.9 million in Q3 2024.
Net loss narrowed to NOK -4.2 million from NOK -19.0 million in Q3 2024.
Cash and cash equivalents at quarter-end were NOK 271.4 million, up from NOK 21.0 million a year earlier.
Outlook and guidance
Q4 2025 is expected to be the strongest quarter of the year, with continued positive momentum into 2026.
Margin improvements and growth anticipated, especially in energy design and smart control systems.
The company is well positioned to benefit from global green transition trends and stricter maritime regulations.
What led to the HAV Hydrogen strategy shift?
How to reverse the declining equity ratio?
What sustains Energy Design's strong performance?
Ship design turnaround timeline?
HAV Hydrogen re-activation conditions?
Q2 negative cash flow driver?
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Q4 202513 Mar, 2026
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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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