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Integrated Wind Solutions (IWS) investor relations material
Integrated Wind Solutions Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record high total revenue of €34.4m in Q1 2026, up 37% year-over-year and 21% sequentially from Q4 2025.
Group EBITDA reached €10.1m, a 92% increase year-over-year, though down 6% from Q4 2025.
Net profit was €4.9m, up 44% year-over-year but down 38% sequentially due to non-recurring tax effects and cessation of borrowing cost capitalization.
Declared a second consecutive quarterly cash dividend of NOK 1.00 per share, payable in June 2026.
ProCon (IWS Services subsidiary) merged with Hyndla, doubling contract backlog and strengthening integrated offshore wind supply chain position.
Financial highlights
Total assets stood at €429m and equity ratio at 50% as of Q1 2026.
Earnings per share for Q1 2026 was €0.08, up 33% year-over-year but down 43% from Q4 2025.
Cash and cash equivalents at quarter-end were €40.8m.
Operating expenses increased to €24.3m in Q1 2026 from €17.7m in Q4 2025.
Book equity at quarter-end was €214.2m.
Outlook and guidance
Offshore wind sector expected to maintain double-digit growth, with strong project pipeline and political support.
IWS Fleet anticipates continued high commercial utilization and solid revenue/EBIT growth in 2026, with high revenue visibility into 2027 and 2028.
IWS Services targets revenue growth and positive earnings in 2026, aiming to more than double revenues by 2030 versus 2025.
PEAK Wind expected to expand geographically and increase revenues and profit contribution.
Quarterly dividends to continue in line with policy.
- Record Q4 profit, strong fleet performance, and first dividend highlight robust growth.IWS
Q4 202525 Feb 2026 - All six vessels operational, driving strong cash flow and a €149m revenue backlog.IWS
Pareto securities 28th annual power & renewable conference presentation29 Jan 2026 - Record net profit and robust fleet performance ensure high revenue visibility for 2026.IWS
Q3 202525 Nov 2025 - Record Q2 2025 revenue and profit, strong fleet utilisation, and positive market outlook.IWS
Q2 202527 Aug 2025 - Record Q3 revenue and profit, fleet expansion, and strong growth outlook in offshore wind.IWS
Q3 202413 Jun 2025 - Revenue and profit rebounded in Q2, driven by vessel growth and Sumitomo investment.IWS
Q2 202413 Jun 2025 - Record revenue and high vessel utilization drive strong Q1 2025 results and outlook.IWS
Q1 20256 Jun 2025 - Record revenue and profit growth as fleet expands and offshore wind market accelerates.IWS
Q4 20245 Jun 2025
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Next Integrated Wind Solutions earnings date
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