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M Vest Water (MVW) investor relations material
M Vest Water Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Chemical sales and revenues increased by 33% year-over-year in Q3 2025 and 79% year-to-date, driven by strong aquaculture performance and expansion in oil & gas and dredging markets.
Completed a private placement at a 25% premium, raising NOK 8 million and converting NOK 12.6 million in shareholder loans, strengthening equity.
Sensor-based water treatment technology delivered high purification efficiency and stable operations, supporting compliance with new EU discharge regulations.
Secured new and follow-up orders in aquaculture, oil & gas, and dredging, including a long-term trial with METHA in Germany and commercial contracts in the Middle East.
Maintained strong market position in salmon slaughterhouse solutions, with robust performance and high efficiency.
Financial highlights
Q3 2025 revenues reached NOK 6.9 million (up from NOK 5.3 million in Q3 2024); year-to-date revenues totaled NOK 19.3 million (up from NOK 18.0 million YTD 2024).
EBITDA for Q3 2025 was negative NOK 3.5 million, improving from negative NOK 5.1 million in Q3 2024.
EBIT for Q3 2025 was negative NOK 4.3 million, an improvement from negative NOK 5.9 million in Q3 2024.
Net loss for Q3 2025 was NOK 4.8 million, improving from NOK 6.0 million in Q3 2024.
Cash flow from operations for Q3 2025 was negative NOK 3.2 million, a significant improvement from negative NOK 8.1 million in Q3 2024.
Outlook and guidance
Several pilot projects and full-scale trials are planned for the coming quarters, with a focus on securing long-term contracts and expanding recurring revenue.
Strong growth expected in the salmon slaughterhouse segment as EU compliance deadlines approach, targeting 70% market share in Norway.
Confident current capital is sufficient to support ongoing projects and tender portfolio, with an opportunistic approach to future funding.
Dredging segment advancing to commercial negotiations and business expansion.
Oil & Gas segment pursuing long-term contracts and portfolio expansion in the Middle East, GCC, and USA.
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