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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
M Vest Water
M Vest Water (MVW) investor relations material
M Vest Water Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary15 Sep, 2026
Executive summary
Revenues for the first half of 2026 reached NOK 15.7 million, up 27% year-over-year, with Q2 revenues at NOK 9.9 million, a 22% increase from Q2 2025.
Recurring revenues from chemical sales grew by 36% year-over-year, with aquaculture as the largest and most profitable segment, accounting for 80% of Q2 revenues.
Major milestones included adding a third, largest salmon slaughterhouse to the portfolio, completing two sensor-driven technology deliveries, and a long-term pilot at METHA in Germany.
Oil & Gas segment saw increased NORWAFLOC® consumption at Norwegian facilities, but the Saudi Arabia pilot was postponed due to geopolitical instability.
International growth initiatives continue, focusing on scaling sales and expanding into new markets through partnerships.
Financial highlights
Q2 2026 revenues: NOK 9.9 million (+22% YoY); 1H 2026 revenues: NOK 15.7 million (+27% YoY).
EBITDA improved to negative NOK 1.7 million in Q2 2026 from negative NOK 2.7 million in Q2 2025.
Equity ratio at 39% at end of Q2 2026, down from 45% a year earlier.
Bank credit facility of NOK 8.0 million, with NOK 4.0 million drawn; shareholder loan facility of NOK 10.0 million, with NOK 6.0 million drawn.
Total assets at Q2 2026: NOK 62.1 million, up from NOK 48.0 million in Q2 2025, mainly due to new IFRS 16 lease recognition.
Outlook and guidance
Annual recurring revenue potential in aquaculture estimated at NOK 100–150 million by 2028–2030, with additional NOK 300–500 million in compliance investments expected.
2026 revenues expected to exceed NOK 30 million, with upside from ongoing tenders.
International growth in Dredging and Oil & Gas remains a long-term focus, despite longer lead times and lower visibility.
Growth strategy focuses on a capital-light, scalable business model leveraging expertise and technology synergies.
Cautious on providing revenue guidance for early-stage international projects due to timing uncertainty.
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Latest events from M Vest Water
- Q1 2026 revenue up 35% YoY to NOK 5.8m, aquaculture leads growth, outlook for 2026 strong.MVW
Q1 2026 - Record Q4 sales and aquaculture growth drive improved results and future expansion.MVWQ4 2025
- Q3 2025 revenue grew 33% year-over-year, driven by aquaculture and new capital raised.MVWQ3 2025
- 167% YoY chemical sales growth, strong aquaculture, and new contracts drive recurring revenue.MVWQ2 2025
- Q3 2024 revenue up 56%, driven by recurring sales and international expansion.MVWQ3 2024
- Record revenue, global expansion, and recurring chemical sales drive strong growth outlook.MVWQ2 2024
- Up to 59% YoY revenue growth, 90% recurring revenue, and major contracts drive expansion.MVWQ1 2025
- Revenue up 106% to NOK 22.7m, recurring sales and major contracts drive strong outlook.MVWQ4 2024
Next M Vest Water earnings date
Q3 202617 Nov, 2026
M Vest Water
Next M Vest Water earnings date
Q3 202617 Nov, 2026
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Frequently asked questions
M Vest Water AS is a Norwegian environmental technology company specializing in water and wastewater treatment solutions. Its products are non-toxic, biodegradable, and designed to address pollution in industrial and municipal sectors. The company’s key offerings, such as NORWAFLOC and NORWAPOL, are used to treat wastewater in industries like oil and gas, aquaculture, and municipal systems. These products focus on removing microplastics, nano-pollutants, and other contaminants from water in an eco-friendly, cost-effective manner. The company is headquartered in Bergen, Norway, and its shares are listed on the Oslo Stock Exchange.