Integrated Wind Solutions (IWS) Pareto securities 28th annual power & renewable conference presentation summary

Key financial metrics and performance

• Book equity stands at €207m, with total assets of €400m and an equity ratio of 52%.

• Net profit annualized for Q3 2025 is €25.4m, showing strong profitability.

• Revenue for Q3 2025 increased by 42% to €24.1m, with net profit up 142% to €6.3m.

• All six vessels are now in operation, supporting robust cash generation and no remaining CAPEX commitments.

• Board plans to initiate quarterly shareholder distributions by February 2026.

Operational highlights and fleet status

• Six vessels are fully operational, with the last delivered in December 2025.

• Recent charters commenced for IWS Starwalker, Sunwalker, and Moonwalker, achieving a full operating fleet.

• Strategic merger in IWS Services and extended frame agreement with Siemens Gamesa.

• Firm revenue backlog of €149m, covering 91% of available charter days including options.

• Revenue split is 72% from Siemens Gamesa and 28% from Dogger Bank Wind Farm.

Market environment and strategic positioning

• Offshore wind market sentiment improved in 2026 with major auctions and political support.

• Hamburg Declaration targets 100 GW of cross-border offshore wind in the North Sea.

• Company is positioned for long-term double-digit industry growth.

• Flexibility maintained through strong cash position and undrawn revolving credit facility.

• No new CAPEX commitments, enabling focus on cash generation and shareholder returns.