Integrated Wind Solutions (IWS) Q2 2026 earnings summary

Executive summary

• Achieved record high total revenue of €36.5m in Q2 2026, up 28% year-over-year and 6% sequentially.

• Group EBITDA reached €14.8m, a 64% increase year-over-year and 46% sequentially, driven mainly by IWS Fleet.

• Net profit hit €9.6m, up 79% year-over-year and 98% from Q1, with record earnings per share of €0.18.

• Board declared a third consecutive ordinary quarterly cash dividend of NOK 1.00 per share.

Financial highlights

• Total revenue for Q2 2026: €36.5m (Q2 2025: €28.4m; Q1 2026: €34.4m).

• EBITDA: €14.8m (Q2 2025: €9.0m; Q1 2026: €10.1m).

• Net profit: €9.6m (Q2 2025: €5.4m; Q1 2026: €4.9m).

• Earnings per share: €0.18 (Q2 2025: €0.10; Q1 2026: €0.08).

• Cash and cash equivalents at quarter-end: €45.2m.

Outlook and guidance

• Offshore wind sector expected to see double-digit growth, with IWS positioned for long-term industry expansion.

• Net profit for full year 2026 expected to increase by at least 20%, mainly from IWS Fleet.

• IWS Fleet anticipates continued high commercial utilisation and solid revenue/EBIT growth in 2026, with strong backlog visibility into 2027 and 2028.

• IWS Services expects high revenue growth in 2026, with long-term ambition to more than double revenues by 2030 compared to 2025.

• Quarterly dividends to continue in line with policy.