Vow ASA (SSHPF) Q2 2025 Earnings Call Transcript

Vow ASA (OTC:SSHPF) Q2 2025 Earnings Conference Call August 28, 2025 3:00 PM ET

Company Participants

Cecilie Margrethe Brænd Hekneby – Chief Financial Officer
Gunnar Pedersen – Chief Executive Officer

Gunnar Pedersen

So welcome, everyone, to this first — second quarter, first half year presentation for Vow. Today, I have Cecilie Hekneby, our CFO, with me, to help present on the numbers. My name is Gunnar Pedersen, I’m the CEO of the company.

Let me start with the headlines. So like we indicated in our first quarter presentation, we have started a structured assessment of the business. During this analysis of the Q2 numbers, we did find a couple of issues, and we will get back to the details of those in the presentation.

Now the underlying operation in the Maritime business is showing good progress. We have a solid backlog. We have a 9% growth on the top line. And also, we have improved margins. Also the Aftersales segment has continued its positive development, delivering top line growth and also improved margins. Our Industrial segment is facing challenges in its financial performance, and the backlog is getting thinner, and we will get back to that.

For the company overall, we see that improvements in the financial performance are needed, and we have launched a program addressing this. The profit improvement program will strengthen cost control. And also, we will be addressing things like our products, how we deliver them, how we transport them, but also other costs like in-house consultants and so on in this program.

So we’ll go — disclaimer for you. You can read that on your own.

So some highlights. Continued high activity in Maritime Solutions. There’s 10 vessels to be commissioned this year, while we deliver equipment to 18. Solid growth and margin improvements has continued in Aftersales. And on