Q2 2025 Hav Group ASA Earnings Call Transcript
Key Points
- HAV Group ASA (FRA:6HH) reported a solid quarterly revenue of NOK193.3 million, with a positive EBITDA of NOK4.1 million for the third consecutive quarter.
- The company's cash balance significantly increased to NOK293 million, more than doubling from NOK124 million the previous year.
- HAV Group ASA secured an order intake of NOK215 million, including significant contracts such as a EUR8.5 million deal with Tersan Shipyard and three charging stations for Norled ferries.
- The order backlog remains strong at close to NOK1.3 billion, indicating a healthy pipeline of future work.
- The Energy Design and Smart Control Systems segment continues to perform well, contributing significantly to turnover and margin improvements.
- The Ship Design segment is experiencing low capacity utilization and needs to secure more contracts to achieve expected profitability.
- The Water Treatment segment faced lower-than-expected sales in the Marine segment, although it returned to positive EBITDA in the second quarter.
- The Hydrogen-based Energy System segment has reduced costs and activity levels due to market conditions, impacting its immediate growth potential.
- There is uncertainty in the geopolitical situation and tariff issues, which could create headwinds for the company.
- Despite a generally strong market for new builds and green ship designs, the Ship Design segment continues to underperform with limited contract wins.
(video playing)
Good morning, everybody, and welcome to HAV Group's presentation of financial results for the second quarter and the first half year of 2025. My name is Gunnar Larsen, and I'm here today, as usual, with our CFO, Pål Aurvåg. Today, we will talk about the highlights of the quarter, some information about HAV Group in general.
We will go more into detail on the business segments. PÃ¥l will give you more details about the financials. We will sum up and give you our outlook for the future for HAV and at the end, as usual, we will have a Q&A session where you have already sent in and can still send in questions that we will answer.
The key developments in the quarter was that we had a very solid quarterly revenue of NOK193.3 million. The EBITDA was NOK4.1 million. That is the third consecutive quarter with positive EBITDA. And the Energy Design and Smart Control Systems segment continued to have very strong performance.
The balance sheet was steadily strengthening. Cash balance was NOK293 million,
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