Integrated Wind Solutions has published its Q2 2025 Financial Report and Presentation.
HIGHLIGHTS - RECORD NET PROFIT
- A record total revenue of EUR 28.5m for Q2 2025, a 13% increase from Q1 and a 126% increase compared with Q2 2024.
- Group EBITDA of EUR 9.0m for Q2 2025 compared with EUR 5.3m in Q1 and EUR 1.6m in Q2 2024. The year-over-year EBITDA growth was driven by IWS Fleet.
- Group net profit was EUR 5.4m for Q2 2025 compared with EUR 3.4m in Q1 and EUR 0.6m in Q2 2024.
- The sequential EBITDA and net profit growth of the Group in Q2 2025 were 71% and 58%, respectively.
- IWS Fleet revenue of EUR 16.3m, versus EUR 14.2m in Q1 2025 and EUR 4.8m in Q2 2024. Four vessels were in operation throughout Q2 2025, with two vessels on charter with Dogger Bank and two vessels on charter with Siemens Gamesa.
- The fifth vessel, IWS Moonwalker, was delivered from the yard on 26 June and will arrive in Europe in early September, before commencing its first charter contract shortly thereafter.
- IWS Fleet added 391 new charter days to its backlog in Q2 2025 (book-to-bill >1).
- IWS Services revenue of EUR 12.0m in Q2 2025, an increase of 10% from Q1 2025. The growth was driven by projects in the offshore substation segment that continue to put pressure on the EBITDA margin.
- PEAK Wind net revenue in Q2 2025 was on par with Q2 2024. The Group’s share of the net profit in Q2 2025 was EUR 0.2m, before EUR -0.1m amortisation of acquisition-related intangible assets.
Lars-Henrik Røren, CEO, commented: 'IWS reports another strong quarter with record net profit. IWS Fleet continues to deliver outstanding performance for our clients, with 100% commercial uptime, whilst generating solid earnings for the owners. We are also pleased with the improvements in IWS Services and PEAK Wind this quarter, despite the current industry sentiment. Overall, another solid quarter for IWS.'
Source: Integrated Wind Solutions
