Integrated Wind Solutions, an offshore wind service company listed on the Oslo Stock Exchange, has published its Q3 2025 Financial Report and Presentation.
HIGHLIGHTS - RECORD NET PROFIT
- Total revenue of EUR 24.1m for Q3 2025, a 15% decrease from Q2 and a 42% increase compared with Q3 2024.
- Group EBITDA of EUR 8.7m for Q3 2025, a 3% decrease from Q2 and a 123% increase from Q3 2024. The high year-over-year EBITDA growth was driven by IWS Fleet.
- Group net profit was EUR 6.3m for Q3 2025, a 19% increase from Q2 and a 141% increase from Q3 2024.
- Earnings per share was EUR 0.12 in Q3 2025, a 20% increase from Q2.
- IWS Fleet revenue of EUR 17.2m in Q3, versus EUR 16.3m in Q2 2025 and EUR 8.0m in Q3 2024. Five vessels were in operation by the end of Q3 2025, with two on charter to Dogger Bank and three to Siemens Gamesa.
- The sixth vessel, IWS Sunwalker, was delivered from the yard on 22 September, had its naming ceremony on 21 November in Las Palmas, and will commence its first charter contract in December.
- IWS Services revenue of EUR 6.9m in Q3 2025, versus EUR 12.0m in Q2 2025 and EUR 8.9m in Q3 2024. The decrease is a result of the completion of an OSS project, and a somewhat lower activity level in the transition piece segment.
- PEAK Wind net revenue in Q3 2025 was moderately lower than Q3 2024. The Group’s share of the net profit in Q3 2025 was EUR 0.1m, before EUR -0.1m amortisation of acquisition-related intangible assets.
Lars-Henrik Røren, CEO, commented: 'IWS reports another healthy quarter with a record net profit. IWS Fleet continues to deliver strong performance for our clients, with 100% commercial uptime, whilst generating solid earnings for the owners. However, as guided in our Q2 report, the market for supply-chain services, together with the OSS-project portfolio of IWS Services, has led to some challenges, which also impacted the numbers this quarter. Furthermore, PEAK Wind shows resilience with positive earnings. Overall, another solid quarter for IWS.'
Source: Integrated Wind Solutions
