Hav Group Asa · OSL:HAV
Hav Group Asa — Q2 2026 Earnings Presentation
25 slides from Hav Group Asa's earnings presentation, August 2026
Slide 1: A sustainable future at sea
A sustainable future at sea www.havgroup.no
Slide 2: A sustainable future at sea
A sustainable future at sea www.havgroup.no
Slide 3: A sustainable future at sea
A sustainable future at sea www.havgroup.no
Slide 4: Agenda
Agenda 1. Q2 2026 highlights 2. HAV Group in brief 3. Business segment update 4. Financials 5. Summary and outlook 6. Q&A A sustainable future at sea www.havgroup.no
Slide 5: Q2 2026 highlights
Q2 2026 highlights Revenue per quarter 268,1 267,3 233,1 Key developments 193,3 193,7 • Strong second quarter and a significant improvement on the corresponding quarter last year: • Revenue: +38% vs Q2 2025 • EBITDA-result: x4 higher than Q2 2025 • EBITDA-margin: 6.5% vs 2.1% in Q2 2025 Q2/25 Q3/25
Slide 6: Order intake & backlog
Order intake & backlog Order intake per quarter Order backlog* development Order backlog* per execution year 250 1400 215 1288 1266 1300 200 171 1200 1143 146 148 1100 1058 375 826 150 1000 100 900 826 451 800 50 35 700 600 0 500 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 2026 2027
Slide 7: H1 2026: Delivering in line with full-year 2026 guidance
H1 2026: Delivering in line with full-year 2026 guidance Revenue EBITDA EBITDA-margin (%) 600 35 8,0 +46% 500 +546% 29,1 500 30 7,0 +4.5 p.p. 5,8 6,0 400 25 341 5,0 20 300 4,0 15 3,0 200 10 2,0 1,3 100 4,5 5 1,0 0 0 0,0 H1/25 H1/26 H1/25 H1/26 H1/25 H1/26 A sustainable future at sea www.havgroup.no
Slide 8: HAV Group in brief
HAV Group in brief A sustainable future future at sea www.havgroup.no www.havgroup.no
Slide 9: Enabling optimized vessel performance, safety and operating costs
A SUSTAINABLE FUTURE AT SEA Enabling optimized vessel performance, safety and operating costs A sustainable future at sea www.havgroup.no
Slide 10: Fosnavåg, Norway
FOSNAVÅG, NORWAY CEO: Gunnar Larsen Employees: 163 Market Cap*: NOK 482 Million *PER 26/08 2026
Slide 11: Our main industry segments
Our main industry segments Offshore wind Oil and gas Ferries and ropax Aquaculture Fishery Short sea cargo A sustainable future at sea www.havgroup.no
Slide 12: Segment information
Segment information A sustainable future future at sea www.havgroup.no www.havgroup.no
Slide 13: Ship design | Q2 2026 highlights
Ship design | Q2 2026 highlights Financials Market and sales • Revenue up from previous quarters but below the same quarter last year • Awaiting tender clarifications on several projects within current core • EBITDA on same level as Q2 previous year segments during this autumn, with potential initia
Slide 14: Water treatment systems | Q2 2026 highlights
Water treatment systems | Q2 2026 highlights Financials Market and sales • EBITDA-result impacted by low work volume in quarter, higher volumes • Contracts to deliver a total of ten new ballast water treatment systems required to deliver positive results (BWTS) – for both newbuilds and retrofit – to
Slide 15: Energy design and smart control systems | Q2 2026 highlights
Energy design and smart control systems | Q2 2026 highlights Financials Market and sales • A solid quarter from the business segment • High tender activity, but geopolitical uncertainty causes some investment • Revenue up 58% compared to Q2 last year decisions to be pushed to the right • EBITDA up 1
Slide 16: Initiation of strategic review, announced April 2026
Initiation of strategic review, announced 30 April 2026 Explore strategic Process ongoing Open-ended opportunities for process HAV Group With favourable market HAV Group will update No guarantee that the trends as backdrop for the market with any process results in a the strategic review, relevant i
Slide 17: Financials
Financials A sustainable future future at sea www.havgroup.no www.havgroup.no
Slide 18: Q2 2026 key financials
Q2 2026 key financials NOKm Q2 2026 Q2 2025 YTD 2026 YTD 2025 2025 Comments Unaudited Unaudited Unaudited Unaudited Audited • Solid revenue generation in the quarter, primarily driven by energy design and smart Operating income 267.3 193.3 500.0 341.3 803.0 control systems segment EBITDA 17.3 4.1 29
Slide 19: Q2 2026 balance sheet
Q2 2026 balance sheet NOKm Q2 26 Q2 25 2025 NOKm Q1 26 Q2 25 2025 Comments Unaudited Unaudited Audited Unaudited Unaudited Audited Assets: Non-current assets Total equity 101.4 86.1 88.1 • Total receivables reduced by NOK 31.5 million from Total intangible assets 68.9 81.3 76.1 start of year, mainly
Slide 20: Q2 2026 cash flow statement
Q2 2026 cash flow statement NOKm Q2 2026 Q2 2025 2025 Comments Q2 2026 (NOKm) Unaudited Unaudited Unaudited Positive cash flow from operations • Net payable/receivable changes + 130.0 Net cash flow from Operating activities 104.2 52.0 -30.1 • Advance payment from customers - 47.3 • Others + 13 Net c
Slide 21: Summary and market outlook
Summary and market outlook A sustainable future future at sea www.havgroup.no www.havgroup.no
Slide 22: Summary
Summary Significantly improved revenue, Another quarter with solid Low order intake in Q2, but Winning new contracts EBITDA-result and -margin results from energy and smart order backlog of NOK 826 essential to return water compared to Q2 2025 control systems segment million provides good visibility
Slide 23: Outlook
Outlook Global megatrends: Outlook: The green transition, stricter regulations, and increasing competition continue to The positive development seen in 2025 is expected to continue throughout 2026, shape the maritime industry. In Europe, EU-regulations reward shipowners who and HAV Group anticipates
Slide 24: A sustainable future at sea
A sustainable future at sea www.havgroup.no
Slide 25: A sustainable future at sea
A sustainable future at sea www.havgroup.no