M Vest Water As · OSL:MVW
M Vest Water As — Q4 2025 Earnings Presentation
17 slides from M Vest Water As's earnings presentation, 2026
Slide 1: Fourth Quarter 2025 Report
FOURTH QUARTER 2025 REPORT Presented by: Executive Chairman - Tor Olav Gabrielsen CFO - Morten Hilton Thomassen
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT This presentation contains forward looking information. Forward looking information is based on management assumptions and analysis. Actual outcomes may differ, and those differences may be material. Forward looking information is subject to significant uncertainties and risks a
Slide 3: Agenda
AGENDA 01 02 03 HIGHLIGHTS MVW BUSINESS 04 05 06 FINANCIAL TAKEAWAYS Q&A
Slide 4: Q4 Highlights
Q4 HIGHLIGHTS Chemical sales grew by 44% YoY compared to 4Q 2024 (67% YTD), strengthening both margins, EBITDA and the foundation for recurring revenue. Total revenues for 4Q 2025 amounted to NOK 7.2 million, up from NOK 4.7 million in the same period last year, representing YoY-growth of approximat
Slide 5: M Vest Water - In Brief
M VEST WATER - IN BRIEF Our Products and Services: NORWAFLOC® : Based on natural and bio-degradable products QUICK FACTS: Founded in 2017 NORWAPOL®: HQ in Bergen, Norway Novel filtration process Subsidiary in Germany Solution provider: Listed on EuroNext Oslo Growth Chemical & Technical expertise 72
Slide 6: Mission
MISSION INNOVATE ECO-FRIENDLY WATER TREATMENT SOLUTIONS MINIMIZE HAZARDOUS CHEMICAL IMPACT SUPPORT A CIRCULAR ECONOMY More than About 80% 1-3 million of the worlds wastewater tons of nano- and flows back into the microplastics is released environment without water into nature per year treatment IMPA
Slide 7: Worldwide Biodegradable Flocculant for Wastewater Treatment Market
WORLDWIDE BIODEGRADABLE FLOCCULANT FOR WASTEWATER TREATMENT MARKET MVW The shift towards natural products has is one of the only officially begun! 10 companies in the world CAGR of 13,8% (2025-2031). that offers biodegradable flocculants Source: VicMarketResearch (2025) MEGATRENDS - DRIVERS: EU, CSR
Slide 8: NORWAFLOC Production
Recurring Revenue Base: NORWAFLOC PRODUCTION IN 1000 LITERS: TOTAL VOLUMES OF CHEMICALS PRODUCED 2024 2025 400 300 YTD 2025: LITERS 200 PRODUCED 390 YOY GROWTH 245 100 60 % 140 90 0 Q4 24 YTD 24 Q4 25 YTD 25
Slide 9: Aquaculture
MARKETS SEGMENTS AQUACULTURE Norway, Iceland, STATUS 2026-2027 2028-2030 Scotland, Ireland, Fish slaughterhouses Peru, Chile, Canada Fishmeal factories Discharge Chemical Land-based farming Latest News: exemptions treatment Two new finalized. rollout; MVW contracts targeting 70% including latest 2–4
Slide 10: Oil & Gas
MARKETS SEGMENTS OIL & GAS USA STATUS 2026-2027 2028-2030 Middle East Produced water Norway Europe Slop water Oil terminals/refineries Latest news: Two 100% focus on Business important pilots in produced water. expansion / the Middle East. Target full-scale growth in GCC NORWAFLOC® pilots in the and
Slide 11: Dredging and Municipal
MARKETS SEGMENTS DREDGING AND MUNICIPAL Germany STATUS 2026-2027 2028-2030 Europe Dredging plants USA Mobile dredging plants Sand & Gravel, Sand First contract Moving, Mining Latest News: Business Ongoing paid awarded for expansion and long-term pilot at large-scale growth across Sewage sludge METHA
Slide 12: Key Figures
KEY FIGURES In NOK 1000 4Q 2025 YTD 2025 4Q 2024 FY 2024 Revenues 7 241 26 523 4 733 22 685 EBIT (4 741) (17 880) (6 772) (24 170) EBITDA (3 947) (14 722) (5 978) (21 087) Profit/(loss) (4 960) (19 057) (6 650) (24 530) Cash flow op. (3 383) (18 617) (4 288) (22 636) Total assets 52 080 52 080 40 97
Slide 13: Financial Development (Revenues)
FINANCIAL DEVELOPMENT (REVENUES) GROWTH IN CHEMICAL SALES (ARR) 4Q 2024 4Q 2025 YTD 2024 YTD 2025 25000 20000 YoY 67% 15000 YoY 44% 10000 20.9 MNOK 5000 12.5 MNOK 6.5 MNOK 4.5 MNOK 0
Slide 14: Financial Development (Revenues)
FINANCIAL DEVELOPMENT (REVENUES) ? 2025 Revenues: Aquaculture = 87%, ARR = 79% DREDGING AND OIL & GAS MNOK AQUACULTURE
Slide 15: Key Takeaways
KEY TAKEAWAYS MVW enters 2026 with a solid base of annual recurring revenues. Aquaculture continues to be our primary growth driver, delivering financial results in line with expectations. Our latest development, the sensor-based and adaptive chemical treatment technology, has resulted in two contra
Slide 16: Q&A Session
Q&A Session Connect with us: +47 55 98 99 99 info@mvestwater.com
Slide 17: Disclaimer
Disclaimer This Company Presentation (the “Presentation”) has been produced by M Vest Water (the “Company” or "MVW"). The Presentation has been prepared for information purposes only, and does not constitute or form part of, and should not be construed as, any offer, invitation or recommendation to