Hav Group Asa · OSL:HAV
Hav Group Asa — Q1 2026 Earnings Presentation
22 slides from Hav Group Asa's earnings presentation, 2026
Slide 1: A sustainable future at sea
A sustainable future at sea www.havgroup.no
Slide 2: Agenda
Agenda 1. Q1 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 3: Q1 2026 highlights
Q1 2026 highlights Revenue per quarter 268,1 233,1 Key developments 193,3 193,7 • Quarterly results a solid improvement on same quarter last year: 147,9 • Revenue: +57% vs Q1 2025 • EBITDA-result: x29 higher than Q1 2025 • EBITDA-margin: 5.5% vs 0.3% Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 • Energy design and
Slide 4: Order intake & backlog
Order intake & backlog Order intake per quarter Order backlog* development Order backlog* per execution year 250 1400 215 1267 1288 1266 1300 335 1 058 200 189 171 1200 1143 146 148 1100 1058 150 723 1000 100 900 800 50 700 600 0 500 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 2026 2
Slide 5: HAV Group in brief
HAV Group in brief A sustainable future future at sea www.havgroup.no www.havgroup.no
Slide 6: 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 7: Fosnavåg, Norway
FOSNAVÅG, NORWAY CEO: Gunnar Larsen Employees: 163 Market Cap*: NOK 534 Million *PER 27/05 2026
Slide 8: 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 9: Segment information
Segment information A sustainable future future at sea www.havgroup.no www.havgroup.no
Slide 10: Energy design and smart control systems | Q1 2026 highlights
Energy design and smart control systems | Q1 2026 highlights Financials Market and sales • Revenue up 64% compared to Q1 last year • NOK 50+ million contract for two ferry chargers to Fjord1 for Krakhella- Rysjedalsvika ferry crossing • EBITDA up 66% versus Q1 2025 • Contract from Fitjar Mekaniske V
Slide 11: Ship design | Q1 2026 highlights
Ship design | Q1 2026 highlights Financials Market and sales • Revenue on par with previous quarters • Contract to provide design and engineering services for upgrade of • Low level of trading, large majority of revenue is design/engineering work previously designed vessel • Ebitda negatively affect
Slide 12: Water treatment systems | Q1 2026 highlights
Water treatment systems | Q1 2026 highlights Financials Market and sales • Improved revenue and EBITDA versus Q1 last year, but higher volumes • Contracts to deliver a total of ten new ballast water treatment systems – for required to deliver positive results both newbuilds and retrofit – to various
Slide 13: Strong megatrends within the maritime industry
Strong megatrends within the maritime industry Regulation-driven decarbonization Electrification & hybrid systems Alternative fuel and fuel flexibility Regulatory push for market adoption • Emissions regulation is reshaping • Electrification expanding across • Fuel flexibility becoming central to •
Slide 14: Zero-emission regulation are pushing the marine industry
Zero-emission regulation are pushing the marine industry HAV Group attractively positioned as a key supplier in the global megatrend of maritime decarbonization Industry challenges Strong regulatory push towards decarbonization ~80% ~900 mT ~2.5% IMO 2018: Aim to reduce GHG emission from internation
Slide 15: Norwegian climate regulation proposals could accelerate electrification across offshore and aquaculture fleets
Norwegian climate regulation proposals could accelerate electrification across offshore and aquaculture fleets Aquaculture vessels facing a major low- and zero-emission transition Offshore supply & service vessels moving toward lower-emission • The Norwegian government has proposed that aquaculture
Slide 16: Financials
Financials A sustainable future future at sea www.havgroup.no www.havgroup.no
Slide 17: Q1 2026 key financials
Q1 2026 key financials NOKm Q1 2026 Q1 2025 2025 Comments Unaudited Unaudited Unaudited • Solid revenue generation in the quarter, Operating income 233.1 147.9 803.0 primarily driven by energy design and EBITDA 11.8 0.4 21.7 smart control systems segment EBIT 6.0 -4.2 2.0 • Considerably improved EBI
Slide 18: Q1 2026 balance sheet
Q1 2026 balance sheet Comments NOKm Q1 26 Q1 25 2025 NOKm Q1 26 Q1 25 2025 Assets: Unaudited Unaudited Audited Unaudited unaudited Audited • Total receivables increased by NOK 80.8 million from Non-current assets start of year, mainly due to accounts receivables Total equity 93.1 84.9 88.1 Total int
Slide 19: Q1 2026 cash flow statement
Q1 2026 cash flow statement NOKm Q1 2026 Q1 2025 2025 Comments Q1 2026 (NOKm) Unaudited Unaudited Unaudited Negative cash flow from operations • Advance payment from customers + 43.5 Net cash flow from Operating activities -58.3 2.0 -30.1 • Net payable/receivable changes -111.6 • Others + 9.8 Net ca
Slide 20: Summary and market outlook
Summary and market outlook A sustainable future future at sea www.havgroup.no www.havgroup.no
Slide 21: Summary
Summary Significantly improved revenue, Another quarter with solid Order backlog of NOK 1.06 Winning new contracts top EBITDA-result and -margin results from energy and smart billion provides good visibility priority for water treatment compared to Q1 2025 control systems segment for 2026 system and
Slide 22: 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 in 2026, and HAV shape the maritime industry. In Europe, EU-regulations reward shipowners who Group anticipates both re