M Vest Water As · OSL:MVW
M Vest Water As — Q1 2026 Earnings Presentation
20 slides from M Vest Water As's earnings presentation, 2026
Slide 1: First Quarter 2026 Report
FIRST QUARTER 2026 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: Q1 2026 Highlights
Q1 2026 HIGHLIGHTS Total revenues for Q1 2026 amounted to 5.8 MNOK, up from 4.3 MNOK in Q1 2025 (YoY 35%). Purchase order from Downstream Marine for the delivery of a flotation unit to a Norwegian salmon slaughterhouse, operated by one of the major global seafood companies. Aquaculture represents a
Slide 5: MVW Products & Solutions
MVW PRODUCTS & SOLUTIONS NORWAFLOC® : Natural-based flocculant and coagulant Replaces synthetic chemicals Chemical Sales = Recurring Revenues (ARR) NORWAPOL®: Founded in 2017 Novel polishing process Listed on EuroNext Oslo Growth (2021) Removes particles, oil droplets, and other pollutants HQ in Ber
Slide 6: The Paradox: Wastewater and Microplastics
More than About. 80% 1-3 million of the worlds wastewater tons of microplastic are flows back to the released into nature environment without every year treatment Chemicals used in water treatment l e ave b e h i n d nano- and microplastics in nature THE PARADOX Circular Economy Natural-based Water
Slide 7: The Problem, The Mission, The Solution
THE PROBLEM THE MISSION THE SOLUTION Water pollution Innovate eco-friendly Natural-based chemicals Water scarcity water treatment solutions for sustainable water Increased water consumption Minimize hazardous treatment Growing environmental chemical impact Filtration processes and challenges Support
Slide 8: MVW's Prioritized Markets and Industries
MVW’S PRIORITIZED MARKETS AND INDUSTRIES GLOBAL DEMAND LARGE IN SIZE The global water treatment chemical market is expected to reach USD 50 billion by 2028 STRICT REGULATIONS HIGH GROWTH AQUACULTURE OIL & GAS DREDGING MUNICIPAL
Slide 9: Oil & Gas
MARKETS SEGMENTS OIL & GAS USA Middle East 2029-2030 Produced water STATUS 2027-2028 Norway Europe Norway: 100% focus on Business Slop water NORWAFLOC® produced water expansion / supply to two growth in GCC Oil terminals/refineries plants Target full-scale and USA pilots in the Middle East pilots: G
Slide 10: Pilot in Saudi Arabia - Postponed Due to Geopolitical Situation
PILOT IN SAUDI ARABIA - POSTPONED DUE TO GEOPOLITICAL SITUATION MVW announcement: Pilot was re-scheduled to Q1 2026. Large oil company has MVW team and equipment/ chemicals located on site decided to qualify USA/Isreal attacks Iran (ongoing war) NORWAFLOC® and NORWAPOL® at major oilfield MARCH 2025
Slide 11: Dredging & Municipal
MARKETS SEGMENTS DREDGING & MUNICIPAL Germany Europe Dredging plants USA STATUS 2027-2028 2029-2030 Mobile dredging plants Ongoing paid First contract Business long-term pilot at awarded for expansion and Sand & Gravel, Sand METHA large-scale growth across Moving, Mining dredging site all segments I
Slide 12: METHA - Sustainable Solution for Sludge Dewatering
METHA - SUSTAINABLE SOLUTION FOR SLUDGE DEWATERING METHA full-scala test successfully substituting 25% of synthetic chemicals Test-program to qualify products at METHA 2022-2023 2024 2025 2026 Technological breakthrough: MVWs new Long-term final qualification step before approval NORWAFLOC ® product
Slide 13: Aquaculture
MARKETS SEGMENTS AQUACULTURE Norway, Iceland, Scotland, Ireland, Fish slaughterhouses Peru, Chile, Canada STATUS 2027-2028 2029-2030 Fishmeal factories Latest News: Discharge Chemical Contract award exemptions treatment rollout; Land-based farming Downstream Marine finalized MVW targeting 70% market
Slide 14: Financial Review - Income Statement
FINANCIAL REVIEW - INCOME STATEMENT 5.8MNOK 35% -4.7MNOK -5.6MNOK Total Revenues YoY Revenue Growth EBITDA Net Profit/Loss Total revenues in Q1 2026 amounted Total revenues increased with 35% EBITDA was negatively 4.7MNOK in Net loss was negatively 5.6MNOK in to 5.8MNOK, up from 4.3MNOK in Q1 year-o
Slide 15: Financial Review - Revenue Breakdown
FINANCIAL REVIEW - REVENUE BREAKDOWN Chemicals Equipment Other Aquaculture Oil&Gas Other MNOK6 MNOK6 MNOK5 MNOK5 MNOK4 MNOK4 MNOK3 MNOK3 ARR ≈ 70% Aqua ≈ 80% MNOK2 MNOK2 MNOK1 MNOK1 MNOK0 MNOK0 1Q 2024 1Q 2025 1Q 2026 1Q 2024 1Q 2025 1Q 2026
Slide 16: Financial Review - Balance Statement
FINANCIAL REVIEW - BALANCE STATEMENT -2.3MNOK -1.0MNOK -3.3MNOK -4.3MNOK Operating Cash Flow Investing Cash Flow Cash/Credit Facility Interest-bearing debt Cash flow from operating activities in CAPEX (investments in patents and MVW has a credit facility of 8.0MNOK At the end of the quarter total in
Slide 17: Financial Outlook
FINANCIAL OUTLOOK ? OIL&GAS AND DREDGING: Significant long-term value Highly established and regulated industries Limited market visibilty (higher potential return) MNOK AQUACULTURE: Primary growth driver Profitable standalone segment Strong market visibility (predictable growth) ? Tenders + High ac
Slide 18: Key Takeaways
KEY TAKEAWAYS Well-positioned: Our patented technology and capital-light scalable business model is well-positioned to capture growth as industries invest in water treatment, reuse, and circular solutions. Industry confidence: Partnership with DSM, has resulted in yet another equipment sale to a Nor
Slide 19: Q&A Session
MWg VEST WATER Q&A SESSION
Slide 20: 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