17 slides from Integrated Wind Solutions Asa's earnings presentation, Feb 25, 2025
Slide 1: Q4 2024 Presentation
Q4 2024 Presentation 25 February 2025
Slide 2: IWS | A fully integrated offshore wind solutions provider
IWS | A fully integrated offshore wind solutions provider 1) Source: Clarksons 2 2) 49% ownership
Slide 3: IWS | A fully integrated offshore wind solutions provider
IWS | A fully integrated offshore wind solutions provider Integrated Services Operations & Asset Management ~75% 100% 49% 3
Slide 4: Q4 2024 | Recent highlights
Q4 2024 | Recent highlights Arecord total revenue of EUR 21.4m for Q4 2024, a 26% increase from Q3 and a 232% increase compared with Q4 2023. Group EBITDA of EUR 6.9m for Q4 2024 compared with EUR 3.9m in Q3 and EUR -0.2m in Q4 2023. The EBITDA growth was driven by IWS Fleet and improvements in IWS
Slide 5: Q4 2024 | Recent highlights (cont.)
Q4 2024 | Recent highlights (cont.) 5
Slide 6: IWS Fleet | Strong revenue backlog to tier 1 clients
IWS Fleet | Strong revenue backlog1 to tier 1 clients 1) As of 31 December, adjusted for contracts signed in 2025 up to the date of this presentation. Contract backlog was EUR 84 million prior to adjustments. 6 Gross victualling income of EUR 5,000 per day and zero inflation adjustments.
Slide 7: IWS Starwalker | Port of Hanstholm
IWS Starwalker | Port of Hanstholm Photo: Tim Boerner, February 2025
Slide 8: IWS Skywalker class | Vessel overview
IWS Skywalker class | Vessel overview 1 2 3 IWS Skywalker IWS Windwalker IWS Seawalker Operating at Dogger Bank Operating for Siemens Gamesa Mobilising for Siemens Gamesa 4 5 6 IWS Starwalker IWS Moonwalker IWS Sunwalker Operating at Dogger Bank Started commissioning Launched 8
Slide 9: IWS Skywalker class | Overview
IWS Skywalker class | Overview 9
Slide 10: IWS Fleet | Favourable yard prices → attractive cash flow yields
IWS Fleet | Favourable yard prices → attractive cash flow yields Newbuilding yard prices1 (EUR million) ► Attractive free equity cash flow yields2 ’ improves free cash flow yield. ’ at an attractive average fixed yard price of EUR 48m per vessel, which includes additional equipment and features that
Slide 11: Key financials | Q4 2024
Key financials | Q4 2024 Income statement (EUR ‘00! 32024 ©Q4.2024 = 4.2023 2024 2023 Operating revenue 16,775 21,288 6,263 55,722 22,600 Share of net profit of associates 195 136 196 661 370 Total revenue 16,970 21,424 6,459 56,383 22,970 Operating expenses -13,061—-14,501 6,696 47,117 —-25,618 EBI
Slide 12: Key financials | Q4 2024
Key financials | Q4 2024 Balance sheet (EUR '000' Q3 2024 Q4 2024 Q3 2024 Q4 2024 Vessels 93,111 145,637 Share capital 7,703 7,703 Vessels under construction 75,162 79,869 Share premium reserve 126,809 126,809 Other fixed assets 1,478 1,377 Retained earnings and other equity 12,181 16,462 Intangible
Slide 13: Key financials | Segment reporting
Key financials | Segment reporting Segment reporting show inter-segment revenue and expenses 13
Slide 14: Key financials | Segment reporting
Key financials | Segment reporting 14
Slide 15: IWS Fleet | Capex & financing
IWS Fleet | Capex & financing 15
Slide 16: Outlook
Outlook The offshore wind market remains strong with a pipeline of development projects, auctions and political ambitions. The IWS group of companies is well positioned to take part in this growth. IWS Fleet will continue to ramp up activity, with additional vessels entering operation over the comin
Slide 17: Investor relations contact
Investor relations contact: Marius Magelie, Group CFO +47 920 27 419 Ticker: IWS iws@integratedwind.com integratedwind.com