Vow Asa (SSHPF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to this third quarter presentation for WOW. For technical issues with the network in the auditorium, we had to do a last minute move into this conference room. So it's a bit packed in here, but we certainly hope everything is working out to your satisfaction and that everyone is receiving this webcast. So today I have Cecilia Hekneby with me, our CFO, to do the presentation of the financials. My name is Gunnar Pedersen. I'm the CEO of WOW. So I'm going to share with you some highlights first. Cecilia will take you to the financials. I'll come back with the market and business update before we go into summary and outlook and finally open up for questions. So starting off with the Q3. So Q3 was a very busy quarter across the whole company, especially in maritime solutions where we had record high revenues. We also continued our structured assessment of the company. And in Q3 specifically, we did some deep dive into the big industrial projects. What we found was that there was two big projects that had underestimated cost to completion, which has impacted the margins and also leading to reversal of revenue. Cecilia will take you through the details of that and also it's been published in a notice earlier on in October. So in the maritime solution segment, we've had record high revenue and also very positive development on the margins. perhaps a bit on the very high side compared to what you normally should expect. This is due to reduced share of legacy contracts, but also the project mix. So a lot of equipment deliveries, different types of equipment have different margins, and this quarter has been very fortunate or favorable in terms of the mix. The aftersales segment continues its positive development, improving margins, whereas th...