Vow Asa (SSHPF) Q3 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.236 Good morning, everyone, and welcome to this third quarter presentation for 00:00:05.236 -- 00:00:07.078 WOW. 00:00:07.078 -- 00:00:12.743 For technical issues with the network in the auditorium, we had to do a last minute 00:00:12.743 -- 00:00:17.968 move into this conference room. So it's a bit packed in here, but we certainly 00:00:17.968 -- 00:00:23.313 hope everything is working out to your satisfaction and that everyone 00:00:23.313 -- 00:00:26.214 is receiving this 00:00:26.256 -- 00:00:28.256 webcast. 00:00:28.718 -- 00:00:34.243 So today I have Cecilia Hekneby with me, our CFO, 00:00:34.243 -- 00:00:38.367 to do the presentation of the financials. My name is Gunnar Pedersen. 00:00:38.367 -- 00:00:41.528 I'm the CEO of WOW. 00:00:41.911 -- 00:00:45.492 So I'm going to share with you some highlights first. 00:00:45.895 -- 00:00:48.597 Cecilia will take you to the financials. 00:00:48.597 -- 00:00:54.062 I'll come back with the market and business update before we go into summary 00:00:54.062 -- 00:00:58.044 and outlook and finally open up for questions. 00:00:59.060 -- 00:01:04.467 So starting off with the Q3. So Q3 was a very busy quarter 00:01:04.467 -- 00:01:07.151 across the whole company, 00:01:07.151 -- 00:01:12.135 especially in maritime solutions where we had record high revenues. 00:01:12.998 -- 00:01:16.503 We also continued our structured assessment 00:01:16.503 -- 00:01:21.770 of the company. And in Q3 specifically, we did some deep dive into 00:01:21.770 -- 00:01:24.571 the big industrial projects. 00:01:25.739 -- 00:01:31.306 What we found was that there was two big projects that had underestimated 00:01:31.306 -- 00:01:36.593 cost to completion, which has impacted the margins and also 00:01:36.593 -- 00:01:39.7...