Integrated Wind Solutions ASA ("IWS") has today published its Q1 2025 Financial
Report and Presentation.

HIGHLIGHTS - STRONG REVENUE GROWTH
oA record total revenue of EUR 25.2m for Q1 2025, an 18% increase from Q4 2024
and a 367% increase compared with Q1 2024.
oGroup EBITDA of EUR 5.3m for Q1 2025 compared with EUR 6.9m (EUR 3.9m excluding
a EUR 3.0m termination fee) in Q4 2024 and EUR -3.2m in Q1 2024. The
year-over-year EBITDA growth was driven by IWS Fleet and IWS Services.
oGroup net profit was EUR 3.4m for Q1 2025 compared with EUR 5.8m (EUR 2.8m
excluding a EUR 3.0m termination fee) in Q4 2024 and EUR -2.8m in Q1 2024.
oExcluding EUR 3.0m termination fee income in Q4 2024 (nil in Q1 2025), the
EBITDA and net profit growth of the Group were 34% and 19%, respectively.
oIWS completed the uplisting to Euronext Oslo Børs, with the first trading day
on 3 February 2025. To ensure compliance with the minimum number of shareholders
required for the uplisting, the Company issued 810,800 shares on 31 January
2025, raising gross proceeds of EUR 2.6 million and welcoming approximately 700
new shareholders.
oIWS Fleet revenue of EUR 14.2m in Q1 2025, versus EUR 12.1m in Q4 2024 and EUR
0.6m in Q1 2024. Four vessels were in operation during Q1 2025, with IWS
Skywalker and IWS Starwalker on charter with Dogger Bank Wind Farm ("Dogger
Bank") and IWS Windwalker on charter with Siemens Gamesa Renewable Energy
("Siemens Gamesa"). IWS Seawalker was on charter with Dogger Bank at the
beginning of the quarter and transitioned to charter with Siemens Gamesa partway
through the quarter.
oIWS Fleet secured a EUR 10m overdraft facility in April to further strengthen
the liquidity.
oIWS Fleet signed, in Q1 2025, charter contracts for more than EUR 30m
(book-to-bill >2). IWS Skywalker's contracts with Dogger Bank Wind Farm were, in
January 2025, extended from the end of Q2 2026 into Q3 2027 on improved terms.
Furthermore, IWS Starwalker, the fourth CSOV, signed a new contract with Dogger
Bank Wind Farm that commenced on 10 February 2025.
oIWS Services revenue of EUR 10.9m in Q1 2025, an increase of 20% from Q4 2024,
mainly driven by contracts in the offshore substation segment, which is a new
segment for IWS Services.
oPEAK Wind net revenue in Q1 2025 was on par with Q4 2024. The Group's share of
the net profit in Q1 2025 was EUR 0.1m, before EUR -0.1m amortisation of
acquisition-related intangible assets, and was impacted by uncertainties in the
global business environment.

Lars-Henrik Røren, CEO, commented: "IWS has delivered another record quarter
with strong growth in revenue. IWS Fleet has, with its latest addition, four
CSOVs in operation that continue to deliver exceptional performance for our
clients. Despite higher segment uncertainties and weaker performance in IWS
Services and PEAK Wind, the Group reports strong topline growth and a
satisfactory result. With two additional vessels to be delivered this year, and
our ability to generate a profit in an uncertain market, we are confident in our
ability to generate profitable growth."


For investor relations queries, please contact

Marius Magelie
Group CFO Integrated Wind Solutions
Phone: +47 920 27 419
E-mail: [email protected]


For press queries, please contact

Lars-Henrik Røren
CEO Integrated Wind Solutions
Phone: +47 98 22 85 06
E-mail: [email protected]


About IWS:
Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels
to the offshore wind industry, combined with a suite of adhering services. The
Company owns 74.62% of IWS Fleet AS, which has four Commissioning Service
Operation Vessels ("CSOVs") in operation and two CSOVs under construction with
delivery in 2025. Furthermore, IWS owns the offshore wind supply-chain service
company, IWS Services A/S and the investment in the independent advisor,
consultancy, data intelligence and wind farm operator firm PEAK Wind Group.

Integrated Wind Solutions ASA is listed on Euronext Oslo Børs under the ticker
"IWS".

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.