Integrated Wind Solutions (IWS) has published its fourth-quarter 2025 results, reporting record net profit and announcing its first dividend payment.
Total revenue for the quarter reached EUR 28.5 million, up 18% from the third quarter and 33% compared with the same period in 2024. Group earnings before interest, taxes, depreciation and amortisation amounted to EUR 10.8 million, an increase of 24% quarter-on-quarter and 55% year-on-year, driven primarily by the IWS Fleet segment.
Net profit for the quarter was EUR 7.8 million, up 24% from the previous quarter and 34% compared with the fourth quarter of 2024. Earnings per share were EUR 0.14, an increase of 17% from the third quarter.
The company has declared a cash dividend of NOK 3.00 per share, to be paid in the first quarter of 2026. This comprises an ordinary quarterly dividend of NOK 1.00 per share and an extraordinary dividend of NOK 2.00 per share.
IWS Fleet generated revenue of EUR 22.3 million in the fourth quarter, compared with EUR 17.2 million in the third quarter and EUR 12.1 million in the fourth quarter of 2024. The vessel IWS Sunwalker entered operation on 7 December, completing the newbuilding programme. By the end of the quarter, all six vessels were operational, with three on charter to the Dogger Bank Wind Farm and three to Siemens Gamesa.
The fleet has also signed a two-year extension through 2029 under its strategic agreement in the European region, with options to extend to 2032. Backlog at the end of the fourth quarter stood at EUR 152 million, an increase of 50.5% compared with the third quarter.
Within IWS Services, the subsidiary ProCon has merged with Hyndla to form an integrated offshore wind supply chain partner. The merged entity has signed new contracts totalling more than EUR 20 million so far in the first quarter of 2026, compared with a backlog of EUR 17 million at the end of the fourth quarter.
