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Regulatory press release

M Vest Water: Release of Third Quarter 2024 Results - Growth in Recurring Revenue and Progress in the Middle East

19.11.2024, 07.00
M Vest Water
Bergen, Norway, 19 November 2024. M Vest Water (MVW) today published the
financial results for the third quarter of 2024.


Key summary from the third quarter of 2024:
o Strong sales growth Year-over-year, with 56% growth compared to Q3 2023.
o Increased tender portfolio and activity in Oil & Gas, aquaculture and
dredging.
o Substantial growth in recurring revenue due to NORWAFLOC® supplies to two
additional salmon slaughterhouses from September.
o Contract awarded by an Icelandic salmon slaughterhouse, representing the third
salmon slaughterhouse to choose MVW's solution for chemical treatment.
o MVW has signed an exclusive Agent Agreement with Energy Support Trading (EST).
A partnership that has fast-tracked the process of being qualified to submit
tenders directly to all the major oil operators in the Middle East.
o Technology breakthrough in Germany. Our newly developed NORWAFLOC® completely
replaces synthetic polymers for our clients in dredging, municipal wastewater,
Sand & Gravel washing, and Mining.
o Strong regulatory drive over the past year
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