Integrated Wind Solutions (IWS) has reported a record net profit of €6.3 million ($7.3 million) for the third quarter of 2025, representing a 141 per cent increase compared to the same period last year.
The group’s total revenue for the quarter stood at €24.1 million, a 42 per cent year-on-year increase, though down 15 per cent from the previous quarter.
Group EBITDA reached €8.7 million, marking a 123 per cent increase from the third quarter of 2024. The company attributed the high year-over-year growth primarily to the performance of its IWS fleet segment. Earnings per share rose to €0.12, a 20 per cent increase from the second quarter.
IWS fleet generated revenue of €17.2 million, up from €16.3 million in the second quarter. By the end of the period, five vessels were in operation, with two on charter to the Dogger Bank Wind Farm and three to Siemens Gamesa. The company noted that the fleet achieved 100 per cent commercial uptime.
The company’s sixth vessel, IWS Sunwalker, was delivered from the shipyard on September 22. Following a naming ceremony in Las Palmas on November 21, the vessel is scheduled to commence its first charter contract in December.
Revenue for IWS Services fell to €6.9 million from €12 million in the previous quarter. This decrease was attributed to the completion of an offshore substation (OSS) project and lower activity levels in the transition piece segment.
Lars-Henrik Røren, CEO of IWS, noted that the market for supply-chain services and the OSS project portfolio presented challenges during the quarter.