Integrated Wind Solutions reported record-high total revenue of €34.4 million ($39.9 million) for the first quarter of 2026, representing a 37 per cent increase compared with the first quarter of 2025. This represents a 21 per cent rise from the fourth quarter of 2025.
EBITDA reached €10.1 million in the first quarter, representing a 92 per cent increase from the first quarter of 2025 but a six per cent decrease from the fourth quarter of 2025.
The company reported that this year-over-year growth was driven by its fleet division.
Net profit for the first quarter was €4.9 million, representing a 44 per cent increase from the first quarter of 2025 but a 38 per cent decrease from the fourth quarter of 2025. This quarterly decrease was attributed to the cessation of borrowing cost capitalisation and the non-repetition of a positive tax effect from the prior quarter.
The fleet division generated revenue of €23.4 million during the first quarter, compared with €22.3 million in the fourth quarter of 2025. All six vessels were in operation during the period and achieved commercial utilisation of 95 per cent as two vessels moved between charter contracts.
During this period, IWS Services merged its subsidiary ProCon, with Hyndla. The merged business signed new contracts totalling more than €20 million in the first quarter, more than doubling its backlog from the end of the fourth quarter of 2025.
