Release of Fourth Quarter 2024 Results

13 Feb 2025 07:00 CET

Bergen, Norway, 13 February 2025. M Vest Water (MVW) today published the
financial results for the fourth quarter of 2024.

Key summary:

* The total revenues in 2024 increased by 106% compared to 2023.
* Entering 2025 with a strong order (sales) pipeline and high gross margins
due to a high percentage of recurring NORWAFLOC® supplies (90 % of total
revenues in Q4).
* Awarded a substantial long-term Frame and Cooperation Agreement with VEBIRO
GmbH and VEBIRO West GmbH in Germany.
* Contract award from Downstream Marine for equipment delivery to a new salmon
slaughterhouse treatment plant, operational by the end of 2025.
* Exclusive Agent Agreement with Invest Supply Company (ISC) for market
penetration in Qatar, Bahrain, Oman and the Emirates.
* Increased tender portfolio and tender activity in Oil & Gas, aquaculture and
dredging. Substantial potential value of tender and opportunities portfolio.

The Executive Chairman, Tor Olav Gabrielsen, comments; "Over the past quarter,
MVW have established a strong foundation of recurring revenues, strengthened
our position in the Middle East, and celebrated a key milestone with our first
contract in dredging. Our growing tender portfolio is a proof of concept and
reflects the potential of our technology. In addition, MVW's mission aligns
perfectly with global megatrends, including the urgent demand for clean,
usable water and regulatory pressures targeting wastewater treatment.
Supported by a scalable, capital-light business model, MVW is well-positioned
to create long lasting value for our shareholders."

Executive Chairman Tor Olav Gabrielsen and CFO Morten Hilton Thomassen will
present the company's results on Thursday, 13 February 2025 at 10:00 CET, and
invite investors, analysts, and other stakeholders to join the presentation.

Register for the presentation by using the following link:

https://us06web.zoom.us/webinar/register/WN_JiJEHyEXQGi1Yv07dOe45g#/registration

Expected duration: 30 minutes including Q&A.

The recording of the webcast and the presentation material will be published
on MVW's website afterwards.

Contact
For further information, please contact:

Morten Hilton Thomassen, CFO
mht@mvestwater.com
+47 92 25 85 70

About Us
M Vest Water is an environmental technology company which has developed unique
products and solutions to the water treatment industry, both Industrial as
well as the Municipal markets. The products are non-toxic, biodegradable and
without any harm to the environment. It obtains the highest degree of
purification in a cost-efficient arrangement.

M Vest Water is listed on Euronext Growth under the ticker MVW.
For more information, visit www.mvestwater.com.

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication at
2025-02-13 07:00 CET.

More information:
Access the news on Oslo Bors NewsWeb site

638510_Report Q4 2024 (1).pdf
638510_Report Q4 2024.pdf