Airswift reports solid Q2 2025 performance, reduces net debt

Airswift Global AS announced a solid performance for Q2 2025, with adjusted EBITDA from continued operations reaching $18.5m, slightly down 4.8% year-over-year but showing quarter-on-quarter growth. Revenue increased by 1.5% to $379.5m, driven by strong contract business and increased margins. Net fee income (NFI) grew by 1.9% to $43.3m, boosted by strong contract margins and a successful quarter for the professional search team.

The company significantly reduced its net debt by $18.0m, bringing the Q2 2025 NIBD to $224.4m and leverage down to 2.9x from 3.3x. This improvement was supported by proactive working capital management and improved cash efficiencies, resulting in a cash inflow from operations of $26m. The average contractor count was 7,762, a decline of 249 year-over-year, reflecting a focus on higher-margin business and the exit of lower-margin contracts.

Strategic initiatives in Q2 included the full exit from the Kazakhstan market, aligning with Airswift’s focus on STEM expansion, efficiency, and sustainable growth. The company also released its fourth annual ESG report for 2024, highlighting its commitment to sustainability. Airswift is well-positioned to achieve its business objectives for the second half of 2025, driven by its vision to lead the energy transition, diversify end markets, and accelerate M&A.