Moreld maintains strong 2025 EBITDA guidance as Q3 revenue climbs

Moreld ASA announced revenues of NOK 2.07 bn for Q3 2025, contributing to a year-to-date total of NOK 7.6 bn, a 14% increase year-on-year. Adjusted EBITDA for the quarter was NOK 178m, with an 8.4% margin, reflecting a higher share of spot work. The company reiterated its full-year 2025 EBITDA guidance of NOK 1.0-1.2 bn.

Commercial activity remained high, with large tenders submitted, despite fewer large offshore projects in Q3. Ocean Installer successfully completed two subsea projects, and Moreld Apply saw a 21% year-on-year revenue increase in maintenance and modification contracts. Subsequent to the quarter-end, Ocean Installer secured a large contract with Vår Energi.

The company's contracted backlog stood at NOK 5.7 bn at the end of Q3 2025, with NOK 1.5 bn expected for delivery in 2025. Moreld maintains a robust balance sheet with a cash balance of NOK 985m. A quarterly dividend of NOK 0.42 per share was distributed in August, with an additional NOK 0.42 per share approved for November.