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Third quarter 2021 Robust and ready VOW Oslo , 27 October 2021 - Vow ASA reported stable revenues of NOK 97.8 million ( NOK 299.4 year - to - date ) in the third quarter , and an EBITDA margin of 8.3 per cent ( 9.5 per cent YTD ) . Restrictions relating to the Covid - 19 pandemic were gradually lifted during the quarter and resulted in increased activity in the cruise industry and growth in the aftersales business . Vow has secured several milestone contracts in recent months , resulting in an all - time high current order backlog of NOK 2.1 billion including options . " At the same time , we have consistently built capacity . Since early 2020 , we have increased our workforce with more than 30 per cent , invested time and resources to develop our business and strategic partnership , and increased our financial strength . Vow is robust and ready for the upturn , " said Henrik Badin , CEO of Vow ASA . Vow ASA reported stable revenues of NOK 97.8 million for the Group in the third quarter of 2021 , compared with NOK 97.9 million in the third quarter last year . Cruise ships have gradually resumed operations during the quarter which has led to significant progress for the Aftersales segment . The revenue for Projects Cruise was recorded lower in the third quarter of 2021 compared to last year , following timing of new orders and deliveries of cruise projects , but with a record high EBITDA level for the first nine months of the year . The Landbased segment recorded a revenue level in line with the same period last year . EBITDA before non - recurring items was recorded at NOK 8.1 million in the third quarter 2021 , compared with NOK 10.7 million in the same period last year . The Landbased segment is in an investment phase for further growth , reflecting the negative EBITDA contribution of NOK -4.6 million to the Group's results in the third quarter of 2021 . The order backlog currently stands at NOK 1 284 million , up from NOK 952 million at the start of the year . Vow recently received confirmation of a purchase order for delivery of process equipment and engineering support to Vow Green Metals . The contract value totals NOK 215 million , which makes this the largest contract so far in the history of the Vow Group . In addition to the firm backlog , shipowners have placed options on the newbuild series being equipped with Scanship systems amounting to a record - high NOK 849 million in likely future revenues related to the Projects Cruise segment . " As predicted , the cruise industry is bouncing back after the pandemic , welcoming guests back on their ships , and with that comes increased demand for our Aftersales services . Meanwhile , ship upgrades and fleet renewals continue to provide a sound platform for our Cruise Project business , " said Badin . " We are also eyeing a new normal for Vow with increased activity in our Landbased business . The third quarter this year will be remembered for the listing of Vow Green Metals , and Vow's 1