LYSAKER, Norway, April 30, 2024 /PRNewswire/ -- Aker Horizons ASA (OSE: AKH), a developer of green energy and industry, today announced results for the first quarter 2024. Aker Horizons' net asset value stood at NOK 8.7 billion as of 31 March 2024. The company had a cash position of NOK 3.2 billion and an undrawn credit facility of EUR 500 million, giving available liquidity of NOK 9.0 billion.
First quarter 2024 main developments:
Aker Carbon Capture agreed to form a joint venture with SLB and recorded a strong order intake:
Mainstream Renewable Power continued to execute on its near-term project pipeline:
Aker Horizons Asset Development completed pre-FEED and is exploring power-intensive growth industries for sites in Northern Norway:
Kristian Røkke, CEO of Aker Horizons, commented:
"The first quarter of 2024 marked a milestone for Aker Horizons, as Aker Carbon Capture ASA and SLB agreed to merge their carbon capture businesses to accelerate industrial decarbonization at scale. SLB is the ideal partner to elevate ACC's scaling of cost-effective carbon capture solutions. Mainstream Renewable Power continued to execute on its near-term project pipeline, notably with a new private PPA project underway in South Africa. In the hydrogen segment, Aker Horizons' flagship Narvik Green Ammonia project is advancing, with the joint pre-FEED study now completed."
Aker Horizons' net asset value (NAV) stood at NOK 8.7 billion at the end of the first quarter, compared to NOK 10.8 billion in the fourth quarter 2023. Aker Horizons' gross asset value stood at NOK 15.1 billion at 31 March 2024, down from NOK 17.1 billion in the prior quarter.
The Q1 2024 presentation is attached.
Aker Horizons' CEO Kristian Røkke, CFO Kristoffer Dahlberg and Mainstream's CEO Mary Quaney will present the main developments in the first quarter of 2024 today at 08:30 CEST followed by a Q&A session. The presentation, which is open to all, will be held in English and will be webcast on Aker Horizons' website: https://akerhorizons.com/investors
For further information, please contact:
Marianne Stigset, Director of Communications and External Affairs
Tel: +47 41 18 84 82
Email: marianne.stigset@akerhorizons.com
Stian Andreassen, head of Investor Relations
Tel: +47 41 64 31 07
Email: stian.andreassen@akerhorizons.com
About Aker Horizons
Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and hydrogen and develops industrial-scale decarbonization projects. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. www.akerhorizons.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements in Regulation EU 596/2014 and the Norwegian Securities Trading Act § 5-12. This stock exchange announcement was published by Marianne Stigset, Communications, Aker Horizons, on 30 April 2024 at 07:00 CEST.
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https://news.cision.com/aker-horizons/r/aker-horizons-asa--first-quarter-results-2024,c3970409
The following files are available for download:
https://mb.cision.com/Public/20659/3970409/8e0d4057e746eb5e.pdf |
Aker Horizons Q1 2024 Presentation |
