Q4 2024 Aker Horizons ASA Earnings Call Transcript
Key Points
- Aker Horizons ASA (FRA:7QF) announced a significant cash dividend of NOK 3.5 billion, providing NOK 1.5 billion in liquidity to its licenses.
- The company achieved industrial milestones in carbon capture, including the commissioning of the first modular carbon capture plant in the Netherlands.
- Mainstream's renewable energy projects in South Africa and Chile are progressing well, with commercial operations expected soon.
- Aker Horizons ASA (FRA:7QF) is targeting a 65% reduction in overhead and payroll costs by 2026, aiming for over EUR70 million in annual savings.
- The Narvik Green Ammonia project reached a milestone by signing a term sheet for the supply of 150,000 tons of green ammonia to a German energy company.
- Aker Horizons ASA (FRA:7QF) reported a net loss of NOK 657 million for the fourth quarter.
- The company's EBITDA for the quarter was negative NOK 29 million, indicating operational challenges.
- Mainstream's financial performance in Chile faced challenges, with net financials being negative NOK 478 million.
- The company is facing upcoming debt maturities, including a subordinated shareholder loan and convertible bond maturing next year.
- Aker Horizons ASA (FRA:7QF) is exploring refinancing options, indicating potential financial instability.
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Hello everyone. My name is Lars P Sperre. I'm the CEO of Aker Horizons.
Welcome to today's presentation of the 4th quarter results. I'm joined here today with CFO Kristoffer Dahlberg; and CFO of Mainstream Julie Berg.
I will first comment upon some key developments since Q3, and then we will take you through the status of the investment portfolio and the Q4 financials.
First out, carbon capture. We are excited to see both material industrial progress in the carbon capture business and a significant financial event with yesterday's dividend announcement. So, the ACC board has proposed a cash dividend of NOK 3.5 billion. This will provide a NOK 1.5 billion liquidity in flow to our licenses, when approved and executed. This material dividend amount will support the ongoing process to optimize the overall capital structure of Aros. The SLB Capturi reached significant industrial milestones last quarter.
The SLB successfully completed the commissioning and handing over of the first modeler just catch 100
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