Q4 2024 Arendals Fossekompani ASA Earnings Call Transcript
Key Points
- Total group revenue increased by 14%, showcasing strong financial growth.
- Operating profit rose significantly from NOK67 million to NOK151 million year-over-year.
- EBIT margin improved to 13%, up from 7% in the same quarter last year.
- Successful acquisition and delisting of Volue resulted in a financial gain of NOK3.3 billion.
- NSSLGlobal reported a 14% revenue growth and secured GBP18.2 million in new contracts.
- European sales for ENRX were lower compared to the same quarter last year.
- AFK Vannkraft's higher production was offset by lower power prices in the NO2 region.
- Teckna experienced a decline in total operating revenue due to lower order intake.
- Hydropower production faced challenges with declining power prices.
- Dividend payment of NOK1 per share may be considered modest by some shareholders.
Hi, I'm Benjamin Golding. Welcome to the presentation of our financial results for the fourth quarter. Total operating revenue amounted to NOK1.2 billion. Total group revenue increased by 14%, and operating profit increased from NOK67 million to NOK151 million compared to the same quarter last year.
And we delivered an EBIT margin of 13%, up from 7% in the same quarter last year. The increase was largely driven by solid performance across several portfolio companies, with particularly strong growth and operational excellence in NSSLGlobal and ENRX.
In October, Arendals Fossekompani, Advent International, and Generation Investment Management completed the acquisition and delisting of Volue. The completed Volue transaction resulted in a financial gain of NOK3.3 billion in AFK parent company in the quarter.
For the full year of 2024, Arendals Fossekompani Group revenue amounted to NOK4.4 billion, with an operating profit of NOK390 million. In a year with declining power prices, we've seen strong performance from
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