Q1 2025 Magnora ASA Earnings Call Transcript
Key Points
- Magnora ASA (STU:4SM) experienced a 66% growth in their landbank since Q1 2024, with a 19% growth during the quarter, reaching 7.5 gigawatts.
- The company has a strong cash position, allowing them to sell projects when the price is right, and they have renewed their credit facility with a leading Tier 1 Nordic bank.
- Magnora ASA's German subsidiary is gaining momentum with more than 50 projects and prospects for hybrid potential, indicating strong commercial discussions.
- The company has a diversified project portfolio across various regions and technologies, including Solar PV, wind, Onshore wind, and Offshore wind.
- Magnora ASA announced an unchanged quarterly dividend of NOK0.187 per share, reflecting financial stability and shareholder returns.
- Geopolitical risks and uncertainties could impact the company's operations and market conditions.
- The company reported a loss from associate companies of negative NOK4 million, compared to a gain in the previous year.
- Magnora ASA's operating costs have decreased, but there is still a focus on minimizing expenses for project quality.
- The company faces challenges in certain markets where Onshore wind projects are too expensive or not feasible.
- There is a risk of energy scarcity, with increasing demands from data centers and AI potentially outpacing new energy supply.
Welcome to another exciting quarter with a lot of geopolitical risk, and I'll Speak a little about how we have solved that in Magnora. So, Q1 report 2025. So, highlights from the quarter.
We've had continued very high growth in our project portfolio. The numbers for 2024 was 15% global growth in all renewables, due to the fact that they're really cheap and outcompete any other power production technology. We have had 66% growth in our landbank since Q1 2024, 19% growth during the quarter.
Our landbank reached 7.5 gigawatts and the highest growth was our Onshore project portfolio in South Africa. We have a low cost, we're loyal towards our greenfield operating and business model. Our costs were moderately down during the quarter. What's been really interesting is that interest from potential customers and partners have picked up significantly during the quarter due to scarcity of good projects and improved sentiment in Europe driving growth and inbound requests.
We have commercial discussions across all our regions and all our
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