Aker Horizons ASA Reports Strong Q1 2025 Financial Results

Overview of Aker Horizons ASA's First Quarter Results

Aker Horizons ASA (OSE: AKH), a pioneering force in green energy and industry, has announced its first quarter results for 2025. This year, the company reported exciting developments reflecting its commitment to sustainable solutions and innovation. Aker Horizons' net capital employed is currently reported at NOK 4.3 billion, marking a decrease of NOK 1.7 billion from the previous quarter. This reduction is primarily attributed to the dividends paid by Aker Carbon Capture ASA (ACC) during the quarter, alongside the company’s share of results from its portfolio companies during Q1.

Financial Position and Developments

The financial standing of Aker Horizons is strong, with a reported cash position of NOK 4.1 billion, complemented by an undrawn credit facility amounting to EUR 500 million. However, it is important to note that this credit facility has expired and will not be extended. Aker Horizons is on a steady path towards enhancing its capital structure while navigating a dynamic market.

Highlights from the Portfolio

Key developments across its portfolio for the quarter include significant achievements by Aker Carbon Capture. The company has distributed the first segment of a NOK 3.5 billion dividend to its shareholders in Q1, with NOK 1.26 billion received by AKH in March and NOK 0.26 billion in May. Furthermore, ACC earned NOK 71 million from SLB concerning the Hafslund Celsio contract award, showcasing the active commercial landscape in which ACC operates.

Mainstream Renewable Power Funding

Aker Horizons has successfully completed the refinancing of Mainstream Renewable Power (MRP), acquiring necessary funding dedicated to growth in essential markets, particularly in regions targeting renewable energy expansion. Notably, three projects in South Africa, collectively totaling 350 MW, are on track to reach financial closure within the next 18 months. Additionally, MRP has sold a project portfolio in Colombia to local energy firm Celsia, enhancing its footprint in the Latin American energy market.

Strategic Initiatives and Innovations

In its quest for sustainable innovation, Aker Horizons is actively exploring opportunities for data centers in collaboration with Nordkraft in Northern Norway. The potential data center project aims to capitalize on the Kvandal site in Narvik, which is ready for construction. Meanwhile, the Narvik Green Ammonia project is awaiting feedback regarding an application for additional grid capacity before progress can be made to the next project stages.

Technological Advancements by SuperNode

A major milestone was reached when SuperNode successfully conducted initial full-scale testing of its cutting-edge superconducting technology. The prototype showcased positive results in testing conducted in the UK in March, with a demo planned for mid-2025, where a 30-meter transmission distance will be demonstrated. This innovation signifies a significant leap toward enhancing energy transmission efficiency.

Insight into Aker Horizons' Capital Allocation

The first quarter analysis reveals that Aker Horizons adopts a unique approach to net capital employed, primarily represented through a portfolio of unlisted assets. As part of its capital strategy, the net capital employed figure reflects an integral investment structure, adjusted based on profits, losses, and foreign exchange fluctuations. As of the first quarter, Aker Horizons' investments are diversified, with NOK 898 million in ACC, NOK 2.06 billion in Mainstream, NOK 573 million in AAD, NOK 195 million in SuperNode, and NOK 568 million in other assets.

Upcoming Presentation

Aker Horizons’ leadership team, including CEO Lars P. Sørvaag Sperre and CFO Kristoffer Dahlberg, along with Mainstream's CFO Julie Berg, will present these developments during a scheduled presentation. The event will take place at 08:30 CET and will feature a Q&A session. This presentation is open to all interested parties and will be conducted in English. Details are available on Aker Horizons' official website.

Contact Information for Inquiries

For further inquiries, stakeholders can reach out to:
Jonas Gamre, Investor Relations, +47 97 11 82 92.
Mats Ektvedt, Media, +47 41 42 33 28.

About Aker Horizons

Aker Horizons is dedicated to advancing green energy and industry, striving to accelerate the transition towards a Net Zero future. Engaged in renewable energy development, carbon capture, and sustainable industrial assets, Aker Horizons benefits from its affiliation with the Aker group, utilizing extensive industrial and technological expertise to support global decarbonization efforts. Headquartered in Fornebu, the company serves clients across five continents.

Frequently Asked Questions

What are the financial highlights of Aker Horizons in Q1 2025?

Aker Horizons reported a net capital employed of NOK 4.3 billion and a cash position of NOK 4.1 billion.

What strategic developments occurred regarding Mainstream Renewable Power?

Mainstream Renewable Power secured financing for growth and is advancing projects totaling 350 MW in South Africa.

How is Aker Horizons innovating in technology?

SuperNode successfully tested its superconducting technology, marking progress towards enhanced energy transmission.

What initiatives are being explored in Northern Norway?

Aker Horizons is investigating the establishment of data centers in Northern Norway in collaboration with Nordkraft.

How can stakeholders reach Aker Horizons for inquiries?

Inquiries can be directed to Jonas Gamre at +47 97 11 82 92 or Mats Ektvedt at +47 41 42 33 28.

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