Aker Horizons ASA Reports First Quarter Results for 2025
Aker Horizons ASA (OSE: AKH), a prominent name in green energy development, has shared its results for the first quarter of 2025. The company has reported a net capital employed amounting to NOK 4.3 billion, indicating a decrease of NOK 1.7 billion compared to the previous quarter. This shift is primarily due to dividends distributed by Aker Carbon Capture ASA (ACC), along with the company's share forecast from its diverse portfolio.
As for its monetary position, Aker Horizons stated it has a cash reserve of NOK 4.1 billion. Additionally, the company had access to an undrawn credit facility valued at EUR 500 million, although this facility has since expired and will not be renewed.
Main Highlights from the Portfolio
The first quarter unveiled several significant developments for Aker Horizons:
Dividend Payments and Contributions from Portfolio
- Aker Carbon Capture ASA issued a dividend payment of NOK 1.26 billion in March and NOK 0.26 billion in May.
- ACC earned NOK 71 million from SLB, linked to the Hafslund Celsio contract.
- SLB Capturi is experiencing heightened commercial activity, with multiple tenders currently active.
Refinancing and Project Updates
Aker Horizons successfully completed refinancing with Mainstream Renewable Power (MRP), ensuring financial backing for its growth in established markets.
- Three energy projects totaling 350 MW are nearing financial closure in the upcoming 18 months.
- MRP has sold a project portfolio of 675 MW in Colombia to local energy operator Celsia.
- The company has appointed Morten Henriksen as the new CEO of MRP, relocating its corporate headquarters from Dublin to Oslo.
Exploring New Ventures
Aker Horizons is also evaluating potential data center initiatives in northern regions, collaborating with Nordkraft. This endeavor could take advantage of the Kvandal site in Narvik, which is prepared for development. The Narvik Green Ammonia project awaits approval for further grid capacity, pending feedback on its application before moving ahead.
Testing Innovations in Superconducting Technology
SuperNode, another entity within the group, has successfully tested its superconducting system at full scale. A prototype was evaluated, with plans for a demonstration over a 30-meter span scheduled for mid-2025.
Financial Overview and Future Outlook
Aker Horizons' net capital employed reflects a diverse portfolio, predominantly consisting of unlisted assets. This includes NOK 898 million invested in ACC, NOK 2.06 billion in Mainstream, NOK 573 million in AAD, NOK 195 million in SuperNode, alongside NOK 568 million in various other assets. The strategic moves made by the company aim to augment its presence in the green energy sector, gearing towards a sustainable future.
During a presentation led by CEO Lars P. Sørvaag Sperre and CFO Kristoffer Dahlberg, key developments from Q1 2025 will be discussed further. The session will also include a Q&A section open to all interested parties, providing insights into the company’s forward trajectory.
Frequently Asked Questions
What are the key financial results for 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 major dividends were received by Aker Horizons?
The company received a NOK 1.26 billion dividend in March and NOK 0.26 billion in May from Aker Carbon Capture ASA.
What developments are underway with Mainstream Renewable Power?
Mainstream completed its refinancing and has three ongoing projects in South Africa moving toward financial closure.
What innovation has SuperNode achieved recently?
SuperNode tested its full-scale superconducting system successfully and plans a demonstration project for mid-2025.
What is Aker Horizons’ strategic focus for the future?
The company aims to accelerate the transition to Net Zero through investment in renewable energy and sustainable technologies.
