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Aker Horizons ASA: First-quarter results 2024

LYSAKER, Norway, April 30, 2024 /PRNewswire/ -- Aker Horizons ASA (OSE: AKH), a developer of green energy and industry, today announced results for the first quarter 2024. Aker Horizons' net asset value stood at NOK 8.7 billion as of 31 March 2024. The company had a cash position of NOK 3.2 billion and an undrawn credit facility of EUR 500 million, giving available liquidity of NOK 9.0 billion. First quarter 2024 main developments: Aker Carbon Capture agreed to form a joint venture with SLB and recorded a strong order intake: Agreement to form joint venture with SLB, closing expected during Q2 Continued high activity and demand for pre-FEED, FEED and studies Continued revenue growth (97% YoY), mainly driven by ongoing Big Catch™ and Just Catch™ projects Mainstream Renewable Power continued to execute on its near-term project pipeline: Andes Renovables platform in Chile continues to deliver positive commercial margin Ckhúri 109 MW onshore wind project construction in Chile resuming in Q2 New 50 MW private PPA project in South Africa expected to reach financial close in Q2 Aker Horizons Asset Development completed pre-FEED and is exploring power-intensive growth industries for sites in Northern Norway: Joint pre-FEED study with Statkraft for Narvik Green ...