Aker Horizons ASA Reports Positive Fourth Quarter Results for 2024
Aker Horizons ASA Reports Positive Fourth Quarter Results for 2024
Aker Horizons ASA (OSE: AKH) has recently published its results for the fourth quarter of 2024, showcasing its robust commitment to green energy and sustainable industrial development. As the company continues to grow, its innovative projects and financial strategies have positioned it as a leader in the transition to net zero.
Financial Performance
In Q4 2024, Aker Horizons reported net capital employed of NOK 5.9 billion, slightly down by NOK 0.2 billion from the previous quarter. This reflects the company's share of results across its portfolio companies. Notably, Aker Horizons maintained a strong cash position, reporting NOK 2.9 billion alongside an undrawn credit facility of EUR 500 million, resulting in total available liquidity of NOK 8.8 billion.
The performance of Aker's portfolio is significant, with several companies showing promising progress. For instance, Aker Carbon Capture proposed a substantial dividend of NOK 3.5 billion, indicating healthy returns to shareholders. Furthermore, newly awarded contracts, like that between SLB Capturi and Hafslund Celsio, showcase the company's dedication to advancing carbon capture technologies.
Major Developments in the Portfolio
Aker Horizons' portfolio companies are making strides in various initiatives:
- - Aker Carbon Capture has made significant progress with industrial contracts and is on track to implement its carbon capture solutions effectively.
- - Mainstream Renewable Power has two projects under development in South Africa, projected to reach Commercial Operations Date (COD) by Q2 2025 and early 2026. These projects are an essential part of Aker's sustainability goals and underline the company's commitment to expanding its renewable energy footprint.
- - Positive results were also observed in the Andes portfolio with improved margins, thanks to rigorous cost optimization efforts targeting a 65% reduction in payroll and overhead expenses.
- - In the ammonia sector, Aker Horizons Asset Development finalized a term sheet for a significant offtake agreement with Narvik Green Ammonia, reinforcing its strategic partnerships with major utilities across Europe.
Upcoming Innovations
Aker's initiative, SuperNode, is set to take significant steps toward practical applications of superconducting technology. The company is gearing up for full-scale testing of its superconducting prototypes in 2025, with real-world demonstrations planned to occur in cooperation with National Grid at their Deeside facility.
Through these developments, Aker Horizons has clearly positioned itself as an innovator within the green energy industry, leveraging enhanced technological expertise to address climate challenges. This reflection on its financial health and project advancements paints a promising picture for investors and stakeholders alike.
Leadership Presentation
To provide further insights, Aker Horizons’ CEO Lars P. Sørvaag Sperre and CFO Kristoffer Dahlberg, along with Mainstream's CFO Julie Berg, are scheduled to present the detailed outcomes and developments from the fourth quarter of 2024. This presentation is set to occur at 08:30 CET and will be made accessible via the company's website for stakeholders to tune in.
Conclusion
With a strong liquidity position and a diverse portfolio geared towards renewable and sustainable technologies, Aker Horizons ASA continues to forge ahead in making significant contributions to the green energy landscape. Through strategic partnerships, innovative projects, and a focus on decarbonization, Aker stands as a beacon for potential future growth within the green sector, aiming to foster a sustainable future across five continents.
Topics Energy）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.