Highlights 2023
Due to seasonality of our business the focus of the report is full-year 2023
results.
2023 group revenues came in at NOK 71.1 million with an EBITDA loss of NOK 8.3
million. The operating loss stems mainly from Norwegian project development
costs of approximately NOK 16 million.
Full year revenues of the Dutch Service division were NOK 54.5 million,
representing a 34 per cent year-on-year growth. 2023 EBITDA was NOK 6.6 million
excluding intercompany costs transfers.
Full year revenues of the Dutch Power division came in at NOK 12.4 million, down
53 per cent compared to 2022 due to lower electricity prices and lower power
production. 2023 EBITDA was NOK 10.9 million excluding intercompany costs
transfers.
2023 Group cash flow from operations was positive with NOK 16.2 million. Net
cash flow for the year after down-payment of debt and investments was positive
with NOK 1.6 million.
Energeia, Eidsiva Vekst and Hydro Rein announced in November a collaboration to
develop utility-scale solar projects in selected areas in Norway.
By January 2024 Energeia group had received reservation and/or priority for
connection of power plants in existing and planned electricity grid for 8 solar
PV power plants representing an installed capacity of 520 MW. Grid connection is
a requirement for a concession application to be processed by NVE.
Energeia delivered the concession application for the agrivoltaic Seval Skog
power plant to NVE the 4th of March 2024. The concession application is a public
document and will be published on the Company's website.
For further information, please contact:
CEO, Viktor Jakobsen, email: viktor@energeia.no and telephone: +47 916 11 009
Deputy CEO, Jarl Egil Markussen, email: jarl@energeia.no and telephone: +47 480
23 214
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.