9.10.2026 07:30:08 CEST | Hermana Holding ASA | Non-regulatory press releases
In the third quarter of 2026 Hermana Holding ASA ('Hermana') maintained a solid
financial position and continued evaluating potential investments.
Highlights of Q3 2026 and outlook:
* Attention was mainly on Hermana's royalty agreement related to the Western
Isles FPSO which is awaiting redeployment, and on further investment
opportunities which range from small- and mid-cap companies to transformational
deals.
* According to market sources the FPSO is marketed towards new customers and
commercial and technical discussions are advancing. Also, media has reported
that the vessel may again be relevant for the Greater Buchan Area in the (UK)
North Sea where the JV partners are evaluating further development.
* In the quarter, there were no operating revenues (Q3'25: NOK 0.3 million),
operating expenses were NOK 1.2 million (Q3'25: NOK 1.4 million), operating loss
was NOK 1.2 million (Q3'25: loss NOK 1.1 million), and net profit was NOK 0.0
million (Q3'25: net loss of NOK 1.5 million). By the end of the quarter, cash
and cash equivalents were NOK 102.4 million (Q3'25: NOK 60.3 million), total
equity was NOK 111.3 million (Q3'25: NOK 111.9 million), and there was no
long-term debt.
* Hermana expects more clarity on the redeployment of the Western Isles FPSO.
This represents a significant long-term revenue as Hermana is entitled to USD
0.50 per barrel of oil equivalents produced and offloaded from the FPSO for its
lifetime. Its production capacity is 44,000 barrels (boe) per day.
* Main operational priorities ahead are to manage the royalty rights, maintain
cost discipline, and evaluate investment opportunities. Any investments will
rely on an estimated return well above the cost of capital, and the company
regularly evaluates distribution of cash, also considering prevailing investment
opportunities. The company considers both its financial position and the outlook
to be positive.
Since March this year, Hermana publishes financial reports semi-annually, with
shorter updates on the first and third quarters.
CONTACTS
* Erik Sneve, Chairman of the Board, Hermana Holding ASA, es@magnoraasa.com
ABOUT HERMANA HOLDING ASA
Hermana Holding ASA is an investment and royalty company, listed on the main
list of the Oslo Stock Exchange since 2024. The company has revenues from FPSO
design rights previously owned by Sevan Marine ASA and later Magnora ASA.
Hermana has a pragmatic and opportunity-driven approach to the allocation of the
current funds and the royalty revenues.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17851030/19098390/18712/Download%20announc
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