Aker Horizons ASA: Fourth-quarter results 2023



LYSAKER, Norway, Feb. 15, 2024 /PRNewswire/ — Aker Horizons ASA (OSE: AKH), a developer of green energy and industry, today announced results for the fourth quarter 2023. Aker Horizons’ net asset value stood at NOK 10.8 billion as of 31 December 2023. The company had a cash position of NOK 3.3 billion and an undrawn credit facility of EUR 500 million, giving available liquidity of NOK 8.9 billion.

Fourth-quarter 2023 main developments:

Aker Carbon Capture recording strong order intake, progressing projects under construction:

Strong momentum with several awards including Hafslund Oslo Celsio CCS: Just Catch 400 FEED
Order backlog increased to NOK 2.6 billion (100% YoY), high commercial activity across Europe and United States
Continued revenue growth (139% YoY), mainly driven by ongoing Big Catch and Just Catch projects

Mainstream Renewable Power streamlining operations and executing on near-term pipeline:

Concluded reorganization in Chile providing stable financial foundation for Andes Renovables platform
Financial close reached on 97.5 MW solar corporate PPA with Sasol and Air Liquide in South Africa
Organizational review on track, with focus on cost base reduction and prioritization of projects

Aker Horizons Asset …

Full story available on Benzinga.com


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