Norway's Arendals Fossekompani Q3 revenue rises 5% on high power prices
Norway's Arendals Fossekompani Q3 revenue rises 5% on high power prices
Overview
Norway industrial investment firm's Q3 revenue rose 5% yr/yr, driven by high electricity prices and Tekna growth
Operating profit more than tripled, supported by improved profitability in ENRX and portfolio changes
Company closed previously announced Volue transaction, booking NOK 82 mln gain
Outlook
Arendals expects 2026 group revenue to be in line with 2025
Company expects 2026 operating profit to be significantly higher than 2025
Company says strong balance sheet provides flexibility to pursue new opportunities
Result Drivers
ELECTRICITY PRICES & TEKNA - Co said higher power prices and Tekna growth drove revenue increase
ENRX PROFITABILITY & PORTFOLIO CHANGES - Co attributed margin improvement to better ENRX profitability, high power prices and less exposure to early-phase firms
TEKNA & HYDROPOWER PERFORMANCE - CEO said Tekna's strong growth and hydropower profits contributed to results
Company press release: ID:nObi0ByFda
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenues |
| NOK 892 mln |
|
Q3 EBIT |
| NOK 104 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy"
Wall Street's median 12-month price target for Arendals Fossekompani ASA is NOK239.00, about 26.5% above its November 9 closing price of NOK189.00
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)