Brief: Carbon Transition Q2 Net Result Turns To Loss At USD 4.0 Mln

Fjord Defence ASA

25/08/2022 06:09

Aug 25 (Reuters) - Carbon Transition ASA  CARBN.OL :
    * Q2 REVENUE USD 1.8 MILLION VERSUS USD 0.4 MILLION YEAR AGO
    * CARBON TRANSITION ANNOUNCES Q2 2022 RESULTS
    * Q2 NET LOSS USD 4.0 mln vs USD NET PROFIT USD 15.0 mln
YEAR AGO
    * FOR THE QUARTER, WE TOOK A NON-CASH WRITE-DOWN OF USD 4.5
MILLION.  APPROXIMATELY USD 1.4 MILLION OF THIS WRITE-DOWN IS A
RESULT OF THE SIGNIFICANT STRENGTHENING OF THE US DOLLAR
    * EXCLUDING THE EFFECTS OF FOREIGN CURRENCY ADJUSTMENTS, 
THE
ENTIRE WRITE-DOWN IS RELATED TO THE CHANGE IN THE STOCK PRICE OF
CO2 CAPSOL (EURONEXT GROWTH OSLO) FROM NOK 16.59 PER SHARE AS OF
31 MARCH 2022 TO NOK 9.18  PER SHARE AS OF 30 JUNE 2022.
    * CONFLICT IN THE UKRAINE IS CONTINUING TO PUT PRESSURE ON
ENERGY 
PRICES AND HAS ALSO INCREASED THE FOCUS ON ENERGY SECURITY.
    * HIGHER ENERGY PRICES  AND THE GROWING FOCUS ON SECURE
ENERGY
SUPPLY IS EXPECTED TO INCREASE OIL SECTOR  SPENDING WHICH IS
POSITIVE FOR THE VALUE OF CARBON TRANSITION’S SEISMIC
MULTI-CLIENT  ASSETS

Source text for Eikon:  ID:nObiLnd65a 
Further company coverage:  CARBN.OL 

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