Brief: Orron Energy Q2 Consolidated EBITDA Loss At EUR 2.1 Mln

Orron Energy AB

09/08/2023 06:45

Aug 9 (Reuters) - Orron Energy AB  ORRON.ST :
    * Q2 CONSOLIDATED REVENUE EUR 5.9 MILLION 
    * REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2023
    * KARSKRUV PROJECT IS ON TRACK FOR DELIVERY IN Q4 OF 2023
    * WE REMAIN FIRMLY ON TRACK TO MEET OUR GUIDANCE AND
PRODUCTION
ESTIMATES FOR YEAR
    * PROJECT DELIVERY HAS BEEN OUTSTANDING ON OUR KARSKRUV WIND
FARM
    * OUR VIEW ON LONG TERM ELECTRICITY PRICES REMAINS UNCHANGED
    * EXPECT INCREASED REVENUES FROM SE4 PRICE AREA IN SWEDEN
ONCE
KARSKRUV IS ONLINE LATER IN 2023, ADDING AROUND 40 PERCENT TO
OUR TOTAL POWER GENERATION
    * CONTINUE TO SEE ACCRETIVE DEALS IN MARKET AND HAVE SECURED
TWO
ACQUISITIONS DURING Q2
    * WE REMAIN ON TRACK TO DELIVER OUR PRODUCTION ESTIMATE OF
800 GWH
FOR FULL YEAR
    * DELIVERED IN LINE WITH GUIDANCE FOR THE REPORTING PERIOD
    * 2023 GUIDANCE FOR OPERATING EXPENSES IS BETWEEN MEUR
12-14,
WHERE A PORTION OF THE OPERATING EXPENSES WILL VARY BASED ON
ELECTRICITY PRICES
    * 2023 GUIDANCE: G&A EXPENSE GUIDANCE IS MEUR 10
    * 2023 GUIDANCE: GUIDANCE FOR LEGAL COSTS IN RELATION TO THE
DEFENCE OF THE COMPANY AND ITS FORMER REPRESENTATIVES IN THE
SUDAN LEGAL CASE IS MEUR 8
    * 2023 GUIDANCE: CAPITAL EXPENDITURE GUIDANCE IS MEUR 80
    * Q2 CONSOLIDATED EBITDA LOSS EUR 2.1 MILLION
    * Q2 NET LOSS EUR 7.9 MILLION

Source text for Eikon:  ID:nNDLWyvkc 
Further company coverage:  ORRON.ST 

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