Brief: Orron Energy Q2 Net Result From Continuing Operations Up At $29.5 Mln

Orron Energy AB

05/08/2022 06:59

Aug 5 (Reuters) - Orron Energy AB  ORRON.ST :
    * ORRON ENERGY (FORMERLY LUNDIN ENERGY) REPORT FOR THE
SIX-MONTH
PERIOD ENDED 30 JUNE 2022
    * Q2 NET RESULT FROM CONTINUING OPERATIONS $29.5 MILLION
VERSUS
LOSS $3.5 MILLION YEAR AGO 
    * COMPANY HAD A STRONG CASH POSITION AND ROBUST BALANCE
SHEET AT
END OF REPORTING PERIOD WITH NO DEBT
    * LEIKANGER HYDROPOWER PLANT DELIVERED ABOVE EXPECTATIONS
WITH NET
POWER GENERATION OF 53 GWH FOR REPORTING PERIOD
    * DEVELOPMENT OF KARSKRUV WIND FARM IS ON TRACK AND IS
EXPECTED TO
DELIVER ADDITIONAL NET ANNUAL POWER GENERATION OF 290 GWH BY END
2023
    * KARSKRUV IS A KEY ASSET IN OUR RENEWABLES PORTFOLIO THAT
WILL
ADD APPROXIMATELY 290 GWH TO COMPANY'S ANNUAL POWER GENERATION
    * H1 NET POWER GENERATION AMOUNTED TO 83 GWH FOR THE
REPORTING
PERIOD, AT AN ACHIEVED AVERAGE POWER PRICE OF EUR 127 PER MWH
    * SECOND HALF 2022 GUIDANCE: POWER GENERATION 150 GWH
    * SECOND HALF 2022 GUIDANCE: OPERATING COST MUSD 2
    * SECOND HALF 2022 GUIDANCE: GENERAL AND ADMINISTRATIVE
EXPENSES
MUSD 7
    * SECOND HALF 2022 GUIDANCE: RENEWABLES INVESTMENTS MUSD 10
    * H1 PRODUCTION AMOUNTED TO 176 THOUSAND BARRELS OF OIL
EQUIVALENTS PER DAY (MBOEPD) FOR THE REPORTING PERIOD, AT THE
TOP END OF THE GUIDANCE RANGE

Source text for Eikon:  ID:nGNE3KcvxM 
Further company coverage:  ORRON.ST 

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