Brief: Orron Q4 EBITDA Swings To Loss $ 0.9 Mln

Orron Energy AB

14/02/2024 07:17

Feb 14 (Reuters) - Orron Energy AB  ORRON.ST :
    * Q4 REVENUE USD 8.4 MILLION VERSUS USD 11.3 MILLION YEAR
AGO
    * ELECTRICITY PRICES REMAINED VOLATILE DURING Q4
    * REMAINDER OF QUARTER IMPACTED BY UNSEASONABLY LOW AND
VARIABLE
WIND SPEEDS
    * JANUARY HAS SHOWN A MUCH IMPROVED PICTURE, WHERE WE SEE A
COMBINATION OF HIGHER WINDS AND COLDER WEATHER LEADING TO A
STRONG START FOR COMPANY IN 2024.
    * Q4 EBITDA LOSS USD 0.9 MILLION VERSUS USD 6.4 MILLION YEAR
AGO
    * Q4 EBIT LOSS USD 4.4 MILLION VERSUS USD 3.5 MILLION YEAR
AGO
    * ACQUISITIONS IN 2022 AND 2023 ARE NOW FULLY INTEGRATED
INTO OUR
BUSINESS
    * OPERATIONAL PORTFOLIO AND CASH GENERATION IS MUCH STRONGER
WITH
KARSKRUV ONLINE
    * Q4 NET INCOME USD 8.0 MILLION VERSUS USD 0.9 MILLION YEAR
AGO
    * THERE ARE MORE OPPORTUNITIES FOR VALUE ACCRETIVE
ACQUISITIONS
    * FULL YEAR 2024 GUIDANCE FOR OPERATING EXPENSES IS MEUR 15
TO 17
    * THE G&A  EXPENSE GUIDANCE IS MEUR 9
    * GUIDANCE FOR LEGAL COSTS IN RELATION TO THE DEFENCE OF THE
COMPANY AND ITS FORMER REPRESENTATIVES  IN SUDAN LEGAL CASE IS
MEUR 8
    * CAPITAL EXPENDITURE GUIDANCE IS MEUR 14 AND MAINLY RELATES
TO
CAPITAL ALLOCATED TO GREENFIELD  ACTIVITIES
    * PROPORTIONATE POWER GENERATION AMOUNTED TO 765 GWH FOR THE
YEAR,
WHICH WAS SLIGHTLY LOWER THAN EXPECTED

Source text for Eikon:  ID:nGNE3PjpKQ 
Further company coverage:  ORRON.ST 

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