Brief: Ox2 Sells Stake To Ingka Investments, Updates Earnings Guidance For 2023

OX2 AB (publ)

29/11/2023 07:13

Nov 29 (Reuters) - OX2 AB (publ)  OX2SE.ST :
    * OX2 SELLS STAKE IN NEXT GENERATION SWEDISH OFFSHORE WIND
PORTFOLIO TO INGKA INVESTMENTS AND UPDATES EARNINGS GUIDANCE FOR
2023
    * FOLLOWING TRANSACTION OX2 EXPECTS OPERATING INCOME FOR
FULL YEAR
2023 TO BE APPROXIMATELY 1,000 MSEK
    * TRANSACTION IS EXPECTED TO IMPACT OX2'S OPERATING INCOME
POSITIVELY WITH APPROXIMATELY 200 MSEK* IN 2023
    * OX2 HAS AGREED WITH INGKA INVESTMENTS, INVESTMENT ARM OF
INGKA
GROUP - BIGGEST IKEA RETAILER - TO SELL A 49 PERCENT STAKE IN
NEXT GENERATION SWEDISH OFFSHORE WIND PROJECTS
    * TRANSACTION INCLUDES OFFSHORE PROJECTS PLEIONE LOCATED
EAST OF
GOTLAND AND NEPTUNUS LOCATED SOUTHEAST OF BLEKINGE WHICH
AMOUNTED TO 2.4 GW IN OX2'S DEVELOPMENT PORTFOLIO IN Q3 2023
    * ACCORDING TO AGREEMENT, OX2 WILL RECEIVE AN INITIAL
PAYMENT OF
AROUND 230 MSEK
    * FOLLOWING SUCCESSFUL PERMITTING OX2 WILL IN ADDITION
RECEIVE A
PRE-AGREED DEFERRED CONSIDERATION OF APPROXIMATELY 0.7 MSEK* PER
MW FOR 49 PERCENT OF PLANNED CAPACITY

Source text for Eikon:  ID:nMFN6dYfw9 
Further company coverage:  OX2SE.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))