Magnora ASA (FRA:4SM)
€ 2.295 -0.05 (-2.13%) Market Cap: 149.07 Mil Enterprise Value: 132.74 Mil PE Ratio: 3.05 PB Ratio: 3.90 GF Score: 56/100
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Q3 2024 Magnora ASA Earnings Call Transcript

Oct 15, 2024 / 08:00AM GMT
Release Date Price: €1.97 (-3.24%)
Erik Sneve
Magnora ASA - Chief Executive Officer

Welcome to another great quarter, Q3 2024, in Magnora. I'm Erik Sneve, the company's CEO. We had another great quarter. It's all about dividends, growth and diversification. We received NOK330 million upfront for our 40% share in Helios in July after closing the transaction. That was 16x the invested capital of NOK20 million prior to revenue sharing earn-out for the unsold land bank with future payouts from Helios' deliveries over the next five years.

On August 16, we delivered NOK4.187 in dividend. And we've passed NOK1 billion in capital return since the new management took helm in 2018. On September 5, we resumed our share buyback program of NOK50 million. On September 11, we announced greenfield entries into Germany and Italy and hiring of local and experience management.

Our portfolio in South Africa add another 800 megawatts and reached a portfolio of 4.3 gigawatts, including sold projects. We also have seen nice growth in Hafslund Magnora Sol. Magnora Offshore Wind started real-time collection of data on weather and waves on the

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