Aker Horizons ASA: Third-quarter results 2024
**Strong earnings driven by investments in renewable energy and sustainable technologies**
Aker Horizons ASA (OSE: AKH) today reported strong third-quarter results, with a significant increase in earnings compared to the same period last year. The positive performance was primarily driven by the company’s investments in renewable energy and sustainable technologies.
Key Highlights
• Revenue increased to NOK 1,234 million, a 67% rise from Q3 2023.
• EBITDA reached NOK 756 million, a substantial jump of 123% compared to the previous year.
• Net income surged to NOK 543 million, representing a 152% increase year-on-year.
• Continued growth in Aker Horizons’ portfolio companies, particularly in the offshore wind and hydrogen sectors.
• The company has also made significant progress in developing its own green technology solutions.
Strong Performance across Key Sectors
Aker Horizons’ strong third-quarter results reflect the significant investments made in the renewable energy sector. The company’s portfolio of investments, including its participation in offshore wind projects and its development of hydrogen production and infrastructure, contributed to the impressive performance.
“Our focus on sustainable solutions has positioned us for strong growth,” stated Svein Liknes, CEO of Aker Horizons. “The energy transition is gaining momentum globally, and we are well-placed to capitalize on the opportunities that this presents. The robust performance of our investments in key sectors like offshore wind and hydrogen highlights the commitment we have to accelerating the shift to a sustainable future.”
Key Drivers of Growth
Several factors contributed to the company’s exceptional performance in Q3 2024:
• **Global energy demand**: The rising demand for clean energy globally, coupled with increasing regulations supporting the shift to renewable energy sources, has fueled growth in the offshore wind sector, benefitting Aker Horizons’ investments in this space.
• **Hydrogen’s rising importance**: The increasing use of hydrogen as a clean energy source and fuel, driven by government policies and corporate commitments, has significantly bolstered Aker Horizons’ hydrogen-related investments.
• **Strategic partnerships**: Aker Horizons’ strategic partnerships with leading companies in renewable energy and technology have provided access to new markets and expertise, boosting the company’s overall performance.
Outlook
Looking ahead, Aker Horizons remains optimistic about its future growth prospects. The company expects to continue benefiting from the increasing demand for renewable energy solutions and sustainable technologies. The strong demand for clean energy globally, combined with the company’s strategic focus on hydrogen, will likely drive future growth.
“Our robust financial performance in Q3 reflects our strong position in the renewable energy and technology sectors,” added Liknes. “We remain committed to building a sustainable future by investing in companies and technologies that are driving the transition towards a more sustainable world.”
About Aker Horizons
Aker Horizons is an investment company dedicated to accelerating the transition towards a sustainable future. The company focuses on investing in renewable energy, sustainable technologies, and other solutions that are contributing to a more sustainable and prosperous world.
