Arendals Fossekompani

Annual Report • Apr 12, 2024

Annual Integrated Report for 2023

Annual Integrated Report for 2023

Today, Arendals Fossekompani published its Integrated Annual Report for 2023.

“Overall, 2023 has been a year of improved operations and strong organic growth,” says Benjamin Golding, CEO of Arendals Fossekompani.

Total revenue for Arendals Fossekompani Group amounted to NOK 5,441 million in 2023, which is 19% higher than in 2022. The operating margin was 8%.

Portfolio companies Volue, ENRX and Tekna reported strong growth in revenues. NSSLGlobal reported steady revenues and an operating margin of 18%. Significantly lower electricity prices were somewhat offset by higher production, enabling AFK Vannkraft to contribute with substantial revenue and operating profit.

“We continued developing an advanced technology and industry portfolio that is well positioned in high-growth global megatrends and aligned with global sustainable development goals,” says Golding.

2023 marked the first year Arendals Fossekompani reported on EU Taxonomy alignment for all six environmental objectives. The portfolio of companies contributes to multiple environmental objectives.

Today, Arendals Fossekompani also published separate reports on the EU Taxonomy, Climate-Risk, Carbon Accounting, Human Rights, Activity & Reporting Obligations, Green Bond and Remuneration. All reports are published on the company’s website:

https://arendalsfossekompani.no/en/investor-relations/reports-and-presentations.

Arendals Fossekompani | www.arendalsfossekompani.no

Arendals Fossekompani (AFK) is an industrial investment company that combines industrial, technological, and capital markets expertise to identify and develop opportunities for value creation. AFK operates globally in several future-oriented industries, such as B2B software and analytics, satellite communications, industrial 3D printing, and battery and induction technology. Established in 1896, AFK has been a proud producer of renewable hydro power for more than 100 years. The company is headquartered in Arendal, Norway and listed at the Oslo Stock Exchange.

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This stock exchange announcement was published by Lars Peder Fensli, CFO of Arendals Fossekompani ASA, on 12 April 2024 at 08:00 CET.