Magnora ASA

Earnings Release • Apr 14, 2025

Magnora ASA: Receipt of USD 4.3 million payment from legacy license agreement

14.4.2025 15:27:03 CEST | Magnora ASA | Non-regulatory press releases

Magnora is pleased to announce receipt of the third of four payments related to our legacy contract with Shell UK Ltd.

Reference is made to the press release for achievement of this milestone on 4 February 2025.

The revenue was recognised in Q1 2025 and relates to the design from our legacy technology business which was sold in 2018.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

• Erik Sneve, CEO, email: es at magnoraasa.com
• Torstein Sanness, Chairman of the Board, email: sanness at sf-nett.no

About Magnora ASA

Magnora ASA (OSE: MGN) is a renewable-energy group developing wind, solar and battery storage projects. Magnora has operations in Europe and Africa through the portfolio companies Hafslund Magnora Sol AS, Magnora Offshore Wind AS, Magnora Germany, Magnora Italy Srl, Magnora Solar PV UK, Magnora South Africa, and AGV. Magnora also has earn-out revenues related to the former portfolio companies Helios Nordic Energy and Evolar, and a financial ownership in Hermana Holding. Magnora is listed on the main list of the Oslo Stock Exchange under the ticker MGN.

Attachments

Download announcement as PDF.pdf