Nordic Financials ASA — Earnings Release 2020

Feb 26, 2021

Interim report Q4 2020

Interim report Q4 2020

26 February 2021

Aega ASA (Aega) reported revenues of EUR 106,829 in the fourth quarter, up from EUR 80,183 in the same quarter last year. The EBITDA-result in the fourth quarter was EUR -167,197, compared to EUR -147,673 last year. Several key investments have been made in fourth quarter.

“Q4 is a quarter with low solar irradiation. Nevertheless, we see that going forward our power production continues to increase, we concluded the investment in Norsk Solar AS and signed binding agreements to acquire two solar parks in Q4. The purchase of these two parks were settled in February 2021. Together with the existing portfolio these assets will contribute to higher revenues and value going forward,” says Nils P. Skaset, CEO of Aega.

Aega reported revenues of EUR 106,829 in the fourth quarter (Q4 2019: EUR 80,183). The EBITDA-result in the fourth quarter was EUR -167,197 (EUR -147,673), with a net profit of EUR -462,720 (EUR -193,330). Total power generation in fourth quarter 2020 was 420,140 kWH (187 086 kWh).

Subsequent to the fourth quarter, Aega has finalized the purchase of two solar parks on Sardinia. The company has also employed a new CFO that will be in place from 1 April.

“Our aim is clearly to develop and grow the portfolio further. Near term goals are to keep the momentum on our M&A activity in Italy and contribute to the development of our financial investments”, Skaset concludes.

ENDS

For further information, please contact:

Nils Petter Skaset, CEO of Aega ASA, tel: +47 951 88 154, e-mail: ceo@aega.no