Arendals Fossekompani

Report Publication Announcement • Apr 22, 2025

Arendals Fossekompani: Annual Report for 2024

Arendals Fossekompani: Annual Report for 2024

(Arendal, 22 April 2025) Today, Arendals Fossekompani published its Annual Report, which includes the Corporate Governance Report. Also published is the Remuneration Report for 2024.

Consolidated revenue for Arendals Fossekompani Group amounted to NOK 4,363 million, a 12% increase compared to 2023. Operating profit (EBIT) was NOK 394 million, corresponding to an operating margin of 9%.

2024 was marked by record-high results in portfolio companies NSSLGlobal and ENRX, along with top-line growth and margin expansion on adjusted EBITDA level for Volue. Revenue and operating profit from AFK Vannkraft were significantly down from 2023 due to lower power prices.

In 2024, Arendals Fossekompani delisted Volue together with new partners, Advent International and Generation Investment Management, positioning Volue for further growth and value creation. The transaction, priced at NOK 42 per share, resulted in net cash proceeds of NOK 1 billion.

To optimise and de-risk the portfolio, Arendals Fossekompani sold the renewable development company Vergia to Swiss Life Asset Managers and ceased investment in battery company, Commeo.

“In 2024 we focused on improving the operational performance of our businesses and increasing the robustness of our portfolio. Entering 2025 we have a more focused and balanced portfolio, new partners, improved operations and a strong balance sheet,” says Benjamin Golding, Chief Executive Officer at Arendals Fossekompani.

The Annual report is attached as a pdf file. All reports are published on the company's website: https://arendalsfossekompani.no/en/investor-relations/reports-and-presentations.

ENDS

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For inquiries or additional comments, please contact:

Benjamin Golding, Chief Executive Officer: +47 974 04 496

Hanne Watts, VP Communications & Sustainability: +47 974 04 496

About Arendals Fossekompani | www.arendalsfossekompani.no/en

Arendals Fossekompani is a long-term industrial investment company. We are active owners and developers of companies enabling the energy transition and next generation industrial technologies. Established in 1896, we have been a proud producer of renewable hydropower for more than 100 years. Arendals Fossekompani is headquartered in Arendal and has been listed at the Oslo Stock Exchange since 1913.

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This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.