North Energy ASA - Results for the fourth quarter 2022

15 Feb 2023 07:15 CET

15.2.2023 07:15:00 CET | North Energy ASA | Half yearly financial reports and
audit reports / limited reviews

North Energy ASA ("North Energy" or "Company") recorded a comprehensive loss of
NOK 24.3 million in the fourth quarter of 2022 compared to a comprehensive loss
of NOK 24.1 million in the same quarter last year. The loss reported this
quarter is mostly driven by a negative change in the value of financial
investments and operational expenses.

At the end of the fourth quarter 2022, North Energy's total investment portfolio
had a market value NOK 409.8 million, up from NOK 326.3 million at the end of
same quarter last year. The portfolio consists of industrial holdings, listed
financial investments and other financial investments.

The Board of Directors has adopted a new dividend policy, which states that "The
Company intends to distribute an annual dividend that approximates 3% of the
year-end Net Asset Value". In accordance with the new policy, the Board intends
to propose a dividend of NOK 0.10 per share for 2022.

The report for the fourth quarter 2022 is attached and available on the
Company's website, www.northenergy.no - http://www.northenergy.no.

DISCLOSURE REGULATION

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

CONTACTS

* Rune Damm, CFO, (+47) 4166 6685, rune.damm@northenergy.no

ATTACHMENTS

NE Interim report Q4 2022.pdf -
https://kommunikasjon.ntb.no/ir-files/17847319/2110/2833/NE%20Interim%20report%2
0Q4%202022.pdf

More information:
Access the news on Oslo Bors NewsWeb site

582433_en_NE Interim report Q4 2022.pdf