North Energy ASA – Results for the second quarter and first half year 2024

29 Aug 2024 07:25 CEST

North Energy ASA ("North Energy" or "Company") recorded a comprehensive loss of
NOK 1.7 million in the second quarter of 2024 compared to a comprehensive income
of NOK 39.7 million in the same quarter last year. The loss reported this
quarter is mostly driven by a negative change in fair value of financial
investments and operational expenses offset by income from associated companies.

As per first half 2024, North Energy reported comprehensive income of NOK 11.4
million compared to an income in the first half of 2023 of NOK 46.9 million.

At the end of the second quarter 2024, North Energy's Net Asset Value (NAV) was
NOK 588.8 million. Adjusted for dividends paid, NAV increased by NOK 110.5
million (+23%) from last quarter and NOK 192.2 million (+47%) from the same
quarter last year.

The report for the second quarter and first half year 2024 is attached and
available on the Company's website, 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

More information:
Access the news on Oslo Bors NewsWeb site

626504_NE Interim report Q2 2024.pdf