Arendals Fossekompani: Annual Report for 2024

22 Apr 2025 08:00 CEST

(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.

More information:
Access the news on Oslo Bors NewsWeb site

644002_Arendals Fossekompani Annual Report 2024.pdf
644002_AFK Annual Report 2024.zip