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Norway's Arendals Fossekompani Q3 revenue rises 5% on high power prices

By Reuters News


Overview

  • Norway industrial investment firm's Q3 revenue rose 5% yr/yr, driven by high electricity prices and Tekna growth

  • Operating profit more than tripled, supported by improved profitability in ENRX and portfolio changes

  • Company closed previously announced Volue transaction, booking NOK 82 mln gain


Outlook

  • Arendals expects 2026 group revenue to be in line with 2025

  • Company expects 2026 operating profit to be significantly higher than 2025

  • Company says strong balance sheet provides flexibility to pursue new opportunities


Result Drivers

  • ELECTRICITY PRICES & TEKNA - Co said higher power prices and Tekna growth drove revenue increase

  • ENRX PROFITABILITY & PORTFOLIO CHANGES - Co attributed margin improvement to better ENRX profitability, high power prices and less exposure to early-phase firms

  • TEKNA & HYDROPOWER PERFORMANCE - CEO said Tekna's strong growth and hydropower profits contributed to results


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenues

NOK 892 mln

Q3 EBIT

NOK 104 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the electric utilities peer group is "buy"

  • Wall Street's median 12-month price target for Arendals Fossekompani ASA is NOK239.00, about 26.5% above its November 9 closing price of NOK189.00


Reuters Recommended Reads

  • Nov 9 - Norway reins in data centre industry amid AI boom

  • Nov 9 - Nordic region risks winter energy cost spikes, Denmark's Mind Energy says

  • Nov 10 - Norway's Leroy Seafood Q3 operational EBIT jumps on lower farming costs, cuts 2026 forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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