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Magnora (MGN) investor relations material
Magnora Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record origination growth in 2025, expanding into the data center market and increasing the development portfolio to 10.4 GW, a 60% year-over-year increase from 2024.
Strategic shift towards data centers in the Nordics, securing 210 MW in Norway and Finland, and 315 MW in Sweden, with an operational data center in Halden, Norway.
Divested all shares in Hermana Holding to optimize capital allocation towards renewables and data centers; maintain a capital-light, profitable, and debt-free business model.
Financial highlights
Combined cash position of NOK 316 million at year-end 2025; ending cash balance at NOK 166.4 million after investment and financing activities.
Profit before tax was NOK 12.2 million, down from NOK 269 million in 2024, impacted by Hermana revenue flow-through.
26% annual average shareholder return since 2020; over NOK 1 billion returned to shareholders in cash and shares.
21% return on equity since 2020.
Outlook and guidance
Targeting 12 GW development portfolio by end of 2026, with 2,500 MW of mature-stage projects currently for sale or under marketing.
Prioritizing data centers in the Nordics, BESS in Southern and Central Europe, and onshore wind in South Africa.
Strategic alternatives under consideration for further data center growth due to strong market interest.
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