Aker Carbon Capture (ACC) Q1 2025 earnings summary

Executive summary

• Q1 2025 ended with NOK 1.9 billion in cash and NOK 2.1 billion in equity, reflecting a robust financial position.

• Net profit for Q1 2025 was NOK 4,796 million, primarily due to a NOK 71 million gain from discontinued operations, though another report states net profit as NOK 79 million including the same gain.

• Extraordinary General Meeting approved a share capital reduction and extraordinary cash dividend of NOK 3.5 billion.

• Ongoing support for SLB Capturi's carbon capture business through minority ownership.

Financial highlights

• Revenues for Q1 2025 were NOK 405 million, with operating expenses at NOK 455 million.

• Net financial items included NOK 49 million in interest income and NOK 16 million net gain from financial derivatives.

• Net profit for Q1 2025 was NOK 4,796 million, compared to a net loss of NOK 47 million in Q4 2024.

• Cash position at NOK 1.9 billion at quarter end.

• Equity position at NOK 2.1 billion.

Significant events and developments

• On 27 January 2025, a major contract award triggered a NOK 71 million milestone earn-out, recognized as additional gain from discontinued operations.

• SLB Capturi awarded EPCIC contract for Hafslund Celsio’s Oslo facility.

• First modular carbon capture plant handed over at Twence’s facility in the Netherlands.

• CO280 and Microsoft agreement for 3.7 million tonnes of CDR over 12 years.