Aker Carbon Capture (ACC) Q4 2024 earnings summary

Executive summary

• Q4 2024 marked by significant financial changes, including large discontinued operations, restatements for prior quarters, and a reported net profit of NOK 21 million.

• Ended Q4 2024 with NOK 4.6 billion in cash and an equity position of NOK 5.5 billion.

• Preliminary consolidated numbers for 2024 reflect major shifts in both assets and liabilities.

• Board proposes an extraordinary cash dividend of NOK 5.80 per share, totaling NOK 3.5 billion.

Financial highlights

• Q4 2024 net profit reached 4,888,652 NOK, driven by discontinued operations gains, while another report states NOK 21 million.

• Full-year 2024 net profit was 4,795,518 NOK, a substantial increase from prior periods.

• Cash and cash equivalents at year-end 2024 stood at NOK 4.6 billion, up from 1,111,853 NOK at the start of the year.

• Operating profit from continuing operations remained negative for most quarters, with Q4 2024 at (7,463) NOK.

• Total assets at year-end 2024 were 5,734,209 NOK, with equity at NOK 5.5 billion.

Significant events and developments

• Major sale of subsidiaries in 2024 resulted in a one-time gain and significant cash inflow.

• Discontinued operations had a transformative impact on the financial statements.

• SLB Capturi, the joint venture, achieved mechanical completion of the world's first full-scale carbon capture facility at a cement plant in Norway, with commissioning underway and operations planned for 2025.

• In January 2025, SLB Capturi and Aker Solutions secured an EPCIC contract for a carbon capture solution at Hafslund Celsio's waste-to-energy facility in Oslo.

• Completed commissioning and handover of the first modular carbon capture plant at Twence's waste-to-energy facility in the Netherlands.