Nordic Financials (NOFIN) Q4 2024 earnings summary

Executive summary

• Completed major strategic transformation, including rebranding and renewed investment focus on Nordic markets.

• Disposed of all solar park and management businesses, shifting to an investment company model.

• Issued a NOK 2 million convertible loan and prepared a share issue to strengthen capital base.

• Appointed Svend Egil Larsen as Investment Director; CEO transition planned for June 2025.

Financial highlights

• No revenue from continuing operations in Q4 2024 due to divestment of solar assets.

• Q4 2024 operating loss from continuing operations was EUR -389,294, compared to EUR -159,347 in Q4 2023.

• Total comprehensive loss for Q4 2024 was EUR -408,990; YTD 2024 loss was EUR -1,650,666.

• Basic EPS from continuing operations was EUR -0.02 in Q4 2024.

• Discontinued operations generated EUR 2.8 million revenue and EUR 727,925 profit before disposal in 2024.

Outlook and guidance

• Pursuing new funding opportunities to invest in listed and unlisted Nordic companies.

• Optimistic about deal flow and funding prospects for 2025.