Aker Carbon Capture WKN: A2QBSN ISIN: NO0010890304 Kürzel: ACC Forum: Aktien User: MrVistos
Financial results Aker Carbon Capture saw continued revenue growth through the fourth quarter. Revenues reached NOK 239 million in the period, which was up 85% compared to the same period last year. The increase in revenues was mainly driven by progress on the Brevik CCS project, Twence CCU project, UK FEED projects, and the CO2 Hub Nord MTU campaign with Elkem. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in the fourth quarter was negative NOK 47 million, compared with negative NOK 66 million in the same period last year. The Twence CCU project started to recognize profit in the period. Both the Brevik CCS project and Twence CCU project are now recognizing profit and are expected to continue to deliver positive results through 2023. The overall negative EBITDA continued to be driven by high sales and tender activity and ongoing investment into technology and innovation, including digitalization. Aker Carbon Capture ended the fourth quarter with a solid cash position at NOK 1.1 billion, and equity remained strong at NOK 0.9 billion. The order backlog closed at NOK 1.3 billion
Financial results Aker Carbon Capture saw continued revenue growth through the fourth quarter. Revenues reached NOK 239 million in the period, which was up 85% compared to the same period last year. The increase in revenues was mainly driven by progress on the Brevik CCS project, Twence CCU project, UK FEED projects, and the CO2 Hub Nord MTU campaign with Elkem. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in the fourth quarter was negative NOK 47 million, compared with negative NOK 66 million in the same period last year. The Twence CCU project started to recognize profit in the period. Both the Brevik CCS project and Twence CCU project are now recognizing profit and are expected to continue to deliver positive results through 2023. The overall negative EBITDA continued to be driven by high sales and tender activity and ongoing investment into technology and innovation, including digitalization. Aker Carbon Capture ended the fourth quarter with a solid cash position at NOK 1.1 billion, and equity remained strong at NOK 0.9 billion. The order backlog closed at NOK 1.3 billion
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