The latest announcement is out from Magnora ASA ( (SVMRF) ).
Magnora ASA reported a net profit of NOK 579 million for 2024, significantly boosted by the demerger of its legacy business Hermana through an IPO. The company has raised its portfolio guidance to 10 GW for 2025 and continues to distribute a quarterly dividend of NOK 0.187 per share. Magnora has expanded its operations by entering the Italian Battery Energy Storage Systems (BESS) market and has seen substantial growth in its landbank, reaching 7.5 GW by February 2025. The company is actively engaged in sales, farm-downs, and partnership discussions across its businesses, with a focus on organic growth and strategic alliances. Despite returning a record NOK 300 million in dividends, Magnora maintains a strong financial position with zero debt and a NOK 150 million credit line, positioning it well for continued growth and expansion in the renewable energy sector.
More about Magnora ASA
Magnora ASA is a renewable-energy group that develops wind, solar, and battery storage projects. The company operates in Europe and Africa through various portfolio companies and is listed on the Oslo Stock Exchange under the ticker MGN.
YTD Price Performance: -12.24%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $138.5M
Learn more about SVMRF stock on TipRanks’ Stock Analysis page.