Arendals Fossekompani ASA (DE:5VZ) has released an update.
Arendals Fossekompani ASA experienced a 20% revenue increase in Q2 2024, largely credited to its property and satellite communications segments. Despite higher revenues, the company faced a significant operating loss due to impairments in its energy investments and lower electricity prices, which impacted its hydropower profits. Additionally, the company is streamlining its portfolio by selling off capital-intensive businesses, and will pay a dividend of NOK 1.00 per share for the quarter.
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