Energia
Saga Pure: First quarter 2021 financial results
Saga Pure reported a net profit from continued operations in the first quarter 2021 of NOK 147.8 million , up from NOK -101.0 million in the corresponding quarter in 2020, driven by the positive development in the investment portfolio, representing a return on equity of 16 percent. The company had NOK 833 million in cash at the end of the quarter.
During the first quarter, Saga Pure invested in:
"Focus on renewable energy and the transition towards a more sustainable future is gaining momentum, supported by ever-stronger policy measures from governments around the world. Alongside evaluating a number of investment opportunities Saga Pure is focused on building a team of strong and broad industrial competence in accordance with the new investment strategy. With no interest-bearing debt, and substantial cash following the disposal of the former investments and recent private placements, Saga Pure is well positioned for pursuing new possibilities for our green and sustainable investment strategy," Simonsen concludes.
Saga Pure will host an investor presentation 10 May at 10:00 CET and the presentation can be followed live at www.saga-pure.com , or at https://channel.royalcast.com/landingpage/hegnarmedia/20210510_3/
The presentation of the financial results for the first quarter 2021 and the Board of Directors report are enclosed.
Bjørn Simonsen, CEO, +47 97 17 98 21
Espen Lundaas, CFO, +47 92 43 14 17
Saga Pure ASA is an investment company focusing on opportunities within renewable energy, hydrogen, circular economy and CO2-reduction.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/saga-pure-asa/r/saga-pure--first-quarter-2021-financial-results,c3343545
The following files are available for download: