Scienza e Tecnologia
Saga Pure: Fourth quarter 2020 financial results
Saga Pure reported a net profit from continued operations in the fourth quarter 2020 of NOK 213.3 million , up from NOK 41.6 million in the corresponding quarter in 2019, driven by the positive development of Everfuel. Following the capital raises in the quarter, Saga Pure ended 2020 with a cash balance of NOK 476 million .
"Saga Pure sees significant opportunities within our green investment universe and the team has extensive technical and financial expertise, an unparalleled deal-flow and leverages on the backing and capabilities from the Ferncliff group," Simonsen continues.
After the closing of the quarter, Saga Pure completed a subsequent offering and realized the Everfuel investment with a net gain of NOK 260 million , contributing to a cash position of NOK 800 million primo February 2021 . The company has also applied for a transfer of the listing of the Saga Pure shares from Euronext Expand to Oslo Børs.
"We are currently evaluating a number of investments in companies that can take a leading position in their field, while maintaining a solid cash position to ensure financial robustness and flexibility. Additionally, Saga Pure will expand the organization further with additional industrial expertise to continue the search for the solutions that contribute to a greener future," Simonsen concludes.
Saga Pure will host an investor presentation 17 February at 08:00 CET and the presentation can be followed live at www.saga-pure.com , or at
https://channel.royalcast.com/landingpage/hegnarmedia/20210217_2/
The presentation of the financial results for the fourth quarter and the Board of Directors report are enclosed.
Bjørn Simonsen, CEO, +47 97 17 98 21 or bjorn.simonsen@saga-pure.com
Espen Lundaas, CFO, +47 92 43 14 17 or espen.lundaas@saga-pure.com
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--fourth-quarter-2020-financial-results,c3288224
The following files are available for download: