Results for the first quarter 2024

North Energy ASA (“North Energy” or “Company”) recorded a comprehensive income of NOK 13.1 million in the first quarter of 2024 compared to a comprehensive loss of NOK 7.2 million in the same quarter last year. The income reported this quarter is mostly driven by a positive change in fair value of financial investments offset by operational expenses and loss from associated companies.

At the end of the first quarter 2024, North Energy’s total investment portfolio had a market value NOK 497.5 million, up from NOK 439.4 million at the end the first quarter last year. The portfolio consists of industrial holdings, listed financial investments and other financial investments.

The report for the first quarter 2024 is available here.