North Energy ASA (“North Energy” or “Company”) recorded a comprehensive loss of NOK 1.7 million in the second quarter of 2024 compared to a comprehensive income of NOK 39.7 million in the same quarter last year. The loss reported this quarter is mostly driven by a negative change in fair value of financial investments and operational expenses offset by income from associated companies.
As per first half 2024, North Energy reported comprehensive income of NOK 11.4 million compared to an income in the first half of 2023 of NOK 46.9 million.
At the end of the second quarter 2024, North Energy’s Net Asset Value (NAV) was NOK 588.8 million. Adjusted for dividends paid, NAV increased by NOK 110.5 million (+23%) from last quarter and NOK 192.2 million (+47%) from the same quarter last year. The report for the second quarter and first half year 2024 is available here.