Aega ASA (Aega) has today published its financial results for the first quarter
of 2022.
 
Aega had revenues of EURt 596 in the first quarter, up from EURt 190 in the same
period last year. The EBITDA result in the first quarter was EURt 210, compared
to EURt -174 the year before. 

"I am very pleased that we in the first quarter, which is the quarter with the
lowest solar irradiation and thus power production, we deliver positive EBITDA
and positive cash flow from operations. When we in addition prove that we are a
green company that grows, have moderate debt, good producing power plants and
good cost control - then I think it's time to lift once gaze and look positively
to the future. Our niche in the secondary market in Italy is good for us and we
are able to deliver a return (IRR) that we do not often see in solar energy
without taking significantly more financial or geopolitical risk ", says Nils P.
Skaset, CEO of Aega.

Total energy production from Aega's own industrial portfolio in the first
quarter of 2022 was 1,596,466 kWH (1,040,596 kWH).


For further information, please contact:


Nils P. Skaset, CEO
+47 951 88 154
ceo@aega.no
www.aega.no



About Agea
Aega ASA is an investment company listed on Euronext Expand in Oslo. Aega's main
focus is on the solar power market. The company acquires and operates smaller
existing Italian solar power plants, following strict investment criteria. In
addition to being an industrial player it also considers financial investments
in the solar and renewable sector. The company's head offices are in Oslo (NO)
and Trento (IT).

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© Oslo Bors ASA, source Oslo Stock Exchange