The Group's sales revenues in Q4 2023 amounted toNOK 571.3 million which isNOK 11.8 million (2.1 %) higher than for the same period in 2022. The trend in sales revenue in Q4 2023 is positive in the Lighting and Panels segments, but lower for other segments compared to the same period in 2022. Year to date (YTD) 2023 sales revenues wereNOK 2,222.9 million compared toNOK 2,508.2 million YTD 2022. The Group achieved an EBITDA*) in Q4 2023 ofNOK 55.8 million compared toNOK 58.1 million in the same period last year. The adjusted operating profit in Q4 2023 wasNOK 31.8 million compared toNOK 37.8 million in the same period last year. The adjusted operating profit YTD Q4 2023 wasNOK 203.1 million compared toNOK 268.0 million YTD Q4 2022. The operating profit contains non-recurring items, please see reconciliation of adjusted operating profit in Alternative Performance Measures after the notes to the interim report. The adjusted operating profit in Q4 2023 is higher for the Lighting segment, but lower for the other segments compared to the same period in 2022. From9 March 2023 the investment inNorske Skog ASA is classified as an investment in associate and is accounted for using the equity method in accordance with IAS 28. See note 12 for more information. Share of profit from associate wasNOK 113.8 million in Q4 2023. The Group achieved a profit before tax in Q4 2023 ofNOK 108.6 million compared toNOK -171.5 million in the same period in 2022. Profit before tax YTD Q4 2023 wasNOK 31.3 million compared toNOK 529.4 million YTD 4. kvartal 2022. YTD Q4 2023, net financials amounted to an expense ofNOK 93.2 million which isNOK 67.7 million weaker compared to the same period in 2022. The main reasons for the increase in net financial expenses are increased interest rates and debt, and that there was a finance income on increased value of interest rate swaps in 2022. Please see note 3 for specification of net financials. The liquidity reserve*) as at31 December 2023 amounted toNOK 271.3 million , a reduction ofNOK 41.1 million from1 January 2023 and a reduction ofNOK 62.8 million from30 September 2023 . The Board of Directors will maintain its focus on capital and cost-efficiency. Net interest-bearing debt*) decreased fromNOK 1,425.4 million as at1 January 2023 toNOK 1,375.7 million as at31 December 2023 . YTD Q4 2023 long-term borrowings ofNOK 25.8 million as carried out, of which 17.5 million are due to new lease agreements. Investments in tangible fixed assets and intangible assets YTD Q4 2023 totalledNOK 77.2 million which isNOK 53.4 million lower than in 2022. Of the investments made, capitalised lease agreements amounted toNOK 17.5 million . The financial accounts for 2022 have been restated following a change in accounting of power contracts. Please see stock exchange announcement dated5 February 2023 for more information. Total assets decreased fromNOK 3,259.8 million as at1 January 2023 toNOK 3,200.6 million as at31 December 2023 . Booked equity as at31 December 2023 wasNOK 1,129.1 million (35.3 %), which is an increase ofNOK 131.1 million compared to1 January 2023 (33.1 %). The reasons for the change in equity are due to the profit of the year ofNOK 61.0 million , a currency translation difference ofNOK -3.7 million , loss on financial investment booked in other comprehensive income ofNOK 11.0 million share of other comprehensive income from associate ofNOK 5.1 million . *) Definition of EBITDA, adjusted operating profit, liquidity reserve, profit margin and net interest-bearing debt are added after the notes. The definitions have been updated since the last interim report.
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