Elmera Group recorded an adjusted net revenue ofNOK 474m in the fourth quarter of 2023, an increase compared toNOK 372m in the fourth quarter of 2022. Adjusted EBIT was historically strong and significantly higher than last year, and came in atNOK 157m , compared toNOK 28m in fourth quarter 2022. For the full year 2023, EBIT adj. wasNOK 513m , compared toNOK 460m in 2022. -I am very satisfied with our performance in the quarter. All of our segments developed positively, and we reached the targeted reduction in operating expenses from our cost programme, says CEO,Rolf Barmen . Lower than normal temperatures and a reduction in electricity prices versus last year contributed to increased volume sold in both the Consumer and Business segments. The volume growth was also fuelled by year-over-year customer growth in the Business segment. Nordic Green Energy, the group's brand in the Swedish and Finnish market, improved both its profitability and customer satisfaction compared to fourth quarter in 2022. "The Nordic segment is in a completely different state now, compared to twelve months ago. Financially we are more robust and less exposed to market risk. The customer satisfaction development truly is a success story, and we are now among the top three players in the Finnish market", says Barmen. The New Growth Initiatives segment also developed well in the quarter, with a positive trend in number of mobile subscribers and improved profitability after the network migration to Telia's network. The board of directors have proposed a divided ofNOK 2.3 kr per share for 2023. Please find attached the quarterly report and quarterly presentation. Results Presentation:15 February 2024 at 08.00 CET The presentation will be webcasted live at: https://channel.royalcast.com/landingpage/hegnarmedia/20240215_2/ For further information, please contact:Morten A. W. Opdal , Head of Group Accounting, Reporting and IR, +47 970 62 526
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