Slide 1: Quarterly presentation Q1 2025
Quarterly presentation Q1 2025 ROLF BARMEN (CEO) HENNING NORDGULEN (CFO)
Slide 2: Highlights Q1 2025
Highlights Q1 2025 ROLF BARMEN (CEO)
Slide 3: Group and segment highlights
GROUP Volume decrease from very mild weather driving the EBIT reduction YoY. Positive development in customer base in Norway, with accelerating growth throughout the quarter. Dividend of NOK 3.0 per share was distributed on 12 May 2025. CONSUMER BUSINESS Significantly reduced consumption YoY due to
Slide 4: Financial review Q1 2025
Financial review Q1 2025 HENNING NORDGULEN (CFO)
Slide 5: Key financials Q1 2025
Key financials Q1 2025 Net revenue adj. NOK 502m (NOK 550m) and EBIT adj. NOK 174m (NOK 230m). LTM Net revenue adj. NOK 1 744m (NOK 1 749m) and LTM EBIT adj. NOK 513m (NOK 545m). Abnormally high temperatures resulted in a volume reduction of 9% YoY, and a corresponding 9% reduction in Net revenue ad
Slide 6: Market development
Market development Weekly elspot prices (NOK/kWh)1 Monthly supplier changes in Norway (‘000)2 120 1,2 1,0 100 0,8 80 0,6 60 0,4 40 0,2 20 0,0 - 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 1 2 3 4 5 6 7 8 9 10 11 12 2024 2025 2025 2024 2023 2022 Sources: 1) Weekly system prices in NOK from Nor
Slide 7: Consumer segment
Consumer segment Deliveries (‘000) Net revenue adj. (NOKm) • Customer growth both in the 810 810 827 843 818 Fjordkraft and Gudbrandsdal 900 Tusener 250 800 Energi brands in the quarter. 200 700 600 • Volume sold decreased 8% YoY 150 500 667 661 661 657 659 265 227 240 400 due to higher temperatures
Slide 8: Business segment
Business segment Deliveries (‘000) Net revenue adj. (NOKm) 140 200 546 554 567 557 546 600 120 500 • Continued customer growth and 150 100 400 130 thousand deliveries milestone 80 reached in the quarter. 131 100 300 60 127 128 128 130 174 163 40 123 152 200 • Average net revenue margin per 50 109 20
Slide 9: Nordic segment
Nordic segment Deliveries (‘000) Net revenue adj. (NOKm) 70 223 228 222 250 140 213 • Deliveries development affected 60 120 222 200 by revised product strategy and 100 50 150 seasonal demand for spot 80 40 65 64 products. 60 122 118 30 59 100 116 116 114 51 40 20 48 • Positive trend in customer 50
Slide 10: New Growth Initiatives
New Growth Initiatives Volume sold Alliance (TWh) Net revenue adj. (NOKm) 2 3,5 4 50 172 185 196• Trend reversal with a growth of 3,4 3,4 3,3 Tusener 3,3 45 163 164 158 176 40 156 approximately 2 thousand Mobile 3 1 35 136 subscribers in the quarter. 30 116 2 25 46 96 • Volume sold decreased by 3% 2
Slide 11: NWC and net cash position
NWC and net cash position Net working capital (NOKm)1 Net cash (NOKm)1 - ( 100) 800 ( 200) 700 ( 300) 600 ( 754) ( 400) ( 802) 500 ( 500) «Cash EBIT adj.» in the 400 quarter: NOK 187m 703 ( 600) 300 (20) (32) ( 700) (41) 451 (74) 200 386 239 ( 800) 100 (64) ( 900) - Q1 2024 Q4 2024 Q1 2025 (1 000) N
Slide 12: Outlook
Internal Outlook ROLF BARMEN (CEO) ELMERA GROUP Ul
Slide 13: Outlook
Outlook • Norgespris, the proposed addition to the Norwegian power support scheme, is expected to increase electricity consumption by reducing consumers' sensitivity to price fluctuations. • Insourcing of Power Trading function from May 2025 will enable i.a. intraday trading and improved accuracy on
Slide 14: Financial targets
Financial targets ▪ Net revenue growth in all segments in 2024 and 2025. ▪ Stable nominal opex adj., in line with 2023, for 2024 and 2025. P&L Q1 2025 update: ▪ EBIT adj. in the area of NOK 550-600m for 2024 and 2025 with a positive development throughout the period. • Net revenue growth and EBIT ad
Slide 15: Q&A
Internal Q&A ELMERA GROUP Ul
Slide 16: Appendix
Appendix =; ELMERA GROUP
Slide 17: Adjusted EBIT reconciliation
Adjusted EBIT reconciliation Quarterly presentation | Q1 2025 17
Slide 18: Profit and Loss account
Profit and Loss account Quarterly presentation | Q1 2025 18
Slide 19: Balance sheet
Balance sheet Quarterly presentation | Q1 2025 19
Slide 20: Balance sheet
Balance sheet Quarterly presentation | Q1 2025 20
Slide 21: Cash flow
Cash flow Quarterly presentation | Q1 2025 21
Slide 22: Cash flow
Cash flow Quarterly presentation | Q1 2025 22
Slide 23: Rolf Barmen (CEO), Henning Nordgulen (CFO)
• Rolf Barmen (CEO) • Henning Nordgulen (CFO)
Slide 24: Forward-looking statements
Forward-looking statements This presentation contains, or may be deemed to contain, statements that are not historical facts but forward-looking statements with respect to Elmera Group’s expectations and plans, strategy, management’s objectives, future performance, costs, revenue, earnings and other