Aker Horizons Asa (AKHOF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. My name is Lars Bære. Welcome to today's presentation of the first quarter results for ARCA Horizons. I will first comment upon some key developments since year end, and then we will take you through the status of the investment portfolio and the Q1 financials. The CFO of Mainstream, Julie Berg, will cover the update on Mainstream, and CFO of Horizons, Christopher Dahlberg, will, as usual, cover some of the update on the ARCA Horizons side. I will start with the common capture. In February, ACC announced the cash dividend of NOC 3.5 billion, equal to NOC 1.5 billion liquidity inflow to ARCA Horizons. The first payment of NOC 1.3 billion was received in March, and the remaining NOC 256 million was received yesterday. Certainly well received. Next, after securing the contract for the 400,000-tons Just Catch 400 unit for Hafslen Celsius in January, an earn-out payment of NOK 71 million has been received by ACC from SLB. Furthermore, the SLB Kapturi JV has continued to see significant commercial and front-end activity during the last quarter. So moving on to renewable energy development and our investment in mainstream. Firstly, mainstream continues to mature its development portfolio in core markets, and we expect to see a combined 350 megawatt of solar and onshore wind projects to reach financial close in the South Africa market within the next 18 months. The announced sale of the development portfolio in Colombia was closed in April. The divestment, totaling 675 megawatts, marks Mainstream's exit from the Colombian market as part of the updated strategy to focus its operations. Finally, on the Mainstream side, Morten Henriksen has started as the Group CEO of Mainstream. We're glad to see Morten coming in. He brings extensive management experience and ...