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Hermana Holding (HERMA) investor relations material
Hermana Holding Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary22 Oct, 2025
Executive summary
Evaluated around 20 investment opportunities across sectors, maintaining a patient, opportunity-driven capital allocation approach.
Main income source remains royalty design rights from two FPSOs; no FPSO-related payments in Q3 2025.
New CEO/CFO appointed and two new board members elected following an extraordinary general meeting.
Financial highlights
Q3 2025 operating revenue was NOK 0.3 million, up from NOK 0 in Q3 2024.
Operating expenses were NOK 1.4 million, down from NOK 2.3 million in Q3 2024.
EBITDA and operating profit/loss for Q3 2025 were both NOK -1.1 million, compared to NOK -2.3 million in Q3 2024.
Net loss for Q3 2025 was NOK -1.5 million, improved from NOK -4.5 million in Q3 2024.
Cash and cash equivalents at quarter-end were NOK 60.3 million, up from NOK 18.8 million a year earlier.
Outlook and guidance
Expects to receive USD 4.3 million in Q4 2025 as the final demerger receivable from Magnora ASA related to the Shell Penguins FPSO.
Anticipates long-term revenue from Western Isles FPSO, with entitlement to USD 0.50 per barrel produced and offloaded.
Short-term clarity expected on UK windfall tax and redeployment timing for the Western Isles vessel.
Update on transformational deal opportunities
Impact of UK windfall tax on Western Isles redeployment?
Mitigation strategy for unindexed royalty inflation risk
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Next Hermana Holding earnings date
Q4 202512 Feb, 2026
Next Hermana Holding earnings date
Q4 202512 Feb, 2026
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Frequently asked questions
Hermana Holding ASA is a Norwegian company involved in royalty-based business operations. The company focuses on manufacturing, trading, and activities related to energy, intangible rights, and raw materials. Additionally, Hermana Holding invests in licenses, securities, financial instruments, and other assets, as well as acquiring businesses. The company’s operations also extend to providing financing in exchange for revenue streams, particularly targeting resource-based assets in the Nordic economies and various intellectual properties. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchanges.
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