Saga Pure (SAGA) Q2 2025 earnings summary

Executive summary

• Reported a total comprehensive loss of NOK 35.0 million for Q2 2025 and NOK 24.5 million for H1 2025.

• Transitioned to investment entity status in Q2 2025, now measuring subsidiaries at fair value under IFRS 9.

• Increased non-current financial investments by NOK 479.2 million during the quarter, mainly due to additional investment in S.D. Standard ETC Plc.

Financial highlights

• Q2 2025 operating revenues were NOK 3.5 million, down from NOK 2.5 million in Q2 2024.

• EBITDA for Q2 2025 was NOK -39.0 million, compared to NOK 1.5 million in Q2 2024.

• Net loss for Q2 2025 was NOK 35.0 million, versus net profit of NOK 10.6 million in Q2 2024.

• Cash holdings at end of Q2 2025 were NOK 187.6 million, down from NOK 509.5 million at end of Q1 2025.

• Basic and diluted EPS for Q2 2025 were NOK -0.07, compared to NOK 0.02 in Q2 2024.

Outlook and guidance

• Substantial capital has been deployed, but sufficient cash remains for further investments.