Saga Pure (SAGA) Q3 2024 earnings summary

Executive summary

• Reported total comprehensive loss of NOK 15 million for Q3 2024, but income of NOK 13 million year to date.

• EBITDA for Q3 2024 was NOK -22 million; year-to-date EBITDA at NOK -10 million.

• Significant increase in cash holdings to NOK 764.8 million at quarter end, up from NOK 490.1 million in Q2, due to divestments and loan settlements.

• Reduced exposure in short-term trading and completed sale of Heimdall investment.

Financial highlights

• Operating revenues for Q3 2024 were NOK 13.9 million, compared to NOK 0.1 million in Q3 2023.

• Net loss from financial investments was NOK 18.1 million in Q3 2024; year-to-date loss NOK 1 million.

• Administrative expenses in Q3 2024 were NOK 3.0 million.

• Net profit for Q3 2024 was NOK -15.4 million, compared to NOK -11.0 million in Q3 2023.

• Basic and diluted EPS for Q3 2024 were both NOK -0.03.

Outlook and guidance

• Will continue prudent and selective investment capital allocation.

• No interest-bearing debt and substantial cash holdings position the group for new opportunities.