Q1 2023 Aker Horizons ASA Earnings Call Transcript
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A warm welcome to all joining the presentation of Aker Horizons' first-quarter results. My name is Kristian Røkke, CEO of Aker Horizons. With me today are Nanna Tollefsen, CFO of Aker Horizons, who will review the financials; and Mary Quaney, CEO of Mainstream Renewable Power, who will present the company's main developments; as well as Ciaran O'Brien, who will join us for a deep dive on the Chilean power market. I'll keep my remarks somewhat briefer than normal to allow time for this market deep dive.
In the first quarter, Aker Horizons saw its net asset value increase from NOK15.1 billion to NOK15.8 billion, the main driver being the increase in Aker Carbon Capture. Aker Horizons maintain a strong financial position with a cash holding of NOK3.8 billion and an undrawn credit facility of EUR500 million, giving available liquidity of NOK9.5 billion.
Green industry, broadly speaking, continues to face obstacles in the form of slower-than-anticipated FIDs, inflationary pressures, and supply chain disruption in the short term.
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