Business Summary: Orron Energy AB, formerly Lundin Energy AB, is a Sweden-based independent renewable energy company, with wind and hydro assets in the Nordics. The Company is focused on investments in renewable energy projects in the Nordics, which has a stable and mature market for renewable energy, followed by a potential expansion in Europe. Its portfolio consists of three wind and hydro assets in the Nordics; The Metsalamminkangas (MLK) wind farm in Finland, which became operational in 2022, the Leikanger hydropower plant in Norway, which is fully operational and the Karskruv wind farm in southern Sweden, which is under development.
Financial Summary: BRIEF: For the six months ended 30 June 2024, Orron Energy AB revenues decreased 2% to EUR17M. Net income totaled EUR4.3M vs. loss of EUR8.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net Income reflects Other Income increase from EUR400K to EUR10.9M (income), Foreign currency exchange loss net decrease of 88% to EUR700K (expense).