Magnora ASA
OSE:MGN
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Magnora ASA
Magnora ASA operates as a renewable energy development company. The company is headquartered in Oslo, Oslo. The company went IPO on 2004-12-13. It’s strategy is to develop wind projects in Norway and abroad from early phase greenfield to ready-to build. The firm investing in companies and projects to be a part of the development of the renewable energy solutions that deliver clean energy to industries and consumers.
Magnora ASA operates as a renewable energy development company. The company is headquartered in Oslo, Oslo. The company went IPO on 2004-12-13. It’s strategy is to develop wind projects in Norway and abroad from early phase greenfield to ready-to build. The firm investing in companies and projects to be a part of the development of the renewable energy solutions that deliver clean energy to industries and consumers.
Data Center Focus: Magnora is accelerating its data center development business, assembling an experienced team and acquiring Storespeed to strengthen its position in Norway and Sweden.
Dividend Cut: The company has cut its regular NOK 12 million dividend to reallocate capital to high-growth data center opportunities, responding to strong investor interest.
Financial Position: Magnora reported a cash balance of NOK 192.6 million and no bank debt, with improved EBITDA and a reduced operating loss for the quarter.
Lead Generation: Magnora secured 1,500 megawatts in data center leads during the quarter, with a lead base of over 1,000 megawatts in Sweden and 500 megawatts in Norway.
Market Outlook: Management sees strong and increasing demand for data centers in the Nordics due to low electricity prices, a high share of green energy, and robust infrastructure.
Guidance: Magnora remains on track for its 10-gigawatt year-end target and expects potential sales of 600 to 725 megawatts, though this may be challenging due to timing.
