Selskapsmeldinger

Torghatten Aqua: Fortsatte veksten i 2024

Company news

2025-06-13 16:07:02

Ny versjon av melding fra 12.06.2025. Driftskostnadene i 2023 var på "nær 207 millioner kroner", ikke "nær 207.000 kroner" som det sto i meldinga. Har ingen betydning for 2024-resultatet,

Torghatten Aqua økte inntektene, kjøpte flere selskap og fikk ny storeier i 2024. Samtidig ga lave laksepriser og økte kostnader et tøft driftsår.

2024 ble begivenhetsrikt. På vårparten kom Nova Sea inn på eiersiden i Torghatten Aqua, og er nå nest største eier, med 33,34 prosent av aksjene. Lovund-selskapet er dermed med på å muliggjør flere viktige satsinger i Torghatten Aqua-konsernet fremover.
- Begge selskapene er opptatt av å skape verdier lokalt, og har ambisiøse planer. Nova Seas inntreden på eiersiden gir oss tilgang på både kapital og kompetanse, som er viktig får å kunne investere og utvikle selskapet, sier konsernsjef Øyvind Løvdahl i Torghatten Aqua.

Kjøpte flere
Investeringene er for lengst i gang. Torghatten Aqua gjorde i 2024 flere oppkjøp, deriblant kjøpte selskapet 66 prosent av aksjene i INAQ, et av landets ledende rådgivingsselskap for havbruksnæringen. Selskapet kjøpte også alle aksjene i Nordland Settefisk, som skal produsere settefisk på Horvneset, utenfor Sandnessjøen.
- Dette er strategisk viktige kjøp for å kunne vokse videre. Det er stor etterspørsel etter både settefisk og kompetanse i havbruksnæringa, sier Løvdahl.
En annen viktig milepæl ble nådd da Mattilsynet i 2024 sa ja til en stor settefisksatsing i Vevelstad, og Statsforvalteren i Nordland i april 2025 ga utslippstillatelse. Dermed har begge sektormyndighetene sagt ja til milliard-etableringen som skal gi 20 til 30 arbeidsplasser i Vevelstad, og planen er å produsere mellom 15 og 20 millioner laksesmolt i året.

Økte inntektene
Torghatten Aqua-konsernet økte i 2024 driftsinntektene til nær 248 millioner kroner, fra rundt 208 millioner kroner i 2023. Omsetningsøkningen kommer av økt produksjon av laks i sjø. Samtidig økte også driftskostnadene, fra nær 207.000 millioner i 2023 til nær 264 millioner kroner i fjor. Kombinasjonen lave laksepriser, og økte kostnader gjorde at Torghatten Aqua på konsernnivå gikk fra overskudd på driften på 1,4 millioner i 2023 til et underskudd på 16 millioner kroner i 2024.
- Vi ble i likhet med resten av bransjen rammet av fall i laksepriser og biologiske utfordringer ifm høye sjøtemperaturer gjennom sommeren. Dette sammen med et økt kostnadsnivå bidro til at vi fikk et tøft år driftsmessig. Lang saksbehandlingstid hos myndighetene har også rammet flere av prosjektene våre, både økonomisk og tidsmessig, sier Løvdahl.

Lang tid
Torghatten Aqua-eide Helgeland Miljøfisk søkte alt i 2022 om tillatelse til å etablere et av landets største landbaserte oppdrettsanlegg på Toft i Brønnøy, men svaret har latt vente på seg. Det kom heller ikke i 2024, tross en skriftlig bekreftelse fra en leder hos Statsforvalteren i Nordland i januar 2024, om at de skrev på en tillatelse. I januar 2025 sa Statsforvalteren så overraskende nei til å gi utslippstillatelse. Denne avgjørelsen har Helgeland Miljøfisk klaget på, og saken ligger nå hos Miljødirektoratet for avgjørelse. Det landbaserte anlegget skal etter planen produsere 40,000 tonn laks i året, og gi 200 til 300 arbeidsplasser.
- Saksbehandlingstiden har vært fryktelig lang, men vi har nå tillitt til at Miljødirektoratet vil gi oss de nødvendige tillatelsene slik at vi kommer i gang, sier Løvdahl.

Gode resultater
Torghatten Aqua er største eier i en annen landbaserte oppdretter, Bue Salmon i Vestland. Bue Salmon slaktet i 2024 sin første matfisk med en imponerende superiorandel på hele 95 prosent, og en overlevelse på 98 prosent.
- Meldingene fra Bue er svært gledelige. Kunnskapen vi høster på Bulandet er direkte overførbar til landbasertsatsingen vår på Toft i Brønnøy, sier Løvdahl.

Populær skole
Torghatten Aquas skole- og utdanningssatsing, Campus BLÅ, opplever stor interesse, og har flere søkere til sine tilbud enn noen gang. Campus BLÅ utviklet i 2024 også egne løsninger for e-læring, i tillegg til de mer tradisjonelle steds- og kursbaserte tilbudene.
- Vi har aldri hatt flere søkere til Campus BLÅ videregående skole enn vi har nå. Etter seks års drift kan vi slå fast at den videregående skolen vår er en suksess, og at elevene våre er attraktive for havbruksnæringa. Det samme gjelder også for fagskolen og våre andre tilbud, sier konsernsjef Øyvind Løvdahl i Torghatten Aqua.

For ytterligere informasjon, kontakt direktør for IR og kommunikasjon i Torghatten Aqua, Stig Tore Laugen, tlf.: 916 00 217 epost:stig.tore.laugen@torghattenaqua.no

Torghatten Aqua: Fortsatte veksten i 2024

Company news

2025-06-12 17:30:51

Torghatten Aqua økte inntektene, kjøpte flere selskap og fikk ny storeier i 2024. Samtidig ga lave laksepriser og økte kostnader et tøft driftsår.

2024 ble begivenhetsrikt. På vårparten kom Nova Sea inn på eiersiden i Torghatten Aqua, og er nå nest største eier, med 33,34 prosent av aksjene. Lovund-selskapet er dermed med på å muliggjør flere viktige satsinger i Torghatten Aqua-konsernet fremover.
- Begge selskapene er opptatt av å skape verdier lokalt, og har ambisiøse planer. Nova Seas inntreden på eiersiden gir oss tilgang på både kapital og kompetanse, som er viktig får å kunne investere og utvikle selskapet, sier konsernsjef Øyvind Løvdahl i Torghatten Aqua.

Kjøpte flere
Investeringene er for lengst i gang. Torghatten Aqua gjorde i 2024 flere oppkjøp, deriblant kjøpte selskapet 66 prosent av aksjene i INAQ, et av landets ledende rådgivingsselskap for havbruksnæringen. Selskapet kjøpte også alle aksjene i Nordland Settefisk, som skal produsere settefisk på Horvneset, utenfor Sandnessjøen.
- Dette er strategisk viktige kjøp for å kunne vokse videre. Det er stor etterspørsel etter både settefisk og kompetanse i havbruksnæringa, sier Løvdahl.
En annen viktig milepæl ble nådd da Mattilsynet i 2024 sa ja til en stor settefisksatsing i Vevelstad, og Statsforvalteren i Nordland i april 2025 ga utslippstillatelse. Dermed har begge sektormyndighetene sagt ja til milliard-etableringen som skal gi 20 til 30 arbeidsplasser i Vevelstad, og planen er å produsere mellom 15 og 20 millioner laksesmolt i året.

Økte inntektene
Torghatten Aqua-konsernet økte i 2024 driftsinntektene til nær 248 millioner kroner, fra rundt 208 millioner kroner i 2023. Omsetningsøkningen kommer av økt produksjon av laks i sjø. Samtidig økte også driftskostnadene, fra nær 207.000 kroner i 2023 til nær 264 millioner kroner i fjor. Kombinasjonen lave laksepriser, og økte kostnader gjorde at Torghatten Aqua på konsernnivå gikk fra overskudd på driften på 1,4 millioner i 2023 til et underskudd på 16 millioner kroner i 2024.
- Vi ble i likhet med resten av bransjen rammet av fall i laksepriser og biologiske utfordringer ifm høye sjøtemperaturer gjennom sommeren. Dette sammen med et økt kostnadsnivå bidro til at vi fikk et tøft år driftsmessig. Lang saksbehandlingstid hos myndighetene har også rammet flere av prosjektene våre, både økonomisk og tidsmessig, sier Løvdahl.

Lang tid
Torghatten Aqua-eide Helgeland Miljøfisk søkte alt i 2022 om tillatelse til å etablere et av landets største landbaserte oppdrettsanlegg på Toft i Brønnøy, men svaret har latt vente på seg. Det kom heller ikke i 2024, tross en skriftlig bekreftelse fra en leder hos Statsforvalteren i Nordland i januar 2024, om at de skrev på en tillatelse. I januar 2025 sa Statsforvalteren så overraskende nei til å gi utslippstillatelse. Denne avgjørelsen har Helgeland Miljøfisk klaget på, og saken ligger nå hos Miljødirektoratet for avgjørelse. Det landbaserte anlegget skal etter planen produsere 40,000 tonn laks i året, og gi 200 til 300 arbeidsplasser.
- Saksbehandlingstiden har vært fryktelig lang, men vi har nå tillitt til at Miljødirektoratet vil gi oss de nødvendige tillatelsene slik at vi kommer i gang, sier Løvdahl.

Gode resultater
Torghatten Aqua er største eier i en annen landbaserte oppdretter, Bue Salmon i Vestland. Bue Salmon slaktet i 2024 sin første matfisk med en imponerende superiorandel på hele 95 prosent, og en overlevelse på 98 prosent.
- Meldingene fra Bue er svært gledelige. Kunnskapen vi høster på Bulandet er direkte overførbar til landbasertsatsingen vår på Toft i Brønnøy, sier Løvdahl.

Populær skole
Torghatten Aquas skole- og utdanningssatsing, Campus BLÅ, opplever stor interesse, og har flere søkere til sine tilbud enn noen gang. Campus BLÅ utviklet i 2024 også egne løsninger for e-læring, i tillegg til de mer tradisjonelle steds- og kursbaserte tilbudene.
- Vi har aldri hatt flere søkere til Campus BLÅ videregående skole enn vi har nå. Etter seks års drift kan vi slå fast at den videregående skolen vår er en suksess, og at elevene våre er attraktive for havbruksnæringa. Det samme gjelder også for fagskolen og våre andre tilbud, sier konsernsjef Øyvind Løvdahl i Torghatten Aqua.

For ytterligere informasjon, kontakt direktør for IR og kommunikasjon i Torghatten Aqua, Stig Tore Laugen, tlf.: 916 00 217 epost:stig.tore.laugen@torghattenaqua.no

JACK: Jacktel AS - Annual General Meeting Minutes

Company news

2025-06-11 14:48:31

The Annual General Meeting of Jacktel AS was held 11.06.2025. All items on the agenda were approved by the general meeting.
Please find minutes enclosed.

ETMAN, Q1-2025

Company news

2025-06-06 21:41:48

For nærmere informasjon kontakt CEO Jan Tore Skårland, jan.tore.skarland@etman.no
Tlf. +47 951 30 596


For further information, please contact CEO Jan Tore Skårland, jan.tore.skarland@etman.no
Tlf. +47 951 30 596

PNO: Notice of Annual General Meeting 2025

Company news

2025-06-06 14:26:22

Please find attached the summons to the Annual General Meeting to be held 20 June 2025.

Avholdt generalforsamling i Etman International ASA / General Assembly Held in Etman International ASA

Company news

2025-06-06 14:24:26

Generalforsamlingen i Etman International ASA vedtok 05 Juni 2025 styrets forslag til
årsregnskap og årsberetning for Etman konsernet og Etman International ASA for 2024.

Se vedlegg for komplett protokoll fra generalforsamlingen.

---

The General Assembly of Etman International ASA approved on June 5, 2025, the Board of Directors’ proposal for the annual financial statements and annual report for the Etman Group and Etman International ASA for the year 2024.

Please see the attachment for the complete minutes from the General Assembly.


Jan Tore Skårland
CEO
Etman International ASA

INDEPENDENT OIL & RESOURCES PLC - IOTA - NOTICE OF ANNUAL GENERAL MEETING

Company news

2025-06-06 07:49:42

Notice of Annual General Meeting to take place on 26/06/2025 with relevant attachments.

INDEPENDENT OIL & RESOURCES PLC - IOTA- AUDITED FINANCIAL STATEMENTS 31.12.2024

Company news

2025-06-06 07:42:41

Enclosed please find the audited financial statements of Independent Oil & Resources PLC as at 31.12.2024

Pandox og Eiendomsspar kunngjør mulig bud på det irske hotellselskapet Dalata

Company news

2025-06-03 08:22:06

Et konsortium bestående av Pandox og Victoria Eiendom sitt datterselskap Eiendomsspar, kunngjør intensjon om mulig kontantbud på 100% av aksjene i det børsnoterte irske hotellselskapet Dalata. Dalata er en velrenommert eier og operatør av til sammen 55 hoteller, hvorav 30 er eide, 22 innleide og 3 på management kontrakt. Hotellene er for det vesentlige beliggende i Irland og England og omfatter totalt nær 12.000 rom, i hovedsak under varemerkene Clayton og Maldron.
Indikert budpris på euro 6.05 per Dalata aksje, priser Dalata til omtrent 1,3 milliarder euro, fullt utvannet. Eiendomsspar eier allerede 8,8% av Dalata, aksjer som tenkes disponert av konsortiet om endelig bud fremmes.
Konsortiet forhandler for øyeblikket med en velrenommert hoteloperatør om et rammeverk for drift av Dalatas hoteller om konsortiet skulle nå frem med sitt eventuelle bud. Denne operatøren deler Konsortiets ønske om langsiktig, lønnsom og bærekraftig vekst.
Konsortiet søker å opprette en konstruktiv dialog med Dalatas styre og ledelse med ønske om en anbefaling av et mulig bud.
Det er ingen garanti for at endelig bud vil fremmes.
For ytterligere utdyping og detaljer, henvises til vedlagte «Announcement of a possible offer under rule 2.4. The Irish Takeover rules»

Kontaktperson Eiendomsspar: Christian Ringnes, cr@eiendomsspar.no , mob +47 905 99 121
Kontaktperson Pandox: Liia Nõu, lia.nou@pandox.se , mob +46 8 506 205 50

Pandox og Eiendomsspar kunngjør mulig bud på det irske hotellselskapet Dalata

Company news

2025-06-03 08:17:46

Et konsortium bestående av Pandox og Eiendomsspar kunngjør intensjon om mulig kontantbud på 100% av aksjene i det børsnoterte irske hotellselskapet Dalata. Dalata er en velrenommert eier og operatør av til sammen 55 hoteller, hvorav 30 er eide, 22 innleide og 3 på management kontrakt. Hotellene er for det vesentlige beliggende i Irland og England og omfatter totalt nær 12.000 rom, i hovedsak under varemerkene Clayton og Maldron.
Indikert budpris på euro 6.05 per Dalata aksje, priser Dalata til omtrent 1,3 milliarder euro, fullt utvannet. Eiendomsspar eier allerede 8,8% av Dalata, aksjer som tenkes disponert av konsortiet om endelig bud fremmes.
Konsortiet forhandler for øyeblikket med en velrenommert hoteloperatør om et rammeverk for drift av Dalatas hoteller om konsortiet skulle nå frem med sitt eventuelle bud. Denne operatøren deler Konsortiets ønske om langsiktig, lønnsom og bærekraftig vekst.
Konsortiet søker å opprette en konstruktiv dialog med Dalatas styre og ledelse med ønske om en anbefaling av et mulig bud.
Det er ingen garanti for at endelig bud vil fremmes.
For ytterligere utdyping og detaljer, henvises til vedlagte «Announcement of a possible offer under rule 2.4. The Irish Takeover rules»

Kontaktperson Eiendomsspar: Christian Ringnes, cr@eiendomsspar.no , mob +47 905 99 121
Kontaktperson Pandox: Liia Nõu, lia.nou@pandox.se , mob +46 8 506 205 50

NHST Holding AS- Annual General Meeting June 19, 2025

Company news

2025-06-02 08:13:13

The notice of the 2025 annual general meeting to be held on June 19 will be sent to shareholders today June 2nd and will be published on www.nhst.com.
On the agenda for the AGM is, i.a.:
- Approval of the 2024 financial statements
- Proposal for the reelection of Anette S. Olsen and Erik Christian Must as Board members
- Proposal for an adjustment of board remuneration
- Proposal to renew the existing authorization for the Board to issue new shares in the company
- Proposal to renew the existing authorization for the Board to acquire treasury stock.

Fjerning av aksje: GiG Software P.L.C. (GIGNO)

Corporate actions

2025-05-30 16:57:40

GiG Software P.L.C. (ISIN:NO0013326033, ticker GIGNO) er fjernet fra handelsstøttesystemet

PNO: Q1 2025 report

Company news

2025-05-30 16:13:08

Please find attached the Q1 2025 report for Petrolia NOCO AS.

KNOX - EXERCISE OF WARRANTS

Company news

2025-05-30 15:36:49

The following warrant holders have today exercised all their warrants:

Geir Aune : 1 393 994 warrants
Tom Kristiansen : 497 855 warrants
Sven Tiefenthal : 248 081 warrants
Georges Lambert : 139 748 warrants

There are no more outstanding warrants.

Following the transactions, the total number of shares outstanding will be 6 528 070.

For further comments, please contact:
Geir Aune, Chairman & CEO, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Innkalling Generalforsamling - 2025 / Notice of Ordinary General Assembly Etman International ASA

Company news

2025-05-28 21:58:59

For ytterligere informasjon, vennligst kontakt:

For further information, please contact:

Jan Tore Skårland
CEO
Etman International ASA

Etman International ASA - Årsregnskap og årsberetning for 2024

Company news

2025-05-28 21:44:31

Vedlagt følger regnskap og årsberetning for 2024, godkjent av styret i Etman International ASA.

For ytterligere informasjon, vennligst kontakt:

Jan Tore Skårland
CEO
Etman International ASA

Aprila Bank ASA: Result of the purchase of existing shares by a consortium of certain primary insiders and other employees

Company news

2025-05-28 21:18:51

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS COMMUNICATION.

Reference is made to the announcement published by Aprila Bank ASA (the "Company") on 27 May 2025, where a consortium of certain primary insiders and other employees (the “Consortium”) announced a purchase of up to approx. 360,384 existing shares in the Company through a reverse bookbuilding process (the “Offering”). The reverse bookbuilding period expired at 16:30 (CEST) on 28 May 2025. Following the end of the reverse bookbuilding period, the Consortium has resolved to buy 283,750 shares at a price of NOK 7.00 per share. This equates to NOK 1,986,251 in total.

Notification of allocation will be made before 09:00 (CEST) on 30 May 2025 (T) and settlement will take place on 3 June 2025 (T+2). The settlement will be conducted on a customary delivery-versus-payment basis (DVP).

The Offering was carried out as part of a share incentive arrangement in the Company for the Consortium. The Consortium has undertaken a 3-year lock-up obligation for the shares purchased in the Offering.

The following primary insiders, and close associates to primary insiders, have been allocated the following in the Offering:

Fjeld-Olsen AS, which is controlled by Aksel Fjeld-Olsen (Head of legal) has been allocated 17,000 existing shares in the Offering. Following completion of the Offering, Aksel Fjeld-Olsen (Head of legal) controls in total 49,000 shares in the Company.

Espen Engelberg (Chief Financial Officer) has been allocated 18,500 existing shares in the Offering. Following completion of the Offering, Espen Engelberg (Chief Financial Officer) controls in total 141,044 shares in the Company.

Blue Mountain Capital AS, which is controlled by Kjetil Sørlien Barli (Chief Executive Officer), has been allocated 37,000 existing shares in the Offering. Following completion of the Offering, Kjetil Sørlien Barli (Chief Executive Officer) controls in total 651,000 shares in the Company.


ABG Sundal Collier is acting as manager in the Offering.

For further information, please contact:
ABG Sundal Collier: +47 22 01 60 28

IMPORTANT NOTICE
The Offering and the distribution of this announcement and other information in connection with the Offering may be restricted by law in certain jurisdictions (including, but not limited to, the United States, Canada, Australia and Japan). None of the Company, the Consortium or the Manager assume any responsibility in the event there is a violation by any person of such restrictions. This includes shareholders who have changed their domicile to such jurisdictions but which may access their VPS accounts. Persons into whose possession this announcement or relevant information should come are required to inform themselves about and to observe any such restrictions. The Offering is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the "United States") or any other jurisdiction in which this would be unlawful, require registration or other measures. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail and telephones. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States or any such jurisdiction and so doing may invalidate any purported acceptance.

MENTOR: Protokoll fra ordinær generalforsamling i Mentor Medier 2025 og utbetaling av utbytte

Company news

2025-05-27 16:02:02

Vedlagt følger protokoll fra ordinær generalforsamling i Mentor Medier AS torsdag 22. mai 2025.

Det ble på generalforsamlingen besluttet å utbetale et utbytte på 70 øre per aksje. Utbetalingen skjer på grunnlag av aksjonær situasjonen i selskapet per 22. mai 2025, og utbetalingen gjøres den 6. juni 2025.

Golar LNG Limited Interim results for the period ended March 31, 2025

Company news

2025-05-27 13:10:02

Highlights and subsequent events

• Golar LNG Limited (Golar or the Company) reports Q1 2025 net income attributable to Golar of $8 million, Adjusted EBITDA¹ of $41 million and Total Golar Cash¹ of $678 million.

• Concluded the 20-year charter of FLNG Hilli for Southern Energy S.A. (SESA) in Argentina.

• Signed definitive agreements for a 20-year charter for the MKII FLNG to SESA. Combined with the FLNG Hilli charter, the project will be for 5.95 mtpa of nameplate capacity one of the worlds largest FLNG development projects.

• FLNG Gimi in final stages of commissioning on the GTA field, Commercial Operations Date ("COD") expected within Q2.

• MKII FLNG conversion vessel Fuji LNG arrived at the shipyard for conversion works, conversion project on schedule for Q4 2027 delivery.

• FLNG Hilli maintained market-leading operational track record and delivered its 132^nd LNG cargo since contract start-up.

• Sold minority shareholding in Avenir LNG Limited.

• Completed exit from LNG shipping segment with sale of Golar Arctic.

• Declared dividend of $0.25 per share for the quarter.

• Progressed FLNG growth opportunities with commercial leads, shipyard availability and long lead equipment timing.

FLNG Hilli: Maintained leading operational track record with 132 cargoes offloaded to date and over 9 million tons of LNG produced since operations commenced.

Final Investment Decision (FID) for the 20-year redeployment of FLNG Hilli to Southern Energy in Argentina concluded (further details provided in the SESA charter agreements section). A dedicated team has progressed detailed work on Hillis re-deployment scope, vessel upgrade and transit to her new location.

Following the conclusion of FLNG Hillis re-deployment contract, we will initiate discussions for debt optimization that reflects the strong earnings visibility for the FLNG unit.

FLNG Gimi: In January 2025, the bp operated FPSO provided feedgas from the GTA field allowing for full commissioning to commence, triggering the final upward adjustment to the commissioning rate under the commercial reset agreed in August 2024. First LNG was achieved in February and in April 2025, FLNG Gimi completed the offload of its first full LNG cargo. This introduced Mauritania and Senegal as LNG exporters to the international gas market and triggered the final pre-COD milestone bonus payment to Golar under the terms of the commercial reset. COD, which remains on schedule for Q2 2025, triggers the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA backlog¹ (Golars share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement.

As of May 2025, Golar has invoiced $195.9 million of pre-COD fees under the commercial reset arrangements, with this amount currently recognized on the balance sheet.

On March 20, 2025, a $1.2 billion debt facility to refinance FLNG Gimi was signed with a consortium of leading Chinese leasing companies. The contemplated sale and leaseback facility features a tenor of 12 years and a 17-year amortization profile. Upon closing and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of approximately $530 million. This amount includes the release of existing interest rate swaps. Golar stands to benefit from 70% of these proceeds, equivalent to approximately $371 million. The transaction remains subject to customary closing conditions and third party stakeholder approvals. Golar has also progressed a rating process to further evaluate debt optimization alternatives for the vessel during the quarter.

MKII FLNG 3.5 MTPA conversion: Conversion work on the $2.2 billion MKII FLNG is proceeding to schedule. The conversion vessel Fuji LNG entered CIMCs Yantai yard in February 2025 and in April the vessel was successfully separated into forward and aft sections. A mid-ship section housing the liquefaction unit will be inserted between and attached to the refurbished forward and aft sections later in the conversion process. Fabrication of the topsides for the mid-ship section is also underway. As of March 31, 2025, Golar has spent $0.7 billion on the MKII FLNG conversion, all of which is equity funded. The MKII FLNG is expected to be delivered in Q4 2027.

With a definitive agreement that contemplates a 2H 2025 FID now secured, Golar will consider alternatives for asset level MKII FLNG financing.

Southern Energy charter agreements: On May 2, 2025, Golar announced a FID for the 20-year charter of FLNG Hilli. The vessel will be chartered to SESA offshore Argentina. Golar and SESA also signed definitive agreements for a 20-year charter of the MKII FLNG. The MKII FLNG charter remains subject to FID and the same regulatory approvals as those granted to the FLNG Hilli project, expected within 2025.

Key commercial terms for the respective 20-year charter agreements include:

• FLNG Hilli (nameplate capacity of 2.45mtpa): Expected contract start-up in 2027, expected  Adjusted EBITDA¹ to Golar of $285 million per year, plus a commodity linked tariff component of 25% of Free on Board (FOB) prices in excess of $8/MMBtu; and,

• MKII FLNG (nameplate capacity of 3.5mtpa): Expected contract start-up in 2028, expected  Adjusted EBITDA¹ to Golar of $400 million per year, plus a commodity linked tariff component of 25% of FOB prices in excess of $8/MMBtu.

The two FLNG agreements are expected to add $13.7 billion in Adjusted EBITDA backlog¹ to Golar over 20 years, before inflationary adjustments (30% of U.S. CPI from year 6) to the charter hire, and before the commodity linked tariff upside. Where achieved FOB prices exceed the $8/MMBtu reference price, Golar will receive 25% of the excess amount (this reference price is subject to the same 30% US CPI adjustment from year 6). The commodity linked element in the FLNG charter provides an upside of $70 million per year to Golar for every $ 1/MMBtu the achieved FOB price is higher than the USD 8/MMBtu reference price. The upside calculation is based on monthly achieved FOB prices.

While the commodity linked tariff component is upside oriented, the Company has also agreed to a mechanism where the charter hire can be partially reduced for FOB prices below $7.5/MMBtu, down to a floor of $6/MMBtu. Under this mechanism, the maximum accumulated discount over the life of both contracts has a cap of $210 million, and any outstanding discounted charter hire amounts will be recovered through additional upside sharing if FOB prices return to levels above $7.5/MMBtu. Golar is not exposed to further downside in the commodity linked FLNG charter mechanism. The upside calculation is based on monthly achieved FOB prices, whilst the downside adjustment is based on annual average achieved FOB prices. The downside mechanism is based on annual average achieved FOB prices.

SESA, a company formed to export Argentinian LNG, is owned by a consortium of leading Argentinian gas producers including Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%) and Golar (10%). The four gas producers have committed to supply their pro-rata share of natural gas to the FLNGs under Gas Sales Agreements at a fixed price per MMBtu. Golars 10% shareholding in SESA provides additional commodity exposure. The 10% equity stake equates to approximately $28 million in annual additional commodity exposure to Golar for every $1/MMBtu change in achieved FOB prices versus SESAs cash break even.

With the combination of the fixed charter hire with 30% of U.S. CPI inflation from year 6, operating expenses pass through, 25% commodity exposure in the FLNG tariff for FOB prices above $8/MMBtu and Golars 10% shareholding in SESA, Golar believes it has secured a highly attractive risk-reward in the SESA charters. For every $1 FOB price above $8/MMBtu, Golars total commodity upside is approximately $100 million, versus approximately $28 million in downside for every $1/MMBtu that realized FOB prices are below SESAs cash break even.

Located offshore in close proximity of each other in Rio Negro's Gulf of San Matias, the FLNG's will monetize gas from the Vaca Muerta formation, the worlds second largest shale gas resource, located onshore in Argentina's Neuquen province. FLNG Hilli will initially utilize spare volumes from the existing pipeline network. SESA intends to facilitate the construction of a dedicated pipeline from Vaca Muerta to the Gulf of San Matias to supply gas to the FLNGs and the project expects to benefit from significant operational efficiencies and synergies from two FLNGs in the same area.

The charters are also subject to strong legal and regulatory protections including:

• both charter agreements are subject to English Law with dispute resolution pursuant to ICC arbitration in Paris, France;

• hire and other payments under both contracts are fully paid in U.S. dollars;

• SESA has obtained Argentinas first ever 30-year non-interruptible LNG export license for FLNG Hilli, providing security of exports, necessary for the significant upstream and midstream investments, as well as securing offtake contracts; and

• MKII FLNG is expected to obtain a similar term export license within 2025.

FLNG Hilli has been approved for adherence to the Large Investments Incentive Scheme (RIGI), as a Long-Term Strategic Export project. The RIGI was implemented by the current administration of President Milei to incentivize large investments in Argentina. Under the RIGI, there are incentives and protections granted to the project company (SESA), with Golar benefiting as an international asset provider and investor, mostly notably:

• guaranteed legal certainty and regulatory stability for the duration of the project, covering taxes, customs, duties, and foreign exchange controls;

• any new national, provincial, or municipal taxes or restrictions would not apply to RIGI projects beyond those existing when the project was approved; and

• freedom to repatriate profits, dividends, and capital including exemption from potential Central Bank restrictions on access to foreign exchange for repatriation purposes.

If Argentina breaches the RIGI framework (e.g. by purporting to change the regime unilaterally), the beneficiary of the RIGI status can:

• bring legal action against the National or Provincial Government (as applicable) under ICC arbitration, or elect to challenge the revocation through administrative channels; and

• challenge the constitutionality of enacted law which breaches the RIGI protections.

Business development: Detailed discussions for FLNG opportunities continue. With limited yard capacity for FLNG delivery before the 2030s, and with the current Golar fleet committed, we see firming demand for the remaining available 2020s deliveries. Progress is being made on FLNG projects ranging from MKI, MKII and MKIII FLNG developments. We target FLNG opportunities with competitive wellhead gas to secure attractive base tariff and commodity upside participation. We are also in commercial negotiations with potential charterers seeking equity participation in the FLNG to align project stakeholders.

On the back of the recent commitments for the existing fleet and with ongoing detailed commercial discussions, we are working with shipyards and topside equipment providers to firm-up prices and schedules for potential ordering of additional unit(s) within 2025. Any growth initiatives are planned to be funded with recycled liquidity from debt optimization of the existing FLNG fleet on the back of their long term charters.

Corporate/Other: Operating revenues and costs under corporate and other items are comprised of two FSRU operate and maintain agreements in respect of the LNG Croatia and Italis LNG together with the  Golar Arctic up to her point of sale in March 2025, for $24 million, and the Fuji LNG, up to the point she entered CIMC's yard in February 2025 for FLNG conversion.

In February 2025, Golar also closed the sale of its non-core 23.4% interest in Avenir LNG Limited, for $39 million.

Shares and dividends: As of March 31, 2025, 104.7 million shares are issued and outstanding. Golars Board of Directors approved a total Q1 2025 dividend of $0.25 per share to be paid on or around June 10, 2025. The record date will be June 3, 2025.

Financial Summary

Financial Review 

Business Performance:

(2) The line item Realized and unrealized (loss)/gain on oil and gas derivative instruments in the Unaudited Consolidated Statements of Operations relates to income from the Hilli Liquefaction Tolling Agreement (LTA) and the natural gas derivative which is split into: Realized gain on oil and gas derivative instruments and Unrealized (loss)/gain on oil and gas derivative instruments.

Golar reports today Q1 2025 net income of $13 million, before non-controlling interests, inclusive of $32 million of non-cash items¹, comprised of:

• TTF and Brent oil unrealized mark-to-market (MTM) losses of $25 million; and

• A $7 million MTM loss on interest rate swaps.

The Brent oil linked component of FLNG Hillis fees generates additional annual cash of approximately $3.1 million for every dollar increase in Brent Crude prices between $60 per barrel and the contractual ceiling. Billing of this component is based on a three-month look-back at average Brent Crude prices. During Q1 2025, we recognized a total of $21 million of realized gains on FLNG Hilli's oil and gas derivative instruments, comprised of a: 

• $12 million realized gain on the Brent oil linked derivative instrument; and

• $9 million realized gain in respect of fees for the TTF linked production.

We also recognized $25 million of non-cash losses in relation to FLNG Hillis oil and gas derivative assets, with corresponding changes in the fair value in its constituent parts recognized on our unaudited consolidated statement of operations as follows:

• $13 million loss on the Brent oil linked derivative asset; and

• $12 million loss on the TTF linked natural gas derivative asset. 

Balance Sheet and Liquidity:

As of March 31, 2025, Total Golar Cash¹ was $678 million, comprised of $522 million of cash and cash equivalents and $156 million of restricted cash. 

Golars share of Contractual Debt¹ as of  March 31, 2025 is $1,495 million. Deducting Total Golar Cash¹ of $678 million from Golars share of Contractual Debt¹ leaves a net debt position of $817 million. 

Assets under development amounts to $2.5 billion, comprised of $1.8 billion in respect of FLNG Gimi and $0.7 billion in respect of the MKII FLNG. The carrying value of LNG carrier Fuji LNG, previously included under Vessels and equipment, net in Q4 2024 was transferred to Assets under development in Q1 2025.

Non-GAAP measures

In addition to disclosing financial results in accordance with U.S. generally accepted accounting principles (US GAAP), this earnings release and the associated investor presentation contains references to the non-GAAP financial measures which are included in the table below. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance.

This report also contains certain forward-looking non-GAAP measures for which we are unable to provide a reconciliation to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside of our control, such as oil and gas prices and exchange rates, as such items may be significant. Non-GAAP measures in respect of future events which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied to Golars unaudited consolidated financial statements.

These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures and financial results calculated in accordance with GAAP. Non-GAAP measures are not uniformly defined by all companies and may not be comparable with similarly titled measures and disclosures used by other companies. The reconciliations as at March 31, 2025 and for the three months ended March 31, 2025, from these results should be carefully evaluated.

(1) Please refer to reconciliation below for Golars share of contractual debt

Adjusted EBITDA backlog (also referred to as earnings backlog): This is a non-GAAP financial measure and represents the share of contracted fee income for executed contracts or definitive agreements less forecasted operating expenses for these contracts/agreements. Adjusted EBITDA backlog should not be considered as an alternative to net income / (loss) or any other measure of our financial performance calculated in accordance with U.S. GAAP.

Non-cash items: Non-cash items comprised of impairment of long-lived assets, release of prior year contract underutilization liability, MTM movements on our TTF and Brent oil linked derivatives, listed equity securities and interest rate swaps (IRS) which relate to the unrealized component of the gains/(losses) on oil and gas derivative instruments, unrealized MTM (losses)/gains on investment in listed equity securities and gains on derivative instruments, net, in our unaudited consolidated statement of operations.

Abbreviations used:

FLNG: Floating Liquefaction Natural Gas vessel
FSRU: Floating Storage and Regasification Unit
MKII FLNG: Mark II FLNG
FPSO: Floating Production, Storage and Offloading unit

MMBtu: Million British Thermal Units
mtpa: Million Tons Per Annum

Reconciliations - Liquidity Measures

Total Golar Cash

(in thousands of $)	March 31, 2025	December 31, 2024	March 31, 2024
Cash and cash equivalents	521,434	566,384	547,868
Restricted cash and short-term deposits (current and non-current)	172,879	150,198	92,159
Less: VIE restricted cash and short-term deposits	(16,745)
Key information relating to the cash dividend to be paid by Golar LNG Limited (Ticker: GLNG)	Company news	2025-05-27 13:10:02
Reference is made to the first quarter 2025 report released on May 27, 2025. Golar LNG Limited (Golar), NASDAQ ticker: GLNG, has declared a total dividend of $0.25 per share to be paid on or around June 10, 2025.  The record date will be June 3, 2025.  Due to the implementation of the Central Securities Depository Regulation (CSDR), please note the information below on the payment date for the small number of Golar shares registered in Norways central securities depository (VPS): Dividend amount: $0.25 per share Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK Last day including right: May 30, 2025 Ex-date: June 2, 2025 Record date: June 3, 2025 Payment date: On or about June 10, 2025. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about June 12, 2025. Golar LNG Limited Hamilton, Bermuda May 27, 2025 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act