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positive development for the company´s investment portfolio within renewable
energy, hydrogen, circular economy and CO\2\ reductions. The Board of Directors
has decided to distribute a dividend of NOK 0.10 per share for the quarter.
“The second quarter was generally a challenging period for the green tech sector
where we observed a significant revaluation of companies across our investment
universe. Despite the market turbulence during the first half of 2021, Sage Pure
performed well and reported a return of equity of 16.5% year to date, fueled by
the operational development in the companies in which we are invested. We
continue to be highly selective in our investment approach and believe the
market development will provide opportunities,” says Bjørn Simonsen, Chief
Executive Officer of Saga Pure.
Saga Pure reported a net profit in the second quarter 2021 of NOK 3.5 million
(Q2 2020: NOK 47.1 million), with a year-to-date return on equity of 16.5
percent. The company had NOK 796 million in cash at the end of the quarter.
During the second quarter, Saga Pure partnered with Nel ASA and Norwegian
Hydrogen AS and invested in Hyon AS. The company has been developing hydrogen
energy solutions for the maritime sector since 2017, and will focus on the
further development and commercialization of the hydrogen and bunkering solution
for harbors.
“Sustainability is at the top of the agenda within the maritime sector, and
hydrogen will play an important role in the future, maritime fuel mix. An
entirely new value chain needs to be developed, and a key part of that is
transferring hydrogen from the harbors to the vessels. Hyon is currently
developing solutions for production and fueling of hydrogen ships and we look
forward to take an active role of the further development of these solutions,”
says Simonsen.
The Board of Directors has decided to distribute a dividend of NOK 0.1 per share
for the quarter.
“Focus on renewable energy and the transition towards a more sustainable future
is gaining momentum, despite the recent market turmoil. Saga Pure is focused on
building a team of strong and broad industrial competence in accordance with the
new investment strategy and has evaluated approximately 100 companies year to
date. With a significant deal-flow, a highly selective investment approach and a
substantial investment capacity, Saga Pure is well positioned to capitalize on
our green and sustainable investment strategy. Following the positive
development in the first half of 2021, the Board of Directors has decided to
distribute a dividend of NOK 0.1 per share,” Simonsen concludes.
Saga Pure will host an investor presentation 30 August at 10:00 CET and the
presentation can be followed live at www.sagapure.com, or at
https://channel.royalcast.com/landingpage/hegnarmedia/20210830_2/
The presentation will be held at Haakon VIIs gate 2, Oslo.
As a consequence of the Covid-19 pandemic, there will be a limited number of
guests at the physical presentation of the results. Please send a request to
info@sagapure.com with full name if you want to participate at the Q2
presentation.
A confirmation of participation will be needed to access the
event.
The presentation of the financial results for the second quarter 2021 and the
Board of Directors report are enclosed.
ENDS
For additional information, please contact:
Bjørn Simonsen, CEO, +47 97 17 98 21
Espen Lundaas, CFO, +47 92 43 14 17
About Saga Pure | www.sagapure.com
Saga Pure ASA is an investment company focusing on opportunities within
renewable energy, hydrogen, circular economy and CO2-reduction.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Espen Lundaas, CFO, Saga Pure ASA, on 29 August
2021 at 17:00 CET.
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