Magnora ASA (OSL:MGN)
kr 24.1 -0.2 (-0.82%) Market Cap: 1.55 Bil Enterprise Value: 1.18 Bil PE Ratio: 4.59 PB Ratio: 3.11 GF Score: 62/100
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Q4 2023 Magnora ASA Earnings Call Transcript

Feb 29, 2024 / 09:00AM GMT
Release Date Price: kr30 (+3.45%)
Erik Sneve
Magnora ASA - Chief Executive Officer

Welcome to Magnora's quarterly report Q4 2023 as well as our combined annual report this year. I'm Erik Sneve, the CEO in Magnora.

We're still a pure-play asset-light, renewable developer, and we will continue to be so for the foreseeable future. We focus on greenfield origination to secure land, a lot of land. We secure grid connections. We secure permits. And we develop these projects to stage the energy companies and infrastructure companies wanting to take over and buy these projects from us.

We have strict capital discipline. We have a highly experienced team. And I would like to reach out to my team and say that we could have not done what we've done in 2023 without their incredible efforts, their knowledge, passion, and spirit for Magnora and for our clients.

Our landbank is growing rapidly. And in Q4, we reached 7.7 gigawatt. New for the quarter is that we guide for landbank of 11 gigawatts by the end of 2025. And we set a new sales target for 2024 of 500 to 625 megawatts for the year.

We have zero debt, low

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