Aker Carbon Capture ASA

ACC

Equity

ISIN NO0010890304 / Valor 56464084

Oslo Stock Exchange (2024-12-23)

NOK 6.30+1.78%

Aker Carbon Capture ASA
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About company

Aker Carbon Capture ASA, originating as a division within Aker Solutions, has established itself as a dedicated entity in the field of carbon capture, utilization, and storage (CCUS) technology, leveraging over two decades of experience inherited from its predecessor. The company, headquartered in Norway, operates with a significant presence in several Northern European countries and benefits from the global outreach provided by the Aker group. Aker Carbon Capture specializes in offering carbon capture solutions and services across a diverse range of industries, including cement, bio and waste-to-energy, gas-to-power, and blue hydrogen sectors. The firm is recognized for its proprietary carbon capture technology, which is designed to be environmentally friendly, cost-effective, robust, and flexible, making it suitable for both existing facilities and new projects. With over 50,000 operating hours, their technology is validated by DNV GL for its efficiency and adaptability in multiple applications. The company's unique post-combustion capture technology, developed through an extensive eight-year R&D program named SOLVit, utilizes a mixture of water and organic amine solvents to absorb CO₂ from various emission sources, offering advantages such as low energy requirements and robust solvent performance.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

Aker Carbon Capture ASA reported significant revenue growth in the fourth quarter of 2023. Revenues reached NOK 573 million, a substantial increase from NOK 239 million in the same period the previous year. This growth was primarily driven by progress on ongoing Big Catch and Just Catch projects.

EBITDA Performance

In the fourth quarter of 2023, Aker Carbon Capture ASA's EBITDA was negative NOK 43 million, compared to negative NOK 47 million in the same quarter last year. Despite positive contributions from Big Catch and Just Catch projects, the overall negative EBITDA was influenced by high commercial and tender activity, entry into the United States market, and ongoing R&D efforts.

Cash Position

Aker Carbon Capture ASA ended the fourth quarter of 2023 with a robust cash position of NOK 1.1 billion. This strong cash reserve provides the company with a solid financial foundation to support its ongoing and future projects.

Order Backlog

The order backlog for Aker Carbon Capture ASA increased significantly in the fourth quarter of 2023, reaching NOK 2.6 billion. This is a notable rise from NOK 1.3 billion in the same period the previous year, reflecting the company's successful acquisition of new contracts and projects.

Equity Position

At the end of the fourth quarter of 2023, Aker Carbon Capture ASA reported an equity position of NOK 0.7 billion. This strong equity base underscores the company's financial stability and its ability to sustain long-term growth and development in the carbon capture industry.

Summarized from source with an LLMView Source

Key figures

-50.5%1Y

-75.6%3Y

%5Y

Performance

55.1%1Y

61.1%3Y

69.7%5Y

Volatility