Arendals Fossekompani posts solid Q3, Volue and Tekna drive growth

Arendals Fossekompani ASA recorded Q3 2025 revenue of NOK 853 million, down from NOK 909 million in Q3 2024, with operating profit (EBIT) at NOK 33 million (NOK 51 million in Q3 2024). The decline was attributed to challenging market conditions for ENRX and lower hydropower production. Despite this, ordinary profit after tax, before non-controlling interests, soared to NOK 733 million, a substantial improvement from NOK -25 million in the prior year period, primarily due to a financial gain from Volue.

Volue continued its strong performance with 24% year-over-year revenue growth, reaching NOK 349 million, and a cash EBITDA margin of 19%. This included a NOK 1.8 billion financial gain from the sale of its Infrastructure business. Tekna achieved its first positive EBITDA quarter since IPO, with an adjusted EBITDA of CAD 0.5 million, driven by 28% year-over-year growth in Materials revenue. NSSLGlobal also reported revenue growth to £24.9 million and an improved operating margin of 19%.

Post-quarter, Arendals Fossekompani sold Factlines to Position Green, becoming a minority shareholder. Tekna also announced a fully underwritten rights issue of NOK 300 million and a new financing agreement with Scotiabank, ensuring full funding for its 2030 business plan. The company's financial position remains solid, with available cash of NOK 720 million and undrawn credit facilities of NOK 2,003 million, securing total liquidity of NOK 2,723 million.