North Energy reports Q3 loss due to financial investment decline

North Energy ASA reported a comprehensive loss of NOK 15.9 million for the third quarter of 2025, a significant decline from the NOK 37.1 million comprehensive income in the same period last year. This downturn was largely attributed to a negative change in the fair value of financial investments, despite positive contributions from associated companies and reduced operational expenses.

At the close of Q3 2025, North Energy's Net Asset Value (NAV) stood at NOK 569.1 million. When adjusted for dividends paid, the NAV saw a modest decrease of NOK 2.3 million (0.4%) from the previous quarter and NOK 4.7 million (0.8%) year-over-year. Operating expenses for the quarter were NOK 5.7 million, with payroll and related costs totaling NOK 4.5 million, a decrease from NOK 8.2 million and NOK 3.3 million respectively in Q3 2024.

The company's total assets at the end of the quarter increased to NOK 423.3 million, up from NOK 365.5 million in Q3 2024. This growth was mainly driven by an increase in cash to NOK 104.4 million, partially offset by decreases in the book value of associated companies and financial investments.