Aker Carbon Capture AS: Fourth quarter 2024 results

Rhea-AI Summary

Aker Carbon Capture ASA reported strong financial results for Q4 2024, with a net profit of NOK 21 million, cash position of NOK 4.6 billion, and equity of NOK 5.5 billion. The Board has proposed an extraordinary cash dividend of NOK 5.80 per share, totaling NOK 3.5 billion.

The company's joint venture, SLB Capturi, achieved several significant milestones: completing the world's first full-scale carbon capture facility at Heidelberg Materials Brevik cement plant in Norway, winning an EPCIC contract for Hafslund Celsio's waste-to-energy facility in Oslo, and successfully commissioning its first modular carbon capture plant at Twence's facility in Netherlands.

SLB Capturi is also executing multiple projects across Europe, including the deployment of five Just Catch systems at Ørsted's biomass-to-energy sites in Kalundborg, Denmark, designed to capture 500,000 tonnes of CO2 annually.

Positive

• Net profit of NOK 21 million in Q4 2024
• Strong cash position of NOK 4.6 billion
• Proposed extraordinary dividend of NOK 5.80 per share (NOK 3.5 billion total)
• Completion of world's first full-scale carbon capture facility at cement plant
• New EPCIC contract win for Oslo waste-to-energy facility
• Successful commissioning of first modular carbon capture plant in Netherlands

Negative

• None.

FORNEBU, Norway, Feb. 13, 2025 /PRNewswire/ -- Aker Carbon Capture ASA (ACC ASA) ended the fourth quarter 2024 with NOK 4.6 billion in cash and a equity position at NOK 5.5 billion. The Company reported net profit of NOK 21 million in the quarter.

Reference is made to the announcement of 12 February 2025 that the Board of Directors of Aker Carbon Capture ASA has determined the way forward for the Company and proposes an extraordinary cash dividend of NOK 5.80 per share, in total NOK 3.5 billion.   

SLB Capturi
In the fourth quarter, SLB Capturi, the joint venture between ACC ASA and SLB, reached a significant milestone with the mechanical completion of the world's first full-scale carbon capture facility at a cement plant, the Heidelberg Materials Brevik plant in Norway. The development will now move into commissioning phase and is planned to be operational by 2025.

In January 2025, SLB Capturi, in collaboration with Aker Solutions, was awarded an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Hafslund Celsio AS to deliver a carbon capture solution at their waste-to-energy facility at Klemetsrud, Oslo.

Earlier in January, ACC ASA announced that SLB Capturi had completed commissioning and is handing over its first modular carbon capture plant at Twence's waste-to-energy facility in Hengelo, Netherlands.

SLB Capturi is currently delivering across multiple sites and is engaged in some of Europe's most significant carbon capture projects including Kalundborg, Denmark, where five Just Catch systems are being deployed by Ørsted across two biomass-to-energy sites with design capacity of capturing 500,000 tonnes of CO2 each year, as part of Denmark's first full-scale carbon capture and storage (CCS) value chain implementation.

A summary of Q4 2024 financials is attached.

For further information:

Media and Investors:
Mats Ektvedt, mob: +47 41 42 33 28, email: mats.ektvedt@corpcom.no 

About Aker Carbon Capture

Aker Carbon Capture ASA was established as a separate entity in 2020, building on more than 20 years long experience and maturation of the carbon capture technology within Aker. Following an agreement with SLB, a joint venture between SLB and Aker Carbon Capture was established in June 2024. The JV, SLB Capturi, is headquartered in Oslo, with SLB owning 80% and Aker Carbon Capture ASA owning 20%, two strong companies with proven track record of building successful industrial businesses positioned for substantial growth.

www.akercarboncapture.com 

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ACC Q4 2024 Financials

FAQ

What is Aker Carbon Capture's (AKRCY) dividend payout for Q4 2024?

Aker Carbon Capture has proposed an extraordinary cash dividend of NOK 5.80 per share, totaling NOK 3.5 billion.

What was AKRCY's net profit in Q4 2024?

Aker Carbon Capture reported a net profit of NOK 21 million in Q4 2024.

What major projects did SLB Capturi complete in Q4 2024?

SLB Capturi completed the mechanical construction of the world's first full-scale carbon capture facility at Heidelberg Materials Brevik cement plant in Norway.

How many tonnes of CO2 will the Kalundborg project capture annually?

The five Just Catch systems at Ørsted's biomass-to-energy sites in Kalundborg, Denmark, are designed to capture 500,000 tonnes of CO2 annually.

What new contracts did AKRCY secure in January 2025?

In January 2025, SLB Capturi won an EPCIC contract from Hafslund Celsio AS for a carbon capture solution at their waste-to-energy facility in Oslo.