Arendals Fossekompani Q2 operating profit more than doubled to NOK 123 million; revenue slips 2% to NOK 884 million

• Arendals Fossekompani posted Q2 revenue of NOK 884 million, down 1.67% year over year.
• Operating profit climbed to NOK 123 million, lifting operating margin to 14% from 4% a year earlier.
• Profit after tax swung to a loss of NOK 23 million, with basic/diluted EPS at NOK -0.26.
• Cash and cash equivalents were NOK 1.44 billion at June 30; net interest-bearing debt was NOK 246 million.
• Volue deal with TA Associates closed July 24, generating cash proceeds of EUR 36.1 million; Volue also proposed buying Energy One.

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