Vår Energi reports fourth quarter and full year 2021 results
Sandnes, Norway, 1 March 2022: Vår Energi ASA (OSE: VAR) today reported USD 2 274 million in total income for the fourth quarter of 2021 and USD 6 073 million for the full year, an increase of 40% and 110% from the third quarter of 2021 and full year 2020 respectively, primarily driven by higher oil and gas prices. Profit before taxes was USD 1 124 million in the quarter (+87%) and USD 2 498 million for the year compared to a net loss in 2020. Cash flow from operations (CFFO) was USD 923 million in the quarter and USD 4 438 million for the full year. The Company maintains its 2022