Saga Pure: Second quarter 2024 financial results

(Oslo, 29 August 2024) Saga Pure ASA (Saga Pure, OSE: SAGA) reported a net profit in the second quarter 2024 of NOK 11 million, giving a return on equity of 3.3 percent year to date.  Saga Pure is, with no interest-bearing debt and a substantial cash holding, well positioned to pursue new investment opportunities going forward.  Saga Pure continues to invest in line with the broadened mandate, but with a focus on capital discipline, cautious investment approach and selective investments.

For the second quarter 2024, Saga Pure reported a net profit of NOK 11 million. In the second quarter, the Company had a gain on short term investments of NOK 2.5 million and from associate of NOK 2.3 million. At end of second quarter, Saga Pure had short term investments valued at NOK 304.3 million, an increase from 167.5 million at end of first quarter.

Saga Pure had a gain net on financial items of NOK 9.1 million as a result of interest income from loans, bonds and bank deposits. Second quarter of 2024 ended with a return on equity of plus 3.3 percent year to date with NOK 490 million in cash and no debt.

In July Saga completed the sale of the shares in Heimdall Power for NOK 35 million, corresponding to NOK 7 per share.

The Board of Directors’ report is enclosed.

ENDS

For additional information, please contact:

Espen Lundaas, CEO, +47 924 31 417

Tore Jakob Berg, CFO, +47 934 80 202

About Saga Pure | www.sagapure.com

Saga Pure ASA is an investment company with a broad investment mandate.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Espen Lundaas, CEO, Saga Pure ASA, on 29 August 2024 at 07:30 CET.