Reference is made to the trading update on 21 January that included unaudited financial statements for 2020. The audited annual report for 2020 is now available on the company's website edeaholding.com and attached to this announcement. The highlights are as follows:

FY2020 financial highlights

The EDEA Group financed 169 leasing contracts in 2020, representing NOK 10 million in asset acquisition cost. This corresponds to NOK 1 million in annual recurring revenue (ARR) which represents revenue from customer contracts over the following twelve months. The backlog of projects that are sold and not yet installed as of 31.12.20 was NOK 11.6 million. 

The Group's operating revenues for the financial year 2020 were NOK 0.2 million. Total operating expenses were NOK 3.4 million, of which NOK 2.6 million were establishment costs and NOK 0.1 million in depreciation expenses. 

The Group had assets of NOK 151.7 million as of 31 December 2020. Fixed assets were NOK 9.9 million. Current assets were NOK 141.8 million, of which cash represented NOK 136.6 million. 

The cash flow from operations was NOK -3.7 million for the financial year 2020. The cash flow from investing activities was NOK -10.0 million, while the cash flow from financing activities was NOK 150.3 million.