Elmera Group recorded an adjusted net revenue of NOK 486m in the fourth quarter
of 2024, an increase from NOK 474m in the fourth quarter of 2023. Adjusted EBIT
was NOK 154m, in line with NOK 157m in fourth quarter 2023. 

Volume sold decreased by 9% compared to Q4 2023, primarily due to milder weather
conditions. In Norway, average monthly temperatures were 3-5°C higher than in Q4
2023, which contributed to reduced consumption.

-The fact that we were able to mitigate the volume decrease, highlights the
importance of the Group's product management efforts over the past year, says
CEO, Rolf Barmen. 

In 2024, the Group achieved robust financial performance by meeting all its
financial targets. Net revenue increased across all segments, and disciplined
cost control was maintained, with full-year adjusted operating expenses
remaining in line with FY 2023.

"I am proud to say that we have delivered on all of our financial targets for
2024, and we are excited to continue the journey in 2025.", says Barmen. 

The financial outlook for 2025 is maintained. 

Please find attached the quarterly report and quarterly presentation. 

Results presentation: 13 February 2025 at 08.00 CET 

The presentation will be webcasted live at: 

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250213_2

For further information, please contact: 
Morten A. W. Opdal, Head of Group Accounting, Reporting and IR, +47 970 62 526