Saga Pure: First quarter 2024 financial results

(Oslo, 14 May 2024) Saga Pure ASA (Saga Pure, OSE: SAGA) reported a net profit in the first quarter 2024 of NOK 18 million, giving a return on equity of 2.1 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 first quarter 2024, Saga Pure reported a net profit of NOK 18 million. Saga had in the first quarter a gain on short term investments of NOK 14.2 million, and a loss from associate of NOK 2.3 million. At end of first quarter, Saga had short term investments valued at NOK 167.5 million, and investment in associates with a book value of NOK 32.9 million. Saga Pure had a gain net financial items of NOK 8.3 million, as a result of interest income from loans, bonds and bank deposits.

First quarter of 2024 ended with a return on equity of plus 2.1 percent year to date for Saga Pure. Saga Pure had NOK 636 million in cash and no debt end of first quarter.

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 14 May 2024 at 07:30 CET.