Magnora ASA (SVMRF) Q1 2026 Earnings Call Prepared Remarks Transcript

Erik Sneve
Chief Executive Officer

Good morning and welcome to Magnora’s Q1 presentation 2026. How are you? So highlights for the quarter and subsequent events. We reached our 10 gigawatt portfolio in the first week of January. We’ve advanced multiple sales processes during the quarter as we mentioned end of last year and in February. So we have very positive development on that side. We have grown the data center portfolio to 410 megawatt gross, net 290 megawatt to Magnora. We expect that Finnish and Swedish project may be for sale already this year. And our Finnish project received its building permit last week and we’re very happy about that.

We launched our DC origination business also in Magnora Italy and South Africa. We have signed a project in Italy, I’ll get back to that. We have seen a noticeable pickup in interest for renewable projects, in particular, in April. We didn’t really see it in Europe in March, but we have seen strong incoming interest, in particular, in Germany and the U.K. and Norway. In addition, we’re pleased to say that we have engaged Arctic Securities to explore a potential 2026 listing of Magnora’s data center business reflecting the strong market interest we’ve seen in our organization as a developer, but also from the financial community.

We’re delivering on our strategy and returning over NOK 1 billion to our shareholders. For new readers and listeners, we’ve had 20% return on equity since 2020 and returned over NOK 1 billion to our shareholders. 28% annual average shareholder return over these years. And we’re now ready to grow into the data center space, providing better margins and higher growth, in particular, in the Nordics going forward.