31 May 2023 Aega ASA had revenues ofEUR 722 thousand in the first quarter of 2023 (Q1 2022 EUR 457 thousand). EBITDA was positive withEUR 303 thousand (210). "We are pleased to report increasing production in line with our own expectations. Our focus on efficient operations and cost control remains, and even though there are some seasonal effects in Q1 I am satisfied to see this reflected in a strong cash flow from operations and positive EBITDA. We have proved our business model, and with a cost effective, dedicated, and persistent team the question is now about finding partners or investors to execute on the many business scaling opportunities we see in one ofEurope's best regions for solar power", says CEONils P. Skaset . The European energy situation: "The energy markets are still volatile and even though Italian (gas) inventories are high, as the winter was mild, we still see disturbances that leads to large, if no longer extreme, price fluctuations in the electricity markets. We prepare for several outcomes when it comes to second half of 2023 and have done some hedging for this period" Skaset adds. Attached is the company's first quarter report. For more information contact Nils P. Skaset, CEO +47 951 88 154 ceo@aega.no About AgeaAega ASA is an energy company listed on Euronext Expand inOslo . Aega's main focus is the solar power market. The company acquires and operates smaller existing Italian solar power plants. In addition to being an industrial energy producer we also consider investments in the solar and renewable energy sector. The company's head offices are inOslo (NO) andTrento (IT). For more information, see www.aega.no
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