Cloudberry Clean Energy: Fourth Quarter 2021 Financial Results

Cloudberry Clean Energy ASA (Oslo: CLOUD) reports growth in production, revenue, and balance sheet for the fourth quarter of 2021. Higher power prices increased revenues.

The quarterly production, proportionate, totaled 48 GWh, compared to 13 GWh in the fourth quarter of 2020.

Revenue in the fourth quarter grew from NOK 2 Million (USD 0,22M) in 2020 to NOK 22 M (USD 2,4M) in 2021 (consolidated).

The quarterly EBITDA was NOK -7 M (USD – 0,78M), up from NOK -16 M (USD 1,7M) in the same quarter last year (consolidated).

Equity has increased from NOK 1,055 M (USD 117M) to NOK 2,637 M (USD 294M) from year-end 2020 to year-end 2021. Cash and cash equivalents have increased to NOK 1,115 M (USD 124M). Total interest-bearing debt stands at NOK 304 M (USD 33M) as of year-end.

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