Third quarter report

29.11.19 | Press releases

Oslo (Norway) – November 29, 2019: Element ASA (Element, OSW: ELE) publishes today report for The third quarter 2019.

The main headlines for the third quarter included:

  • Loss after tax from ongoing operations for the quarter was USD -1.0 million, which is an improvement of 81% or USD 4.2 million compared to the same quarter of 2018. - Net loss including discontinued operations was USD -2.7 million.
  • Operating loss was -0.8 million, which is a 42% improvement compared to same quarter in 2018 and a USD 0.2 million improvement compared to the previous quarter.
  • Net financial cost was USD -0.25 million, an improvement of USD 3.7 million measured against the same quarter of 2018.
  • In August Element acquired PALCapital Ventures Inc. and settled the transaction by issuing 2,650,000 new shares in Element to the seller.

Read the report here.

Geir Johansen CEO
+47 4771 0451

Thomas Christensen
+47 9225 5444