OB:MGNRenewable Energy
Magnora (OB:MGN) Can Cash Rich Expansion Offset Deepening Losses?
The market came into these Q2 numbers already cool on Magnora, with the stock down about 29% over the past three months and drifting in the last month. Yet behind today’s small move sits a quarter defined less by revenue and more by the cost of pursuing growth in renewables and data centers.
The headline is simple. Magnora is still lossmaking, with Q2 net income showing a 28.9m NOK loss on just 2.1m NOK of revenue. However, it now has a listed data center arm and close to 1.0b NOK in...