The Group's sales revenues in Q4 2023 amounted to NOK 571.3 million which is NOK
11.8 million (2.1 %) higher than for the same period in 2022. The trend in sales
revenue in Q4 2023 is positive in the Lighting and Panels segments, but lower
for other segments compared to the same period in 2022. Year to date (YTD) 2023
sales revenues were NOK 2,222.9 million compared to NOK 2,508.2 million YTD
2022.

The Group achieved an EBITDA*) in Q4 2023 of NOK  55.8  million compared to NOK 
58.1  million in the same period last year.

The adjusted operating profit in Q4 2023 was NOK  31.8  million compared to NOK 
37.8  million in the same period last year. The adjusted operating profit YTD Q4
2023 was NOK  203.1  million compared to NOK  268.0  million YTD Q4 2022. The
operating profit contains non-recurring items, please see reconciliation of
adjusted operating profit in Alternative Performance Measures after the notes to
the interim report. The adjusted operating profit in Q4 2023 is higher for the
Lighting segment, but lower for the other segments compared to the same period
in 2022.

From 9 March 2023 the investment in Norske Skog ASA is classified as an
investment in associate and is accounted for using the equity method in
accordance with IAS 28. See note 12 for more information. Share of profit from
associate was NOK 113.8 million in Q4 2023.

The Group achieved a profit before tax in Q4 2023 of NOK 108.6 million compared
to NOK -171.5 million in the same period in 2022. Profit before tax YTD Q4 2023
was NOK 31.3 million compared to NOK 529.4 million YTD 4. kvartal 2022.

YTD Q4 2023, net financials amounted to an expense of NOK 93.2 million which is
NOK 67.7 million weaker compared to the same period in 2022. The main reasons
for the increase in net financial expenses are increased interest rates and
debt, and that there was a finance income on increased value of interest rate
swaps in 2022. Please see note 3 for specification of net financials.

The liquidity reserve*) as at 31 December 2023 amounted to NOK 271.3 million, a
reduction of NOK 41.1 million from 1 January 2023 and a reduction of NOK 62.8
million from 30 September 2023. The Board of Directors will maintain its focus
on capital and cost-efficiency.

Net interest-bearing debt*) decreased from NOK 1,425.4 million as at 1 January
2023 to NOK 1,375.7 million as at 31 December 2023. YTD Q4 2023 long-term
borrowings of NOK 25.8 million as carried out, of which 17.5 million are due to
new lease agreements.

Investments in tangible fixed assets and intangible assets YTD Q4 2023 totalled
NOK 77.2 million which is NOK 53.4 million lower than in 2022. Of the
investments made, capitalised lease agreements amounted to NOK 17.5 million.

The financial accounts for 2022 have been restated following a change in
accounting of power contracts. Please see stock exchange announcement dated 5
February 2023 for more information.

Total assets decreased from NOK 3,259.8 million as at 1 January 2023 to NOK
3,200.6 million as at 31 December 2023.

Booked equity as at 31 December 2023 was NOK 1,129.1 million (35.3 %), which is
an increase of NOK 131.1 million compared to 1 January 2023 (33.1 %). The
reasons for the change in equity are due to the profit of the year of NOK 61.0
million, a currency translation difference of NOK -3.7 million, loss on
financial investment booked in other comprehensive income of NOK 11.0 million
share of other comprehensive income from associate of NOK 5.1 million.

*) Definition of EBITDA, adjusted operating profit, liquidity reserve, profit
margin and net interest-bearing debt are added after the notes. The definitions
have been updated since the last interim report.