Q1 2022 Highlights: 
-Group net revenue of 484 NOKm and EBIT adj. of 160 NOKm in the quarter - in
line with trading update
-Loss of 20k electricity deliveries in the quarter - however, the trend at the
end of the quarter was fairly stable
-All time high financial performance in the Business segment this quarter
-Warm weather - volume sold decrease 20% YoY, negatively affecting the Consumer
segment and Alliance in particular
-Share buyback program initiated, starting from 5 May 2022
-Dividend of NOK 3.5 per share for 2021 to be distributed to eligible
shareholders today, 5 May 2022


Mild weather and low consumption volumes

The first quarter of 2022 has been a quarter with mild weather across the
Nordics. This results in lower consumption volumes and has affected both the
Consumer and NGI segments negatively this quarter. The Business segment,
however, is delivering its best financial performance of all time, with an EBIT
adj. of 100 NOKm.  The Group's net revenue adj. was 484 NOKm and EBIT adj. was
160 NOKm in Q1 2022. 

Elspot prices remain at a very high level, driven by the weather situation and
the oil & gas price level, which again is affected by the ongoing war in
Ukraine. The peak/off-peak differences continue to affect the Nordic segment
negatively, however, there were no losses from under-hedging of the fixed price
contracts in the quarter.

On the annual general meeting on 26 April, the company name was changed to
Elmera Group ASA. This was done to reflect that The Group constitutes a
diversified business consisting of significantly more than the electricity
supplier Fjordkraft AS and the development of the business and the company
portfolio is expected to continue under the Group's new name going forward.


Please find attached the quarterly report and quarterly presentation. 


The presentation will be webcasted live, 5 May 2022 at 08.00 CET:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20220505_1

For further information, please contact: Morten A. W. Opdal, Head of Controlling
and Investor Relations, +47 970 62 526