Redeye considers Arise’s Q1 2024 report to be better than expected, as the production segment managed to generate a higher EBITDA than expected due to a mix of higher realised electricity prices and lower costs than expected. The development segment also beat our estimates due to projects Kölvallen and Fasikan generating higher revenues than expected (boosted by FX). The segment also got a significant revenue boost from project Lebo, generating 8GWh for the segment. All in all, we consider the report solid.
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