Lundin Energy ORRON
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Full analysis: 6 Apr 2026
Latest news check: 6 Aug 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Hold/wait for clearer visibility on closing terms and timing for the Cloudberry transaction and for Q2 results (cash flow, project monetisation and debt trajectory).
The Cloudberry deal improves the balance sheet and may reduce financing and dilution needs, yet short-term uncertainty remains around cash flow, project monetisation execution and value creation in the development portfolio.
Market sentiment
6/10
→
Trend: Stable
Sentiment has normalized after the post-Q1 sell-off, but the Cloudberry transaction is a clear structural positive via expected deleveraging and increased exposure to a larger Nordic IPP.
Price context
The share closed at 6.8 SEK after a 1.4 % decline on the report day. The level sits roughly 35 % below the 52-week high but 70 % above the low, signalling ongoing volatility around the transaction.
Risk assessment
6/10
Dilution:
Medium
Losses may require capital despite credit headroom
Jurisdiction:
Low
Operations in Nordics and Western Europe
Execution:
High
Must prove scalable profitable project development
Cash flow:
24 mo
Recent changes
- The report shows continued weak profitability driven by low power prices and limited project monetization.
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Show all changes (4) — follow the company freeAbout the company
Lundin Energy sold its oil and gas business to Aker BP in 2022 and the remaining company is now Orrön Energy. It develops and operates renewable assets in the Nordics and is building a European solar and battery storage development pipeline. Profitability is currently pressured by low Nordic power prices and the company is in a transition/growth phase.
Sector:
Renewable energy (wind, hydro, solar and battery storage)
Type:
Energy
Next report
4 Nov 2026
Q3
Catalysts
Dec 2026
Ruling in legacy Sudan case
Medium
Q3 2026
Construction decisions for new projects
Medium
Q4 2026
Monetisation of project portfolio
High
Horizon:
Bull case
The Cloudberry transaction can deliver substantial debt relief and position Orrön as a major owner in a larger Nordic IPP.
Bear case
Continued low Nordic power prices and uncertainty around project monetisation may keep profitability subdued for longer.
Signal rationale (informational)
The Cloudberry deal improves the balance sheet and may reduce financing and dilution needs, yet short-term uncertainty remains around cash flow, project monetisation execution and value creation in the development portfolio.
Recent news
- Q2 report was published on 5 August showing revenue of 6.2 MEUR, EBITDA of 0.6 MEUR and net result of −1.2 MEUR. The Cloudberry transaction is progressing with Orrön becoming the largest shareholder at 27.01 % and expected debt relief.
Key figures
Revenue
Q2 2026
EUR 6.2M
EBITDA
Q2 2026
EUR 0.6M
Net income
Q2 2026
EUR -1.2M
Price & valuation
Last close
SEK 6.93
1 week
+1.9 %
3 months
-27.4 %
12 months
+68.7 %
From 52w high
-33.5 %
From 52w low
+72.8 %
Exchange
Stockholm
Type
Energy
Sector
Renewable energy (wind, hydro, solar and battery storage)
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.