OKEA reports improved net cash position and profit growth for Q3 2026
OKEA ASA increased its net cash position to USD 180 million in the third quarter of 2026, driven by stable operating income and improved net profitability.
Trondheim-based OKEA ASA reported a net profit of USD 29 million for the third quarter of 2026, rising from USD 14 million in the same period last year. The firm ended the quarter with a cash balance of USD 476 million, securing a net cash position of USD 180 million compared to USD 59 million a year ago.
Operational performance remained stable, with operating income reaching USD 332 million, nearly matching the USD 334 million recorded in the previous year's third quarter. EBITDA reached USD 192 million, reflecting a moderate decline from the USD 207 million reported during the same period in 2025.
The company confirmed that the Bestla project is tracking ahead of its initial schedule and is expected to come on stream before the end of 2026. Management noted that current cost estimates for the project are trending below previous projections. The company expects the current financial liquidity to support a return to quarterly dividend payments.