Magnora Data Center ASA posted a net loss of NOK 14.6 million in the second quarter of 2026, an increase from the NOK 6.1 million loss recorded in the first quarter, according to figures released ahead of its earnings call. For the first half of 2026, the company reported a total net loss of NOK 20.7 million.
The Oslo-listed firm, which went public on Euronext Growth Oslo in June 2026 via a NOK 650 million private placement backed by nearly 30 Nordic and international mutual and pension funds, maintained a cash position of NOK 630 million at the end of Q2 2026. Magnora’s portfolio capacity stood at 650 megawatts as of June 30, 2026, with the company operating as an asset-light developer of "powered land"—securing sites, permits, and grid access before handing projects to customers for construction and operations.
Shares in Magnora Data Center rose 4.03% to $14.96, extending a 12.7% gain over the prior week. The stock has traded between $10.60 and $16.40 over the past 52 weeks, with an average daily volume of 320,000 shares. Analysts maintain a Strong Buy consensus with a price target of $1.82, implying approximately 20% upside potential.
Management highlighted progress on its Storespeed project in Sweden, where it secured land, permits, grid agreements, and a letter of intent for additional power within eight months. The project is divided into two phases, with Phase 1 targeting 120 MW and Phase 2 expanding to 250 MW across a 150,000 square meter site. Magnora also increased its stake in the Hämeenlinna project during the summer, now holding a 100% ownership position.
Chairman John Hamilton, who took over from Torstein Sannes in May, emphasized the company’s role as Europe’s first listed pure-play data center stock. "The ability to provide powered land in Europe is lagging market demand," Hamilton stated. The company’s greenfield origination model and selective M&A strategy were also underscored as key differentiators in a tightening market for data center infrastructure.
