Statkraft AS: Results for the third quarter of 2014
(Thomson Reuters ONE) -
Solid financial performance in the quarter
(Oslo, 6 November 2014) In the third quarter of 2014, Statkraft achieved an
underlying[1] operating profit before depreciation (EBITDA) of NOK 2282 million,
compared with NOK 1867 million in the corresponding period in 2013. Major
currency effects and non-recurring items resulted in a net profit after taxes of
NOK 4151 million, compared with a loss of NOK 1681 million in the third quarter
of 2013.
The average Nordic power price was 31.8 EUR/MWh. This is 11 per cent lower than
in the third quarter of 2013. The Group's power production totalled 12.2 TWh, an
increase of 9 per cent compared with the same quarter in 2013.
"Statkraft's underlying operating profit (EBITDA) for the third quarter ended at
NOK 2282 million, which is an improvement of 22 per cent compared with the
corresponding quarter in 2013. Long-term power contracts and higher hydropower
production in the Nordic countries offset the impact of the low power prices.
The results from market activities were also better than in the third quarter of
last year. The financial performance in the quarter is solid and shows the
robustness of Statkraft's activities," says CEO Christian Rynning-Tønnesen.
Major positive currency effects as a result of a stronger NOK against the EUR,
and overall gains totalling NOK 2276 million from the sale of power plants in
Finland and ownership interests in wind power plants in the UK, had a positive
impact on the quarterly results. Impairment on a project in Turkey contributed
negatively with NOK 1050 million. Net profit after taxes ended at NOK 4151
million, an improvement of NOK 5832 million compared with the third quarter of
2013, which was a quarter with significant negative currency effects. The
currency effects are offset by translation effects in equity.
The Statkraft Group has substantial investment activity within renewable energy.
The Kjensvatn power plant in Norway officially opened in September. Hydropower
plants in Norway are being refurbished and several international hydropower
projects are currently under construction. The building of a new wind farm in
Sweden and start-up of the Dudgeon offshore wind power project in the UK are
going as planned. It is also being developed district heating in Sandefjord and
Moss in Norway.
"The completed transactions and ongoing investments will help strengthen
Statkraft both in Norway and internationally," says Rynning-Tønnesen.
Statkraft is a leading company in hydropower internationally and Europe's
largest generator of renewable energy. The Group produces hydropower, wind
power, gas-fired power and district heating and is a global player in energy
market operations. Statkraft has 3600 employees in more than 20 countries.
For additional information:
Head of Investor Relations Thomas Geiran, tel.: +47 905 79 979, e-mail:
thomas.geiran(at)statkraft.com
Press spokesperson Knut Fjerdingstad, tel.: +47 901 86 310, e-mail:
knut.fjerdingstad(at)statkraft.com
SVP Corporate Communications Bente E. Engesland, tel.: +47 911 59 952, e-mail:
bentee.engesland(at)statkraft.com
or www.statkraft.com
--------------------------------------------------------------------------------
[1] Adjusted for unrealised changes in value and material non-recurring items
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Statkraft Q3 2014 Presentation:
http://hugin.info/133427/R/1868929/656950.pdf
Statkraft Q3 2014 Interim Report:
http://hugin.info/133427/R/1868929/656949.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Statkraft AS via GlobeNewswire
[HUG#1868929]
Unternehmensinformation / Kurzprofil:
Datum: 06.11.2014 - 08:01 Uhr
Sprache: Deutsch
News-ID 350230
Anzahl Zeichen: 4532
contact information:
Town:
Oslo
Kategorie:
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