Hafslund in Q2 2009: Operations remain good at Hafslund>
Hafslund in Q2 2009: Operations remain good at Hafslund
(Thomson Reuters ONE) - Hafslund's operational entities are performing well, withsatisfactory results reported for Q2 2009."The sound trend in the first quarter this year has continued throughthe second quarter. Underlying operations have been good, and alloperational entities have progressed well in terms of resultscompared with second-quarter 2008," says Hafslund's President andCEO, Christian Berg.Major projects underwayHafslund is investing substantially in renewable energy. Thisincludes both hydropower, drawing on Hafslund's impressive 110 years'experience, and heating, based on a variety of energy sources."In Oslo, we are now rapidly developing our district heating network,and aim to double our deliveries in the next 5-7 years, basedprimarily on waste incineration, bioenergy and heat pumps. We arebuilding a new energy recovery facility in Sarpsborg, on Borregaard'sindustrial site, which will replace 20,000 tonnes of heavy fuel oiland cut greenhouse gas emissions by over 50,000 tonnes. The newfacility will be ready for trial operations at the turn of the year.In the spring and early summer of next year, we will start trialproduction of wood pellets at our new plant at Averøy, the largest ofits kind in Europe. We are also increasing hydropower output on theGlomma river, partly by building new facilities and partly bymodernising the existing plants," adds Christian Berg.Solid cash flowHafslund posted a second-quarter operating profit of NOK 315 million,with cash flow from operations totalling NOK 731 million. Profitafter tax was NOK 160 million.Increased sales revenuesSecond-quarter sales revenues totalled NOK 2,305 million, NOK 381million up on first-quarter 2008. The increase is largely owing tohigher market prices for electricity on the Nord Pool power exchange.Power generation at normal levelsPower generation for the second quarter totalled 902 GWh, 3 per centless than second-quarter 2008 and on a level with normal output.More district heatingDistrict heating output rose by 6 per cent during the quarter.District heating prices follow electricity prices and, consequently,sales revenues rose by 31 per cent. The new district heating pipelinebetween Klemetsrud and Oslo city centre was officially opened on 23June. The pipeline has a transmission capacity of 500 GWh, capable ofsatisfying the heating needs of 50,000 homes.Hafslund maintains its position in RECHafslund has subscribed for 24.3 million shares in the rights issuein REC and, as a result, will maintain its 14.24 per cent stake inthe company.For more information, please contact:Karen Onsager, SVP Communications and CRMobile: +47 92 08 70 07E-mail: karen.onsager(at)hafslund.noMorten J. Hansen, Finance DirectorMobile: +47 90 82 85 77E-mail: mjh(at)hafslund.noLars Ove Johansen, Investor Relations OfficerMobile: +47 99 29 14 60E-mail: lars.ove.johansen(at)hafslund.noHafslund ASAOslo, 16 July 2009http://hugin.info/57/R/1329076/313611.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 16.07.2009 - 07:29 Uhr
Sprache: Deutsch
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