Statkraft AS: Result for the second quarter 2017
(Thomson Reuters ONE) -
Strong operating result
(Oslo, 20 July 2017) Statkraft AS recorded an underlying EBITDA of NOK 3047
million in the second quarter of 2017. This was an increase of NOK 609 million
compared with the corresponding period in 2016. The quarterly net profit reached
NOK 1884 million.
The improvement in underlying EBITDA was mainly driven by higher Nordic power
prices. The average Nordic system price in the quarter was 27.4 EUR/MWh, an
increase of 15% compared with the price level experienced in the same period in
2016. Statkraft's total production was 14.6 TWh, an increase of 3% compared with
the second quarter in 2016.
- Statkraft has demonstrated its ability to generate solid earnings during
changing market conditions and to deliver on measures to support the Group's
financial position. I am pleased to see that this has led the rating agency
Standard & Poor's to affirm Statkraft's rating at "A-" and to revise the outlook
upwards to "stable", says CEO Christian Rynning-Tønnesen.
The Performance Improvement Programme is on track and approximately 25% of the
NOK 800 million cost reduction target has been achieved so far.
Statkraft evaluates investments in hydro, wind and solar power. The construction
of Statkraft's second solar power plant has started.
In total for the first half year of 2017 Statkraft had an underlying EBITDA of
NOK 8233 million, an increase of NOK 1794 million compared with the
corresponding period in 2016. The main drivers for the improvement were higher
power prices, increased contributions from market operations and lower property
tax. Net profit for the first half year ended at NOK 4633 million.
For further information, please contact:
Debt Capital Markets:
Funding manager Stephan Skaane, tel: +47 905 13 652, e-mail:
stephan.skaane(at)statkraft.com
Head advisor Yngve Frøshaug, tel: +47 900 23 021, e-mail:
yngve.froshaug(at)statkraft.com
Media:
Press spokesperson Knut Fjerdingstad, tel: +47 901 86 310, e-mail:
knut.fjerdingstad(at)statkraft.com
SVP Bente E. Engesland, tel: +47 911 59 952, e-mail:
bente.engesland(at)statkraft.com
or www.statkraft.com
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 3800 employees in more than 20 countries.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Interim report Q2 2017:
http://hugin.info/133427/R/2121456/808350.pdf
Presentation Q2 2017:
http://hugin.info/133427/R/2121456/808351.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Statkraft AS via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 20.07.2017 - 08:00 Uhr
Sprache: Deutsch
News-ID 553111
Anzahl Zeichen: 3458
contact information:
Town:
Oslo
Kategorie:
Business News
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