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Statkraft Q3 profitability bolstered by improved wind revenues and profitability
08.11.13Statkraft, INTPOW partner and Europe’s leading renewable energy producer, achieved a healthy operating profit in the quarter as total power production slipped 2% year-on-year to 11.2TWh – but Nordic electricity prices leaped by 72%.
Higher power prices contributed to a good operating profit, and the Underlying earnings (EBITDA) were NKr1.87bn, NKr614m up on the year-ago figure while currency factors plunged it to a net loss of NKr1.68bn against a NKr638m profit in Q3 2012. This is fully offset by other currency effects strengthening the equity position.
Statkraft CEO Christian Rynning-Tønnesen said: "Statkraft's position in wind power is strengthened by new production capacity and new licenses. Two new wind farms came online in the quarter, while another five wind farms are under development in Sweden and the UK. The group received several licences for wind farms in Central Norway."
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