Statkraft AS: Result for the first quarter
Record-high operating result
(Oslo, 6 May 2021) Higher power prices and increasedgeneration resulted in a record-high underlying operating result. Statkraft continued to deliver on its strategy and initiated new renewable projects in the quarter.
The underlying EBIT was NOK 7.2 billion in the quarter, an increase of NOK 3.1 billion from the first quarter last year.
“The underlying operating result was the best ever achieved in a single quarter, following higher Nordic power prices and successful energy management”, says CEO Christian Rynning-Tønnesen.
The average Nordic system price was 42.3 EUR/MWh, an increase of 26.9 EUR compared with the low price in the first quarter of 2020. Total power generation increased by 16 per cent to 20.6 TWh.
A strengthening of NOK against EUR had a positive effect on net financial items, which ended at NOK 1.5 billion. Net profit was NOK 4.8 billion, an increase of NOK 6.7 billion compared with the result in the first quarter last year.
Cash flow from operating activities in the quarter was solid at NOK 4 billion. The net interest-bearing debt to equity ratio was 18.6 per cent, giving room for significant new investments within renewable energy.
During the quarter, Statkraft initiated several new projects. In Chile, the company has decided to build its first wind farms, broadening the company’s renewable energy portfolio in the region. The 102 MW project consists of three wind farms, which are expected to generate more than 300 GWh of renewable energy annually.
In addition, Statkraft has signed a collaboration agreement with Yara and Aker Horizons, aiming to establish Europe’s first large-scale green ammonia project in Norway. Statkraft also entered into a partnership with Aker Offshore Wind to explore offshore wind in the southern North Sea outside Norway.
“Statkraft continues to develop new business opportunities in the green transition, which also support sustainable development goals and value creation”, says CEO Rynning-Tønnesen.
Following the transfer of the operatorship of the Roan wind farm to TrønderEnergi in February, Statkraft has divested the ownership interest in the wind farm to TrønderEnergi and Stadtwerke München. Statkraft will maintain its ownership and role as an operator of the five remaining wind farms in Fosen Vind. The sale proceeds will further strengthen Statkraft’s financial capacity to invest in renewable energy.
For further information, please contact:
Debt Capital Markets:
Funding manager Stephan Skaane, tel: +47 905 13 652, e-mail: stephan.skaane@statkraft.com
Senior Financial Advisor Arild Ratikainen, tel: +47 971 74 132, e-mail: arild.ratikainen@statkraft.com
Media:
Head advisor Lars Magnus Günther, tel: +47 912 41 636, e-mail: lars.gunther@statkraft.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 4500 employees in 17 countries.
Attachments
To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
GlobeNewswire by notifiedGlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release
Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a
DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release
Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68
Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release
Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.
Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release
AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us
Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release
VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin