Statkraft – Financial calendar 2012
Dates for disclosing of Statkraft’s financial results in 2012.
Result from operations holds steady
In the third quarter, Statkraft achieved an underlying1 operating profit before depreciation (EBITDA) of NOK 1751 million, compared with NOK 1830 million in the corresponding quarter last year. The underlying operating profit after depreciation (EBIT) of NOK 1188 million was on a par with last year. As a result of unrealised changes in value and write-downs, the posted result after tax was a loss of NOK 1583 million, compared with a profit of NOK 1163 million in the third quarter of 2010.
Statkraft SF – Revised first half accounts 2011
In connection with the preparation of the Statkraft AS interim accounts for the third quarter of 2011, an error was discovered in the calculation of fair value and unrealised changes in value for a power sales agreement related to the Herdecke gas power plant. The error had a negative effect of NOK 415 million on the share of profit from associates and joint ventures for Statkraft SF in the first half of 2011. The shareholding in Herdecke is reported under the segment Continent energy and trading.
The National Budget: Statkraft is proposed to pay 85 percent in dividends
Today, the Government presented its National Budget Proposals for 2012, under which Statkraft SF will pay a dividend of NOK 5015 million. This corresponds to 85 percent of expected 2011 net profit after minority interests adjusted for unrealised gains and losses, forecasted by the Ministry of Trade and Industry.
Statkraft to build its third hydropower plant in Turkey
Statkraft has decided to construct the Cetin hydropower plant in Turkey. The power plant will be Statkraft’s largest hydropower plant outside Norway, with an installed capacity of 517 MW. Cetin will have an average annual production of 1.4 TWh, enough to supply electricity to 460,000 Turkish homes. The investment cost is estimated to about EUR 500 million.
Satisfactory operations and extraordinary write-downs
In the second quarter, Statkraft achieved good results in the underlying operations. Through lower production, but higher prices, the underlying1 operating profit before depreciation (EBITDA) amounted to NOK 1822 million, compared with NOK 1733 million in the corresponding quarter last year. As a result of unrealised changes in value on energy contracts and write-down of the shares in E.ON AG, the posted loss after tax was NOK 929 million, compared with a profit of NOK 1063 million in the second quarter of 2010.
Statkraft SF – Interim report 1H 2011
Please find the enclosed Statkraft SF’s interim report for the first half year 2011.
Statkraft – Release of second quarter results 2011
Statkraft discloses second quarter results 2011 on Thursday 18 August 2011 at 08:00 AM CET.
Jens Bjørn Staff named new CFO of Statkraft
Jens Bjørn Staff (44) has been appointed Executive Vice President and CFO of Statkraft. Jens Bjørn Staff comes from the position of Head of Finance & Control for Europe & Asia in Development & Production International in Statoil ASA.
Statkraft to build onshore wind farms in Sweden and Scotland
Statkraft has decided to construct Mörttjärnberget Wind Farm in Sweden and Baillie Wind Farm in Scotland, both to be completed in 2013. This strengthens Statkraft’s position as the European leader in renewable energy and contributes to combating climate change. Both wind farms will be built and operated in cooperation with local partners. Statkraft’s total investment is expected to amount to approximately EUR 250 million.
Publication of Offering Circular
The following offering circular has been approved by the UK Listing Authority and is available for viewing:
Lower power generation yielded reduced profit
A weaker resource situation and lower energy generation as a result of high production in 2010 yielded an underlying* EBITDA of NOK 4249 million for Statkraft in the first quarter of 2011 - compared with NOK 5912 million in the corresponding quarter in 2010. Net profit amounted to NOK 2809 million, compared with NOK 4533 million in the first quarter of 2010.
Statkraft AS – Adjusted dividend distribution for 2010
In connection with the Revised National Budget for 2011, released by the Norwegian Government today, Statkraft is informed that the dividend from Statkraft to the Norwegian state has been set at NOK 7985 million, an increase of NOK 2.8 billion from the previously announced NOK 5185 million, due to improved financial results of 2010 relative to earlier estimates. The adjusted dividend equals 85 per cent of Group profit after tax and minority interests, adjusted for unrealised gains and losses.
Statkraft AS – Bond buy-back
Statkraft AS has on 12 May bought back nominal value of NOK 100 million in ISIN NO 001022708 (STAKR07). The trade has been made at market terms.
Statkraft and INEOS ChlorVinyls enter into long-term power agreement
Statkraft has entered into a new long-term power agreement with petrochemical company INEOS ChlorVinyls.
Statkraft AS – Bond buy-back
Statkraft AS has on 3 May bought back nominal value NOK 173.5 million in ISIN NO 001022708 (STAKR07). The trade has been made at market terms.
Statkraft SF publishes Annual Report 2010
Attached is the pdf-version of the 2010 Annual Report for Statkraft SF.
CFO Stein Dale leaves Statkraft
Since April 2005, Stein has been a member of Corporate management and CFO since April 2008 with responsibility for finance, strategy/M&A and legal.
Statkraft AS – 2010 Financial Statements approved
The Board of Directors of Statkaft AS has approved the final 2010 financial statements for the Statkraft AS Group, identical to the preliminary figures announced 17 February 2011.
Statkraft SF – 2010 Financial Statements approved
The Board of Directors of Statkaft SF has approved the final 2010 financial statements for the Statkraft SF Group, identical to the preliminary figures announced 17 February 2011.
Strong result driven by unusual cold winter
Historically cold winter weather with high power prices and efficient management of the water reservoirs yielded an underlying* EBITDA of NOK 5401 million for Statkraft in the fourth quarter of 2010, compared with NOK 4484 million during the same period in 2009. The underlying profit before tax amounted to NOK 5371 million, up from NOK 3986 million in the fourth quarter of 2009.
Statkraft SF - Preliminary result 2010
Statkraft SF – Preliminary results for 2010
Statkraft – Release of fourth quarter results 2010
Statkraft discloses its fourth quarter results 2010 on Thursday 17 February 2011 at 08:00 AM CET. The material will be made available on Statkraft’s website www.statkraft.com and Oslo Stock Exchange www.newsweb.no.
Statkraft signs NOK 12 billion Revolving Credit Facility
Statkraft AS has signed a new 5+1+1-year NOK 12 billion Multi-Currency Revolving Credit Facility.