2020: Statkraft Publishes Results

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Statkraft achieved an underlying EBIT (operating profit) of NOK 1.6 billion in the fourth quarter. Net profit in the quarter ended at NOK 3.7 billion / Underlying EBIT for 2020 was NOK 6.7 billion and net profit NOK 3.5 billion.

"The financial results for 2020 was satisfactory given the very low Nordic power prices. The main reasons were successful hedging and solid contribution from other market activities. The reservoir filling in the Nordics has normalised at the start of 2021, leading to an increase in the power prices," says CEO Christian Rynning-Tønnesen. Fourth quarter The average Nordic system price in the quarter was 13.7 EUR/MWh, a decrease of 65 per cent compared with the same quarter in 2019. Total generation was 17.2 TWh in... ... More: Official Press Release Statkraft

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Statkraft, results, quarter, Q4, full year, EBIT, net profit, 2020, wind power, asset