RESULTS FIRST 8 MONTHS 1999
(Comparable figures for 1998 in parenthesis)
Income before taxes for the Hafslund Group was NOK 515 million (NOK -164 million) for the interim period 1 January to 31. August 1999 and net income was NOK 382 million (NOK -95 million).
Operating profit was NOK 102 million (NOK 236 million) in the first 8 months 1999. Operating revenues were NOK 2,671 million (NOK 1,489 million).
Net financial items (incl. associated companies) amounted to NOK 420 million (NOK -390 million) per second interim period 1999, including net interest expenses of NOK -185 million (NOK -97 million).
Earnings per share were NOK 3.30 per second interim period 1999 (NOK 0,82).
The generation per second interim period 1999 was 2,176 GWh (2,219 GWh), compared to an average generation for the period of 2,026 GWh. Hafslund Produksjon (Generation) Norway achieved an average price of 11.5 øre/kWh in per the second interim period of 1999 (12.8 øre/kWh). Operating profit is affected by a loss of USD 8.7 million related to trading activities in the US, and non-recurring expenses of NOK 24 million related to termination of a 1 TWh contract with Østfold Energi.
The investment in Saga Petroleum is realized with a net profit of NOK 505 million and included in net financial items.
For full press release and report including tables, follow the enclosed link.