Interim report, January-March 2012 Rabbalshede Kraft AB (publ)

  • Production from the Group’s wind farms from January to March amounted to 47,929 (34,250) MWh.
  • Net sales totaled KSEK 27,703 (25,133).
  • The average electricity price per presold MWh from January to March 2012 was SEK 410/MWh (523). Net revenues from sales of electricity certificates averaged SEK 166/certificate (209) from January to March 2012.
  • Operating profit before depreciation/amortization and impairment (EBITDA) amounted to KSEK 18,710 (26,652) and operating profit (EBIT) to KSEK 7,301 (19,753).

First quarter, January-March 2012

Production from the Group’s wind farms from January to March amounted to 47,929 (34,250) MWh.

Net sales totaled KSEK 27,703 (25,133).

The average electricity price per presold MWh from January to March 2012 was SEK 410/MWh (523). Net revenues from sales of electricity certificates averaged SEK 166/certificate (209) from January to March 2012.

Operating profit before depreciation/amortization and impairment (EBITDA) amounted to KSEK 18,710 (26,652) and operating profit (EBIT) to KSEK 7,301 (19,753).

Depreciation/amortization totaled KSEK 11,409 (6,899). The Company posted a loss after tax of KSEK 588 (profit: 11,159).

An agreement was signed with Enercon for the delivery of 14 2.3 MW wind turbines to the Dingle-Skogen Vind wind farm in the Municipality of Munkedal. The wind farm is expected to be ready for production during the second half of 2013, at which time it will produce about 82,000 MWh annually.

A bank-financing agreement was signed with DNB, which ensures the Company’s build-out plans for the Dingle-Skogen Vind wind farm, as well as the refinancing of the existing Brattön och Kil wind farms.

In the first quarter of 2012, a permit application was submitted to the County Administrative Council for the Ljungskile Hoven Project encompassing five turbines in the Municipality of Uddevalla.

Significant events after the close of the period

The Municipality of Kungälv granted approval for the Vävra Berg wind farm encompassing five turbines. The municipality’s approval was needed to so that the county administrative board could issue a permit in accordance with the Swedish Environmental Code.

Thomas Linnard, President           
Tel. 46 (0)525 - 197 11, 46 (0)706 100 120               
thomas.linnard@rabbalshedekraft.se

Kent Söderström, CFO
Tel. 46 (0)525-197 13, 46 (0)733 307 280
kent.soderstrom@rabbalshedekraft.se

Rabbalshede Kraft AB (publ)
Marknadsvägen 1
SE-457 55 Rabbalshede, Sweden

Telephone 46 (0)525-197 00
E-mail info@rabbalshedekraft.se
www.rabbalshedekraft.se
Corp. Reg. No. 556681-4652

This is Rabbalshede Kraft
Rabbalshede Kraft AB (publ) is a fast-growing player in wind power with four wind farms in operation, one farm under construction and about 350 wind turbines in the procurement, application or planning phase. Rabbalshede Kraft’s overriding objective is to create value growth for the Company’s shareholders – proprietarily, in partnership with other companies and through the divestment of entire farms and individual wind turbines – by contributing to the commissioning of 250 turbines by 2015. To guarantee the long-term capital requirements that the planned build-out requires, the Company is preparing an application for listing on the NASDAQ OMX Stockholm exchange. Follow the Company’s progress at www.rabbalshedekraft.se

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About Us

Rabbalshede Kraft AB (publ) plans and establishes proprietary land-based wind farms, in collaboration with other players or for divestment whereby the Company is able to offer operating services. Rabbalshede Kraft was formed in 2005 and currently manages 141 wind turbines of which 71 turbines, in the eight wind farms, are in-house. The electricity produced from the Company’s wind farms in operation is sold in the open electricity market, Nord Pool. Follow the Company's progress at www.rabbalshedekraft.se