Interim Report January-September 2014 Rabbalshede Kraft AB (publ)

Significant events during the third quarter, July 1, 2014 – September 30, 2014

  • Production for the third quarter totaled 43,870 MWh (30,070)
  • Net sales totaled KSEK 20,094 (16,341)
  • EBITDA amounted to KSEK 7,683 (8,705)
  • The Company posted an operating loss (EBIT) of KSEK 18,675 (loss: 1,285)
  • The average sales price from wind power production was SEK 510/MWh (560), whereof electricity SEK 335/MWh (353) and electricity certificates and Guarantees of Origin (GoO) SEK 175/MWh (207)
  • All 33 wind turbines in the Skaveröd/Gurseröd, Årjäng NV and Årjäng SV wind farms have been assembled with trial operations initiated. The wind farms are expected to produce 289,400 MWh, which will increase Rabbalshede Kraft’s production capacity by 130%. The earnings will increase significantly from December 2014

The first nine months, January-September 2014

  • Production from the Group’s wind farms during January-September amounted to 156,555 MWh (102,533).  
  • Net sales totaled KSEK 78,114 (57,242).
  • EBITDA amounted to KSEK 47,116 (33,582).
  • The Company posted an operating loss (EBIT) of KSEK -4,827 (profit: 4,507).
  • The average sales price from wind power production was SEK 511/MWh (567), whereof electricity SEK 327/MWh (356) and electricity certificates and Guarantees of Origin (GoO) SEK 184/MWh (211)
  • Depreciation/amortization totaled KSEK 51,943 (29,075). Impairment losses on projects in the third quarter totaled KSEK 13,652. Impairment losses were incurred on the Årjäng NO and Ljungskile Hoven projects that had not received permits, and by other projects that have been discontinued or mothballed due to conditions not being optimal.
  • The Company posted a loss after tax of KSEK 29,453 (loss: 18,068).
  • All 33 wind turbines in the Skaveröd/Gurseröd, Årjäng NV and Årjäng SV wind farms have been assembled with trial operations initiated. The wind farms are expected to produce 289,400 MWh/year, which will increase Rabbalshede Kraft’s production capacity by 130%.
  • Rabbalshede Kraft was granted an environmental permit for the Årjäng NV II wind farm comprising up to eight wind turbines (28 MW). The wind farm gained legal effect in July 2014.
  • Rabbalshede Kraft was granted an environmental permit for the Lyrestad wind farm comprising up to eight wind turbines (25 MW). The wind farm gained legal effect in January 2014.
  • The Board of Rabbalshede Kraft decided to start trading in the company’s share on the Alternativa equities market on the Alternativa Lista.
  • The Annual General Meeting for the 2013 fiscal year was held on April 25, 2014, in Gothenburg, Sweden.
  • The Company employed Lars Jacobsson as its new Operational and Maintenance Manager. Lars assumed his position in April 2014 and is now part of the Company’s management.

For further information, please contact:

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

Fredrik Samuelsson, Financial Manager
Tel.+ 46 (0)525-197 13, +46 (0)703 01 20 49
fredrik.samuelsson@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

Rabbalshede Kraft AB (publ) is a fast-growing player in wind power. Since being formed in 2005, Rabbalshede Kraft has been involved in the commissioning of 62 wind turbines, of which 38 wind turbines in five wind farms are proprietarily managed. The Company also has 33 turbines under construction where trial operation has been initiated, and about 300 turbines in procurement, application and planning phases. Production and sale of renewable electricity, construction of new wind farms, along with an extensive portfolio of projects comprises the basis for growth. Follow the Company's progress at www.rabbalshedekraft.se

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

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