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Hafslund Q2 2011: Stable operations with solid performance

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Highlights

  • High cash flow with EBITDA of NOK 708 million excluding REC.
  • Power price of NOK 3.9 per MWh for power production activities, up 11 per cent on Q2 2010.
  • Hydropower production approximately normal for the quarter.
  • Stable earnings from grid operations for the quarter.
  • Operating result negatively impacted by investment in REC in the amount of NOK 564 million.
  • New credit facility of NOK 3.6 billion established (as liquidity reserve).

The result from ongoing operations reflects normal seasonal variations within the respective results units, and in particular in a high level of hydropower production, a stable performance from grid operations and low earnings from district heating and power sales activities. Total energy production for the quarter was 1193 GWh, an increase of 6 per cent on the previous year.

Digital page flip edition here: www.hafslund.no/english/report

Hafslund ASA

Oslo, 8 July 2011

For further information, please contact:

Senior Vice President Finance, Finn Bjørn Ruyter
Tel: +47 911 38 199, e-mail: finn.bjorn.ruyter@hafslund.no

Finance director, Morten J. Hansen
Tel: +47 908 28 577, e-mail: morten.j.hansen@hafslund.no

Senior Vice President Communications and CR, Karen Onsager
Tel: +47 920 87 007, e- mail: karen.onsager@hafslund.no

 

 

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