HNA/HNB - Results first-quarter 2008
Highlights first-quarter 2008
Satisfactory Group profit from operations, despite falling power prices in the quarter.
REC share investment's value decline in quarter: NOK 9,435 million (vs. value growth of NOK 2,447 million in 1Q 2007).
After-tax profit, excl. Renewable Energy Corporation (REC): NOK 342 million, up 13 percent.
Operating profit, excluding REC: NOK 589 million - up 5 percent.
Return on equity, excluding REC: 16 percent for the 12-month period ending 31 March 2008 (16 percent for the 2007 accounting year).
Cash flow from operations: NOK 1,099 million (1Q 2007: NOK 881 million).
For further comments and key figures please look to the enclosed shareholders report.
Hafslund ASA
Oslo, 6 May 2008
