Highlights fourth-quarter 2008

 

- Group profit affected by turbulent financial market and negative value development for shares and derivatives.

- Operating profit from operational units: NOK 541 million (NOK 193 million); non-recurring items and the effect of share and derivatives price declines contributed to total operating profit of NOK -34 million.

- After-tax profit, excluding REC investment: NOK -305 million (NOK 579 million).

- Cash flow from operations: NOK 1,039 million in 2008.

- The Hafslund Group has a strong balance sheet with an equity ratio of 40 percent and a robust financing structure.

- 2008 dividend on agenda of the Board of Directors' 26 March 2009 meeting

 

For further comments, first half-year 2008 financial statement and key figures please see the enclosed shareholders report, or contact:

 

CFO, Gunnar Gjørtz

Mob: +47 92 21 72 00

E-mail: gunnar.gjortz@hafslund.no

 

Group Executive Vice President , Communications and Corporate Responsibility (CR),

Karen Onsager

Mob: +47 92 08 70 07

E-mail: karen.onsager@hafslund.no

 

Investor Relations Officer Lars Ove Johansen

Mob: +47 99 29 14 60

E-mail: lars.ove.johansen@hafslund.no

 

 

Hafslund ASA

Oslo, 6th February 2009