HNA/HNB - Results third-quarter 2006
Highlights third-quarter 2006
- After-tax profit of NOK 1,454 million (NOK 351 million), of which NOK 1,263 million is attributable to Renewable Energy Corporation shareholding (NOK 119 million).
- Operating profit excluding REC: NOK 453 million (NOK 474 million): up 23 percent, adjusted for exceptional items.
- Profit comparison is affected by exceptional items: a 3Q 2006 charge of NOK 48 million due to a higher present value of license obligations and 3Q 2005 real estate gains of NOK 68 million.
- Cash flow from operations amounted to NOK 573 million - up 16 percent compared with 3Q 2005, despite increased working capital.
- Christian Berg appointed new President and Chief Executive Officer (CEO).
For further comments and key figures please look to the enclosed shareholders report.
Hafslund ASA
Oslo, 27 October 2006