Highlights third-quarter 2008

 

- Operating profit, excluding REC: NOK 242 million - up 16 percent.

- Renewable Energy Corporation (REC) share investment's value decline in quarter: NOK 1,866 million (vs. value growth of NOK 1,302 million in 3Q 2007).

- Gain on the sale of the Group's residential alarm business: NOK 169 million.

- After-tax profit, excl. REC: NOK 116 million, up NOK 72 million.

- Return on equity, excluding REC: 26 percent for the 12-month period ending 30 September 2008 (16 percent for the 2007 accounting year).

- Hafslund Infratek: final agreement to acquire Fortum Service's Nordic countries infrastructure business is pending regulatory and shareholder approvals.

 

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

 

Hafslund ASA

Oslo, 28 October 2008