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Year-end report, 2014 Rabbalshede Kraft AB (publ)

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Significant events during the fourth quarter, October 1, 2014 – December 31, 2014

  • Production for the fourth quarter totaled 158,110 MWh (86,898 MWh)
  • Net sales totaled KSEK 68,047 (47,452)
  • EBITDA amounted to KSEK 34,154 (44,239)
  • EBIT was KSEK 19,152 (33,520)
  • The average sales price for wind power production amounted to SEK 478/MWh (548), of which electricity was SEK 303/MWh (345), electricity certificates and guarantees of origin were SEK 175/MWh (204).
  • The Årjäng NV, Årjäng SV and Skaveröd/Gurseröd wind farms totaling 101 MW and a production capacity of 289 GWh entered commercial operation from December 2014.

2014 fiscal year

  • Production from the Group’s wind farms during January-December amounted to 314,665 MWh (189,431).  
  • Net sales totaled KSEK 146,161 (104,694).
  • EBITDA amounted to KSEK 81,270 (77,821).
  • EBIT was KSEK 14,325 (38,027).
  • The average sales price for wind power production amounted to SEK 497/MWh (560), of which electricity was SEK 315/MWh (351), electricity certificates and guarantees of origin were SEK 182/MWh (211).
  • Depreciation/amortization totaled KSEK 66,945 (39,794). Impairment losses on projects totaled KSEK 12,317. Impairment losses were incurred on the Årjäng NO and Ljungskile Hoven projects that had not received permits, and by other projects that were discontinued or pending due to unfavorable conditions.
  • The Company posted a loss after tax of KSEK 25,083 (profit: 117).
  • All 33 wind turbines in the Skaveröd/Gurseröd, Årjäng NV and Årjäng SV wind farms are in production. The wind farms were put into commercial operation from December 2014. The wind farms are expected to produce 289,400 MWh/year, which will increase Rabbalshede Kraft’s production capacity by 130 percent.
  • Rabbalshede Kraft was granted an environmental permit for the Årjäng NV II wind farm comprising up to eight wind turbines (28 MW). The wind farm gained legal effect in July 2014.
  • Rabbalshede Kraft was granted an environmental permit for the Lyrestad wind farm comprising up to eight wind turbines (25 MW). The wind farm gained legal effect in January 2014.
  • The Board of Rabbalshede Kraft decided to start trading in the Company’s share on the Alternativa equities market on the Alternativa Lista.
  • The Annual General Meeting for the 2013 fiscal year was held on April 25, 2014, in Gothenburg, Sweden.
  • The Company employed Lars Jacobsson as its new Operational and Maintenance Manager. Lars assumed his position in April 2014 and is now part of the Company’s management.

For further information, please contact:

Thomas Linnard, CEO      
Tel. +46 (0)525 - 197 11, +46 (0)706 100 120               
thomas.linnard@rabbalshedekraft.se

Fredrik Samuelsson, Financial Manager
Tel. +46 (0)525-197 13, +46 (0)703 01 20 49
fredrik.samuelsson@rabbalshedekraft.se

Rabbalshede Kraft AB (publ)
Marknadsvägen 1
SE-457 55 Rabbalshede, Sweden

Telephone +46 (0)525-197 00
E-mail info@rabbalshedekraft.se
www.rabbalshedekraft.se
Corp. Reg. No. 556681-4652

Rabbalshede Kraft AB (publ) plans and establishes proprietary land-based wind farms, in collaboration with other players or for divestment whereby the Company is able to offer operating services. Since its inception in 2005, Rabbalshede Kraft has commissioned 95 wind turbines, of which 71 turbines in eight wind farms are proprietarily managed. The electricity produced from the Company’s wind farms in operation is sold in the open electricity market, Nord Pool. An extensive project portfolio comprises the basis for growth. The Company has about 250 turbines under procurement, application and planning phases. Follow the Company's progress at www.rabbalshedekraft.se

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