Statkraft Q4 Core Profit Rises 17% to 8.3 Billion Crowns
Statkraft reported an 8.3 billion crown core profit for the fourth quarter. Higher power prices and record generation drove the 17 percent year-on-year rise.
The state-owned utility Statkraft, the largest power producer in Norway, reported a 17% increase in its underlying core profit for the fourth quarter. The company attributed this growth to higher electricity prices and record-breaking power generation. Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) for the period between October and December reached 8.3 billion Norwegian crowns ($859.64 million), up from 7.1 billion crowns in the previous year. Through the divestment of several non-core business units, the utility has reduced its net debt by 12 billion crowns, a move intended to improve financial flexibility and market competitiveness. > We have now largely completed our planned divestments of non-core assets and are on track with our cost reductions, CEO Birgitte Ringstad Vartdal said in a statement. Total power generation rose to 19.4 terawatt hours (TWh) from 19.3 TWh in the fourth quarter of 2024. The company remains focused on maintaining its cost-reduction trajectory following the completion of its divestment strategy.
