Statkraft Lifts Q2 EBITDA to NOK 6.6 Billion as Nordic Power Prices Jump
Updated
Updated · The Manila Times · Jul 21
Statkraft Lifts Q2 EBITDA to NOK 6.6 Billion as Nordic Power Prices Jump
3 articles · Updated · The Manila Times · Jul 21
Summary
Underlying EBITDA rose to NOK 6.6 billion in Q2 from NOK 4.5 billion a year earlier, as significantly higher Nordic power prices outweighed lower hydropower output.
Profit before tax swung to NOK 2.1 billion from a NOK 5.1 billion loss, helped by lower impairments and less negative currency effects; net profit stayed negative at NOK 1.5 billion due to Norway's resource rent tax.
Hydropower generation in Norway fell by 0.8 TWh, leaving total power generation at 15.1 TWh, as a tighter hydrological situation curbed Nordic output.
Statkraft said strategic divestments are effectively complete after announcing a fast-charging merger with Eviny, while net debt fell to NOK 39.2 billion despite significant tax payments.
More than 600 MW of new renewable capacity had reached investment decision by mid-2026, and the company still targets NOK 16 billion-NOK 20 billion of annual investment across core markets.