Q3 2019 highlights:
• Net revenue growth across all segments – driven by both margin improvements and volume growth
• Strong development with an accelerating growth in number of mobile subscribers (+51% YoY). Highest quarterly growth since the launch in Q2 2017
• Fjordkraft on top in EPSI’s customer satisfaction survey for mobile subscribers in the consumer market in 2019
o Also awarded for best call centre across all industries in September
• Successful acquisition of Vesterålskraft Strøm AS. Transaction completed 1 July 2019
Continued growth in net revenue and EBIT
The third quarter of 2019 has been another quarter with growth in both net revenue and EBIT. Adjusted net revenue is increasing 14% YoY, while adjusted EBIT is increasing 8% YoY. Both volume growth and margin improvements have a positive impact on this quarter’s result. The mobile segment is showing a strong growth, with the highest quarterly growth since the launch in Q2 2017, and Fjordkraft’s mobile subscribers are also on top when it comes to customer satisfaction in the consumer market. It has been a good quarter.
Temperatures in the quarter have been warmer than normal in three out of three months. However, two out of three months have been colder than in Q3 2018, which is part of the reason for the volume growth YoY. The growth of ~22k deliveries YoY in the Consumer and Business segments is also contributing positively to the volume growth.
Building upon the “Klimanjaro” initiative that was awarded the United Nations’ Climate Action Award, Fjordkraft is now launching “Klimahub”. This is a nation-wide database with information about a firm’s climate actions and focus. It includes an easy-to-use solution for businesses to calculate and register their CO2 emissions and climate actions, and Fjordkraft offers counselling and CO2 quotas to help businesses become climate neutral. Companies should use their purchasing power to ensure climate neutrality, and we hope “Klimahub” can make this easier.
Please find attached the quarterly report and quarterly presentation. The results will be presented at Felix Konferansesenter at 08:00 on November 14.
For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526