Q2 Highlights:
• 24% YoY increase in net revenue and 14% YoY increase in EBIT adj.
• # of deliveries in the Consumer, Business and Nordic segments decreased by 1,959 in the quarter
• This is an improvement of 15,292 vs. the development in Q1 2021
• In Q3 2021: Acquisition of SkyMobil’s customer portfolio of ~38k subscribers
Growth in net revenue and EBIT adj.
In the second quarter of 2021, the average daily system price was 647% higher than in the second quarter of 2020. While 2020 as a whole, including the second quarter, was a year with exceptionally low electricity prices due to the hydrologic balance, Q2 2021 has been affected by an increase in the price of CO2 quotas, coal and gas, in addition to low amounts of generation from wind power. Thus, Q2 2020 represented a very favourable market situation, while the market dynamics in Q2 2021 have been more neutral.
Net revenue increase 24% YoY and EBIT adj. increase 14% YoY, mainly driven by M&A. The number of electricity deliveries decreased by 1,959 in the quarter, which is a significant improvement from last quarter’s development. On 25th of August, Fjordkraft announced the acquisition of SkyMobil’s customer portfolio of about 38 thousand subscribers. In addition to the announced platform change within Mobile, this acquisition will contribute positively to the New Growth Initiatives segment.
Please find attached the quarterly report and quarterly presentation.
The presentation will be webcasted live on 26 August 2021 at 08.00 CEST at: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210826_1
For further information, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526