Statkraft recorded a very strong EBIT in Q1

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Statkraft recorded a very strong EBIT in the quarter. Russia’s invasion of Ukraine has further impacted an extraordinary situation in the energy market, increasing the uncertainty.

The underlying EBIT was NOK 18 billion, an increase of NOK 10.7 billion compared with the first quarter last year. The increase was driven by substantially higher Nordic power prices and higher results from market activities. The solid results further strengthen Statkraft’s financial capacity and ability to deliver on the company’s growth strategy. The average Nordic system price was 109 EUR/MWh compared with 42 EUR/MWh in the same quarter in 2021. “Statkraft delivered strong results for the first quarter, driven by high Nordic power prices and a solid... ... More: Official Press Release Statkraft

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Statkraft, result, Q1, earnings, Russia, Ukraine, invasion, EBIT, quarter, uncertainty, capacity, Europe, renewable energy, ambitions