September 28, 2016 3:35 PM ET

Electric Utilities

Company Overview of Statnett SF

Company Overview

Statnett SF operates the Norwegian electric power transmission system in Norway. The company’s Norwegian power grid consists of approximately 11,000 kilometers of high-voltage power lines and cables, and 150 substations. It is also involved in the transportation and shipping, insurance, and real estate businesses; operation of data hub for electricity metering; and development and operation of national power grid. The company primarily serves households and industries. Statnett SF was founded in 1919 and is headquartered in Oslo, Norway.

Nydalen allé 33

Oslo,  0423

Norway

Founded in 1919

1,226 Employees

Phone:

47 23 90 30 00

Fax:

47 23 90 30 01

Key Executives for Statnett SF

Chief Executive Officer and President
Age: 58
Chief Financial Officer, Executive Vice President and Chief of Staff, Corporate Staff
Executive Vice President of System Operations, Asset Management & Markets Division
Executive Vice President of ICT Division
Age: 53
Executive Vice President of Constructions Division
Compensation as of Fiscal Year 2016.

Statnett SF Key Developments

Statnett SF Reports Earnings Results for the First Half Ended June 30, 2016

Statnett SF reported earnings results for the first half ended June 30, 2016. Underlying profit after tax amounted to NOK 696 million against NOK 823 million in the corresponding period of 2015. The reduction in underlying profit is mainly due to lower pension costs in the first half of 2015 as a result of a non-recurring effect caused by the transition from defined benefit to a defined contribution pension scheme, somewhat offset by higher permitted revenue in 2016, primarily as a result of an increased asset base. The recorded profit after tax for the group was NOK 463 million in the first half of 2016 against NOK 607 million a year ago. The group's operating revenues amounted to NOK 3,225 million, compared to NOK 2,874 million for the same period in 2015. The increase in operating revenues is mainly due to increased tariff revenues and higher congestion revenues.

Statnett SF Reaches Agreement for New Loan of USD 360 Million

Statnett SF has reached agreement with respect to a new US Private Placement with notes for a total amount of USD 360 million. The notes are denominated in US Dollars with 15 years to maturity. Closing is expected in September 2016.

Statnett SF Successfully Completes Placement of New Bond Issue

Statnett SF has successfully completed a NOK 700 million bond issue with maturity date on 12 May 2031. The coupon rate is 2.81%. Settlement date is expected to be 11 May 2016.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 22, 2016
BKK Nett AS, Existing and New Main Transmission Grid
 

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