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July 06, 2015 11:39 PM ET

Electric Utilities

Company Overview of Statnett SF

Company Overview

Statnett SF, a transmission system operator, operates the Norwegian electric power system in Norway. The company’s Norwegian power grid consists of approximately 11 000 kilometers of high-voltage power lines and 150 stations. It is involved in the transmission and distribution of hydroelectric power, as well as owns and operates national power grid. The company primarily serves households. It also operates a heavy transport business on land and sea. The company was founded in 1919 and is headquartered in Oslo, Norway.

Nydalen allé 33

Oslo,  0423

Norway

Founded in 1919

1,119 Employees

Phone:

47 23 90 30 00

Fax:

47 23 90 30 01

Key Executives for Statnett SF

Chief Executive Officer and President
Age: 57
Chief Financial Officer, Chief of Staff and Executive Vice President
Executive Vice President of System Operations, Asset Management and Markets
Executive Vice President of Information & Telecommunication Technologies (ICT)
Age: 52
Executive Vice President of Constructions
Compensation as of Fiscal Year 2015.

Statnett SF Key Developments

Consortium including Credit Suisse Energy Infrastructure Seeks TO Acquire Stake In Statkraft

A consortium led by Credit Suisse Energy Infrastructure Partners AG is seeking to acquire 44.9%-39.9% stake in Statkraft SF, according to Statnett SF. Statnett is expected to have 50.1% stake in Statkraft and Troender Energi As aims at acquiring 5-10% stake in Statkraft.

Statnett SF Reports Earnings Results for the First Quarter of 2015

Statnett SF reported earnings results for the first quarter of 2015. underlying profit after tax amounted to NOK 289 million in the first quarter of 2015 against NOK 354 million in the first quarter of 2014. The reduction was due to reduced growth in permitted revenue as a result of a lower interest rate level, combined with somewhat higher costs due to a higher activity level.   The group's operating revenues in the first quarter of 2015 totalled NOK 1,509 million, compared to NOK 1,324 million for the same period in 2014. The increase was mainly due to higher fixed tariff revenues as a consequence of increased tariff rates for consumption.

Statnett SF Reports Consolidated and Standalone Earnings Results for the Year Ended December 31, 2014

Statnett SF reported consolidated and standalone earnings results for the year ended December 31, 2014. For the year, the company reported consolidated operating revenue of NOK 5,563 million compared to NOK 4,561 million a year ago. Operating profit was NOK 1,378 million compared to NOK 346 million a year ago. Profit before tax was NOK 1,120 million compared to NOK 89 million a year ago. Profit for the year was NOK 829 million compared to NOK 82 million a year ago. Net cash flow from operating activities was NOK 3,028 million compared to NOK 1,224 million a year ago. Purchase of tangible fixed assets, other intangible fixed assets and plants under construction was NOK 5,809 million compared to NOK 5,546 million a year ago. Return on capital employed before tax, adjusted for higher/lower revenue was 6.9% compared to 5.7% a year ago. Return on equity after tax was 6.7% compared to 0.8% a year ago. For the year, the company reported standalone operating revenue of NOK 5,625 million compared to NOK 4,570 million a year ago. Operating profit was NOK 1,381 million compared to NOK 319 million a year ago. Profit before tax was NOK 1,097 million compared to NOK 14 million a year ago. Profit for the year was NOK 810 million compared to NOK 12 million a year ago. Net cash flow from operating activities was NOK 2,951 million compared to NOK 1,128 million a year ago. Purchase of tangible fixed assets, other intangible fixed assets and plants under construction was NOK 5,770 million compared to NOK 5,515 million a year ago.

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