April 25, 2018 7:00 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of E-CO Energi Holding AS

Company Overview

E-CO Energi Holding AS, through its subsidiary, E-CO Energi AS, develops, owns, operates, and manages hydroelectric plants in Norway. The company also sells its power on the wholesale market. It serves approximately 500,000 households. In addition, the company is involved in business development activities in energy and related fields. E-CO Energi Holding AS is headquartered in Oslo, Norway.

C. J. Hambros plass 2 C

Oslo,  0103

Norway

165 Employees

Phone:

47 24 11 69 00

Fax:

47 24 11 65 01

Key Executives for E-CO Energi Holding AS

Chief Executive Officer, President and Managing Director
Age: 55
Chief Financial Officer
Age: 52
Chief Executive Officer of Oslo Municipality
Senior Vice President and Special Adviser
Age: 66
Vice President of Human Resources & Communications
Compensation as of Fiscal Year 2017.

E-CO Energi Holding AS Key Developments

E-Co Energi Holding AS Reports Earnings Results for the Year Ended December 31, 2017

E-CO Energi Holding AS reported earnings results for the year ended December 31, 2017. For the year, the company reported sales revenues of NOK 3,500 million against NOK 2,633 million a year ago. Operating Revenue was NOK 3,592 million against NOK 2,710 million a year ago. Operating profit was NOK 2,235 million against NOK 1,439 million a year ago. Profit before tax was NOK 1,987 million against NOK 1,248 million a year ago. Net profit for the year attributable to equity holders of the parent was NOK 923 million against NOK 439 million a year ago. Cash flow from operating activities, net was NOK 1,587 million against NOK 1,322 million a year ago. Investments in property, plant and equipment was NOK 523 million against NOK 410 million a year ago.

E-CO Energi Holding AS Appoints Morten J. Hansen as Acting Chief Financial Officer

E-CO Energi Holding AS appointed Morten J. Hansen as acting Chief Financial Officer, effective January 3, 2018. Morten J. Hansen comes from a position as Finance Director for E-CO Energi AS, a position he has held since E-CO Energi's acquisition of Hafslund's power production in 2017. Hansen has experience as Finance Director and Director of Compliance, Internal Control and Tax at Hafslund ASA, and he has been Finance Director at Hafslund Production.

E-CO Energi Holding AS Announces Unaudited Consolidated Earnings and Production Results for the First Half Ended on June 30, 2017

E-CO Energi Holding AS announced unaudited consolidated earnings and production results for the first half ended on June 30, 2017. For the period, operating revenue was NOK 1,369 million compared to NOK 1,310 million a year ago. The increase is ascribable to higher actual selling prices, while lower production has pulled in the opposite direction. Operating income was NOK 837 million compared to NOK 753 million a year ago. Earnings before tax was NOK 740 million compared to NOK 638 million a year ago. Profit after taxes and net profit was NOK 332 million compared to NOK 293 million a year ago. Earnings per share were NOK 195 compared to NOK 172 a year ago. Cash flow from operating activities was NOK 218 million compared to cash used in operating activities of NOK 49 million a year ago. Investments in tangible fixed assets NOK 147 million compared to NOK 120 million a year ago. The group's power production aggregated 5,070 GWh in first half of 2017. The group produced 5,531 GWh of power during the corresponding months of 2016.

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Recent Private Companies Transactions

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Date
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No transactions available in the past 12 months.
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