EnergyWatch

Norwegian Fjordkraft has slight downturn caused by higher costs

Norwegian energy company Fjordkraft, listed on the Oslo Stock Exchange as of March, is struggling with increased expenses.

Photo: Statkraft

The Norwegian energy company Fjordkraft is seeing improved revenue, however, securing profit is proving more difficult. That is the message sent to investors, of which there are more today compared to the last time the company published a report, as Fjordkraft was listed on the Olso Stock Exchange in March.

This marks the first time Fjordkraft has published a report as a listed company. The first quarter report shows a strong increase in revenue at NOK 1.92 (EUR 200 million). That is an increase of 38 percent compared to the same quarter last year, one reason for this being that the company has raised electricity sales by 13 percent, landing at 4.3 TWh on account of the unusually cold weather.

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