Statkraft returns to profits after rise in energy prices

Norway's largest utility is now profitable again after years of losses.

Photo: Statkraft

State-owned Norwegian utility Statkraft can now look back on a 2017 with a bottom line profit after years of turbulence, shows the company's annual report, just released this Thursday.

The group landed a result of NOK 11.7 billion (EUR 1.2 billion) last year, relative to a loss of NOK 179 million in 2016. The top line rose 19 percent to NOK 62 billion. Looking at the operating results, the firm realized an adjusted EBITDA of NOK 14 billion relative to NOK 12 billion the previous year.

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