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Statkraft reduces deficit in spite of massive impairments

Norwegian energy major Statkraft still has red numbers on the bottom line and plans to implement redundancies over the next two years. Large-scale impairments take their toll, but the company gets some help from exchange rate fluctuations.

BY

Norway's state-owned utility Statkraft has been working full-fledged on its restoration plan throughout 2016, and at the end of the year a modest loss of NOK 179 million (EUR 20 million) was achieved against a massive deficit of NOK 2.3 billion in 2015.

The improved bottom line is presented alongside reduced sales figures which have declined by NOK 2 billion. In spite of this, the company booked a net result from operations (EBITDA) of NOK 13.8 billion total in 2016 and this is NOK 3 billion better than in 2015.

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