While Statkraft's cash cow – namely energy production from hydropower in Norway and Sweden – clearly improved performance in line with rising electricity prices in the Nordics during Q1 2017, the company's divisions farther from home are suffering more severe setbacks.
Statkraft's international energy production, which mainly covers hydropower in South America, Eastern Europe, and Turkey, took a dive in net earnings of more than 25 percent in the first quarter. The division only made NOK 187 million (EUR 19.8 million), compared to earnings in the same quarter last year of NOK 255 million.
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