Statkraft’s underlying EBITDA fell to €270m in the third quarter of 2025 from €420m, driven by low power prices in northern Norway, negative hedging effects and a reduced contribution from Markets, according to the company.
Net operating revenues declined to €690m (NOK8bn) from €840m (NOK9.8bn), while profit before tax was €80m (NOK0.9bn) compared with €130m (NOK1.5bn) a year earlier.
Statkraft generated 15.8TWh in the quarter, compared with 13.3TWh, with wind output at 2.3TWh (2.5TWh) and hydropower at 12.8TWh (10TWh).
The utility signed agreements to divest assets for €1.16bn (NOK13.5bn) in the period, including district heating, transmission lines in Peru, and renewables activities in Canada, Croatia, India, Nepal and the Netherlands, which will see around 330 employees transfer to new owners by end-2025.
President and chief executive Birgitte Ringstad Vartdal (pictured) said: “I am pleased with the solid progress we have made in executing our sharpened strategy in the third quarter.”
She added: “We have sold a portfolio of businesses, our skilled teams will have new owners, and the divestments contribute to reduce complexity and cost and free up capital for further profitable growth in prioritised technologies and markets going forward.”
Vartdal said the company delivered “solid underlying results in Nordics, even though most of the increased power generation was in Northern Norway (NO4) where prices were very low”.
She added: “Results were impacted by negative hedging effects due to rising forward prices and lower contribution from Markets.”
Statkraft made investment decisions for hydropower upgrades in Norway and a 20MW battery project in Chile during the quarter, and after the period confirmed plans to build the 182MWp Lupi solar farm in Peru with an expected investment of NOK1.5bn.