Fred Olsen Renewables revenue stood at Nkr828m (€87m) in the first nine months of 2017, an increase of 23% on the Nkr673 earned in the same period last year.
Earnings before interest, taxes, depreciation and amortisation were also up in the period at Nkr549m, from Nkr406m in 2016.
The company reported installed capacity of 595.9MW at the end of September, a slight year-on-year increase on the 582.1MW figure from last year.
Shipping and offshore wind results also showed strong progress. Revenue stood at over Nkr1.16bn in the first three quarters of 2017, up from Nkr811m last year.
EBITDA in the segment soared to Nkr338m from Nkr20m in 2016, as a result of higher utilisation of the company’s jack-up vessels, improved performance from its Global Wind Service business and a one-off legal cost last year.
Overall, the company, which trades under the name Bonheur, reported revenue of over Nkr6.5bn, down from more than Nkr9.7bn in the third quarter of 2016.
EBITDA was also down at just over Nkr4bn, compared with more than Nkr5bn last year.
Image: Fred Olsen Renewables
