The net YTD profit after tax was MNOK 256, down MNOK 113 year-on-year. The decline is due to lower contributions from price hedging. Higher power prices towards the end of the quarter and after end-quarter herald better prospects for the net profit for 2016.
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P. O. Box 255 Sentrum
C. J. Hambros plass 2 C, Oslo
Tel: + 47 24 11 69 00
Fax: + 47 24 11 69 01
Norway's second largest producer of hydroelectricity
E-CO Energi is one of Norway's leading energy groups. Its core activities are the ownership and management of hydropower plants and development of new renewable power projects. The City of Oslo owns 100 % of the parent company, E-CO Energi Holding AS.
E-CO Energi is Norway's second largest producer of hydroelectricity with a mean annual production of 9.7 TWh and a production capacity of approx. 2 800 MW. READ MORE
Press release 04/16
The profit after tax came to MNOK 293, down MNOK 57 from H1 2015. The decline from last year is ascribable to lower actual selling prices. Higher power production partially offset the decline in selling prices.
On 7th July 2016, E-CO Energi Holding AS ("E-CO Energi" or the "Company") entered into a NOK 1,500,000,000 multi-currency revolving credit facility (the "Facility"). The Facility has a tenor of 5 years including two one-year extension options.