Quarterly presentation Q3 2020

 

 

Link to webcast Q3 2020

The Stock
82.40
- 2.49
- 2.10 NOK
Updated
12/2/2020 4:30:00 PM
Financial calendar

A sunshine story

According to the UN, energy is the largest contributor to climate change, through the emission of CO2 and other greenhouse gases. At Fjordkraft we therefore believe it is important to give customers the opportunity to produce their very own clean energy.

See a sunshine story
Reports
Press Releases
Stock Exchange Announcements
13.11.2020
Fjordkraft Holding ASA: Mandatory notification of trade
On 13 November, Roger Finnanger (EVP Head of Business) has purchased 401 shares in Fjordkraft Holding ASA at an average price of NOK 85.00. After this transaction, Roger Finnanger holds a total of 884 shares in Fjordkraft. The shares were purchased in connection with Fjordkraft's bonus programme. For further information, contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526
12.11.2020
Fjordkraft Holding ASA: Mandatory notification of trade
On 12 November, the following primary insiders purchased shares in Fjordkraft Holding ASA: Arnstein Flaskerud (EVP Head of Strategy and M&A) has purchased 3000 shares in Fjordkraft Holding ASA at an average price of NOK 77.60. After this transaction, Arnstein Flaskerud holds a total of 25,260 shares in Fjordkraft. Christian Kalvenes (EVP Head of Consumer) has purchased 448 shares in Fjordkraft Holding ASA at an average price of NOK 77.80. After this transaction, Christian Kalvenes holds a total of 931 shares in Fjordkraft. Therese Sandnes (Acting Chief Accountant Officer) has purchased 379 shares in Fjordkraft Holding ASA at an average price of NOK 78.50. After this transaction, Therese Sandnes holds a total of 733 shares in Fjordkraft. For further information, contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526
12.11.2020
Fjordkraft Holding ASA: Q3 2020 results
Q3 Highlights: -Strong financial performance with a 10% YoY increase in net revenue and 25% YoY growth in EBIT adj. -Solid growth, both organically and from M&A, as the deliveries from the Innlandskraft acquisition are included as of 30 September -Kantar's Q3 survey shows that Norwegian consumers are satisfied with their electricity retailer. Fjordkraft is no.1 in Top of Mind and Brand Awareness -Fjordkraft is in line with the industry average on customer satisfaction, well above peers like Fortum, NorgesEnergi and Hafslund -Fjordkraft acquired SNG, a Nordic retailer, in October. The transaction was completed 10 November 2020 Strong growth - both financially and in number of customers Growth in number of customers has been a key pillar in Fjordkraft's strategy. In a fragmented industry with a high level of competition, the organic growth is a good metric for the retailer's attractivity in the market. It is therefore pleasing to announce that Fjordkraft had an organic growth in Q3 of almost six thousand electricity deliveries in the Consumer and Business segments combined, and through the inclusion of the deliveries from the Innlandskraft acquisition, the total growth in the quarter was more than 240 thousand deliveries. In addition to this, Fjordkraft acquired Switch Nordic Green, a Nordic retailer with operations in both Sweden and Finland, in October. This positions Fjordkraft for further growth in the Nordics, as the markets become more and more similar, and competition becomes increasingly pan-Nordic. The third quarter has also been a strong one financially. Net revenue increased 10% YoY and EBIT adjusted increased 25% YoY. Volume sold increased 4% YoY and was driven by growth in number of deliveries as well as increased average consumption per delivery in the Consumer segment. Elspot prices have been volatile in the quarter. In July, prices continued at a historically low level, but then increased through August and reached a spike in early September, before they fell again. The temperature was colder than last year in two out of three months in the quarter. Please find attached the quarterly report and quarterly presentation. The results will be audiocasted on 12 Nov 2020 at 08:00 on the following link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20201112_10 For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526
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Fjordkraft at a glance

Known brand
Fjordkraft is the number one brand for electricity retailing in the Norwegian consumer market and the number two brand in the business market.

All across Norway
The Company supplies electricity to an estimated more than 1.8 million people through more than 900,000 delivery points in households, businesses and public entities across Norway.

Fighting climate change
Fjordkraft believes that companies have responsibilities beyond maximising profits for the shareholders. Fjordkraft has addressed this responsibility in its climate Initiative "Klimanjaro", where we require our suppliers to be climate neutral. Fjordkraft is convinced that climate neutrality is a competitive advantage.

Fjordkraft Mobil

Fjordkraft Mobil

Fjordkraft Mobil was launched in the spring of 2017. We already had a well-known brand, a skilled customer service centre and expertise from the electricity market. For Fjordkraft, the path from being an electricity retailer to also becoming a mobile phone operator was short. Fjordkraft’s electricity customers get more value for money with cheap mobile phone subscriptions. At the end of 2019, Fjordkraft had more than 100,000 mobile subscribers.