Fjordkraft included in the OSEBX index

Fjordkraft is included in the OSEBX index as of 3 June. 


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The Stock
+ 2.08
+ 0.95 NOK
7/19/2019 3:56:24 PM
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Half-yearly Report
Quarterly Report - Q3
Press Releases
Stock Exchange Announcements
Fjordkraft Holding ASA: Q2 2019 customer growth
In the second quarter of 2019, the number of electricity deliveries increased by 1,471 in the Consumer segment and decreased by 560 in the Business segment, all of which organic. The number of electricity deliveries in the Consumer and Business segments at the end of Q2 2019 was 607,563. At the end of the second quarter 2019, Extended Alliance comprised 34,391 electricity deliveries, an increase of 569 electricity deliveries from last quarter. In total, the Group had 641,954 electricity deliveries at the end of the second quarter 2019. This is an increase of 20,476 electricity deliveries compared to the end of the second quarter 2018. "We are still seeing some effects from the implementation of Elhub and given this we are happy with our growth. The Consumer segment is showing a positive trend, and fluctuations in the Business segment is normal as tender customers joins or leaves us" says Rolf Barmen, CEO of Fjordkraft. The number of mobile subscriptions grew by 9,446 in the second quarter of 2019, reaching a total of 81,094 subscriptions at the end of the period. "This quarter's growth has been very strong. We have grown to more than 80,000 mobile subscribers, further strengthening our position as the largest mobile supplier without its own network" says Barmen. For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526
Fjordkraft Holding ASA: Signed agreement to acquire Vesterålskraft Strøm AS
Fjordkraft (OSE ticker "FKRAFT") has entered into a share purchase agreement with Vesterålskraft AS to purchase 100% of the shares of Vesterålskraft Strøm AS. Vesterålskraft Strøm AS has about 8,600 electricity deliveries and estimated underlying net revenue and EBIT for 2018 was 10 NOKm and 3 NOKm, respectively. The agreed purchase price is 26.5 NOKm, which represents an enterprise value of 27.3 NOKm, subject to certain price adjustment mechanisms as agreed between the parties. The transaction is expected to be completed on 1 July 2019 and supports Fjordkraft's strategy as acting as a consolidator in the electricity market. The purchase price will be allocated between the customer portfolio and the regional office and sales organisation, and will be disclosed in the second quarter 2019 presentation. The acquisition is financed through available cash. The Seller has agreed with Fjordkraft that it will use the purchase price from the transaction to purchase 621,341 shares in Fjordkraft Holding ASA. The number of shares is based on the agreed purchase price in the transaction divided by the volume-weighted average price for the shares in Fjordkraft Holding ASA during the period of 12 June 2019 until 26 June 2019, i.e. NOK 42.6092. ABG Sundal Collier will be assisting the Seller with such share purchase following completion of the transaction. - Vesterålskraft Strøm AS has been one of our Alliance partners for the last ten years, and we are very happy to benefit from our long-term relationship through this acquisition. On top of their customer portfolio, we acquire a regional office and sales organisation in the northern part of Norway, enabling us to grow our market share in an unchartered territory for us, CEO Rolf Barmen explains. - Through their industrial ownership in Fjordkraft, Vesterålskraft is able to take part in the value creation of a larger and more profitable company, while staying exposed to the retail part of the value chain, Barmen adds. PwC has acted as financial advisor and Advokatfirmaet Schjødt AS has acted as legal advisor to Fjordkraft. For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526
FKRAFT - Disclosure of shareholding and mandatory notification of trade
BKK AS ("BKK") has today sold 15,674,432 shares in Fjordkraft Holding ASA (the "Company" or "Fjordkraft"), representing 15.00 per cent of the share capital in the Company, at a price of NOK 42.50 per share. The shares were sold through an accelerated bookbuilding process managed by ABG Sundal Collier ASA. After the transaction, BKK owns 15,933,066 shares, representing 15.25 per cent of the share capital in the Company. BKK is represented on the Board of Directors in Fjordkraft. BKK has entered into a customary 90 days lock-up for its remaining shares in the Company. Contact: BKK AS Anne Marit Steen, CFO +47 90 91 95 79
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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 1.3 million people through ca. 600,000 delivery points in households, businesses and public entities across Norway.

Fjordkraft Mobil

Fjordkraft Mobil
Fjordkraft Online Shopping
Increased market share

Fjordkraft Mobil was launched on 25 April. 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.

Fjordkraft Netthandel was launched. 150 online stores give Fjordkraft’s electricity customers discounts. Because Fjordkraft has a large number of customers, we are an attractive partner for vendors and brands who would like to give our customers discounts.

19% of electricity customers state that they are customers of Fjordkraft. This is the first time such a high market share has been reported for one electricity supplier in Norway (TNS Kantar Q3 2017).