Norwegian utility Statkraft has reported gross operating revenues of NOK3.12 million for the third quarter of 2007, a fall of 10% compared with the third quarter of 2006. Revenues fell by 11% to NOK10.98 million in the first nine months of the year.
The company reported profit after tax of NOK1.05 billion (loss of NOK290 million). In the third quarter the company posted a profit before tax of NOK1.69 billion (NOK372 million). The group posted respective pre- and post-tax profits of NOK1.25 billion (NOK1.6 billion) and NOK682 million (NOK600 million).
The company has signed a letter of intent with German company E.ON that could make Statkraft Europe’s largest producer of renewable energy.
Bard Mikkelsen, president and CEO, said: The group achieved a satisfactory result for the first nine months of the year, despite low prices. This is attributable to efficient financial trading, increased shares of income from associated companies and efficient operations.