Eimund Nygaard. Photo.
– Increased production could still not compensate for the fall in the market price of power, says CEO Eimund Nygaard.

2015 result: 708 million

Lyse had a net profit of 708 million in 2015. Also last year was characterised by low power prices, and high production did not compensate for the drop in market prices for power. The telecom business area continues to grow, and has strengthened its market position also through last year.

Numbers in million kroner 2015 2014 2013
Operating income 5 888 6 102 6 504
EBITDA 2 548 4 142 2 731
Operating result 1 656 3 344 1 878
Result before taxes 1 270 2 925 1 300
Net profit    708 2 204    506

– Also 2015 was characterised by low power prices, which puts the results of our energy business area under pressure. We produced 6,5 TWh of hydropower last year, which is significantly above the normal production of 5,7 TWh. Increased production could still not compensate for the fall in the market price of power, says CEO Eimund Nygaard.

Tele operations were strengthened in 2015, both through organic customer growth and acquisitions. At the end of the year the division had 407,000 active broadband customers, and a profit before tax of NOK 362 million - an increase of 52 million compared with the previous year.

See more numbers from 2015 under Financial information.

Lyse’s net profit in 2015 was significantly lower than for 2014. Nygaard reminds us that net income for 2014 was unusually high. – This was primarily for two reasons. We sold 51 percent of the downstream portion of the LNG business in Skangas to Finnish Gasum, and besides we listed conducted unrealised foreign exchange gains on long-term power contracts.

On Thursday 17 March it was also announced that Lyse sells the LNG plant in Risavika to Skangas. Lyse will continue to maintain its stake of 49 percent in Skangas. Finnish Gasum owns the remaining 51 percent.

Dividend
The Board proposes a dividend of NOK 420 million to the 16 owner municipalities.

In 2015 the municipalities also received NOK 100 million in installments and 77 million in interest on subordinated loans.

The group pays in total 597 million kroner to the owning municipalities based on the fiscal year of 2015.

The proposed dividend of 420 million distributed as follows:

 

Stavanger kommune

 

183 439 200

Sandnes kommune

82 030 200

Sola kommune

36 712 200

Time kommune

24 494 400

Klepp kommune

17 761 800

Hå kommune

15 897 000

Randaberg kommune

13 771 800

Eigersund kommune

12 394 200

Strand kommune

10 634 400

Rennesøy kommune

4 830 000

Hjelmeland kommune

4 174 800

Gjesdal kommune

3 918 600

Finnøy kommune

3 817 800

Lund kommune

2 994 600

Bjerkreim kommune

2 150 400

Kvitsøy kommune

978 600

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