Eimund Nygaard. Foto.
CEO Eimund Nygaard is pleased with the half year result for 2016.

Half-year result 2016: 630 million

The Lyse Group had an operating profit the first half year of 1290 million, an increase of 420 million compared with last year. The half year result is characterised by high power production, stable growth within telecommunications and power grid operations with few interruptions. Revenue of 51 per cent of the gain on the sale of the LNG plant in Risavika contributes 219 million in operating profit.

– The result is improved both by the gain from the sale of the LNG plant and the good underlying development in our core business areas of energy, telecommunications and infrastructure / electricity grid, says CEO Eimund Nygaard.

Underlying operating profit was 1,135 million, an increase of NOK 222 million compared with the corresponding period last year.

Hydropower production operating profit is 129 million better than the first half of 2015. Unusually high reservoir levels at the beginning of the year contributed to a production the first half of 4.5 TWh, an increase of 0.9 TWh compared with the corresponding period last year. Actual achieved average price of power generation is at 22.85 øre / kWh, which is marginally lower than in the corresponding period last year.

The telecommunications business area continues to grow. Operating result in the first half was 294 million and EBITDA was 430 million. Corresponding figures for the same period last year was 213 million in operating income and EBITDA of 326 million. The number of customers in the Altibox partnership increases and it is at the end of the first half of 2016 a total of 422,325 customers.

The grid business area contributes with stable operations and few interruptions during the period. Operating profit from operations was 158 million first half, to 85 million in the same period last year.

Follow us:Follow us on Instagram Follow us on Facebook Follow us on Twitter Follow us on LinkedIn 

Privacy Copyright © Lyse AS