Deeper net loss for Sweden's Rabbalshede Kraft in H1 2021

Rabbalshede Kraft's Hud wind farm in Sweden. Credit: Rabbalshede Kraft AB.

Swedish wind power company Rabbalshede Kraft AB recorded a net loss of SEK 75.6 million (USD 8.68m/EUR 7.39m) for the first half of 2021, expanding it significantly from SEK-16.3-million loss in the same period a year earlier.

The company said the first semester was marked by underwhelming sales as wind levels were not as favourable as they were in 2020.

Wind production started out strong early into the second quarter, but slowed down in May and June with light winds, planned grid interruptions and thunderstorms.

Rabbalshede Kraft produced 300.3 GWh of electricity from own wind farms in January through June, a decrease from 335.8 GWh generated a year back.

Other financial and operating details are presented in the table below:

Amounts in SEK thousand unless otherwise noted	Q2 2021	Q2 2020	H1 2021	H1 2020
Net sales (electricity+certificate sales)	40,405	32,815	84,876	112,114
Total operating revenue	45,174	40,404	95,110	126,026
Total operating costs	(73,785)	(62,769)	(148,991)	(129,316)
EBIT (loss)	(28,611)	(22,365)	(53,881)	(3,290)
Profit (loss)	(39,620)	(30,006)	(75,575)	(16,255)
Electricity production excluding co-owned wind farms (in MWh):	133,383	117,501	300,258	335,832