Sweden's Rabbalshede Kraft 9-mo net loss deepens

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

November 24 (Renewables Now) - Swedish wind power company Rabbalshede Kraft AB booked a consolidated net loss of SEK 96 million (USD10.7m/EUR 9.5m) for the first three quarters of 2021, against a deficit of SEK 45.4 million a year earlier.

For the third quarter of 2021 alone, the company said its results exceeded expectations even as electricity production fell short of the planned level.

Rabbalshede Kraft produced 171 GWh in electricity in the quarter to September, including 126 GWh from owned capacity and 45 GWh from co-owned capacity.

Production at some wind farms had to be halted to repair the blades, the company said.

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

Amounts in SEK thousand unless otherwise noted Q3 2021 Q3 2020 Q1-Q3 2021 Q1-Q3 2020
Net sales (electricity+certificate sales) 52,380 35,474 132,256 147,577
Total operating revenue 56,082 39,901 151,192 165,927
Total operating costs (34,687) (29,718) (104,652) (99,608)
EBIT (loss) (13,386) (20,825) (67,267) (24,115)
Profit (loss) (20,413) (29,105) (95,988) (45,360)
Electricity production excluding co-owned wind farms (in MWh) 126,760 119,474 427,018 455,306

(SEK 1 = USD 0.111/EUR 0.099)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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