Sweden's Rabbalshede Kraft cuts net loss in H1 2019

The Bratton wind park in Sweden. Source: Rabbalshede Kraft (www.rabbalshedekraft.se).

August 22 (Renewables Now) - Swedish wind power company Rabbalshede Kraft AB today reported it has reduced its net loss for the first six months of the year to SEK 8.1 million (USD 838,000/EUR 755,000) from SEK 23.5 million a year back, as net sales rose 15.5% on the year.

CEO Peter Wesslau commented that the January-June period for the company this year brought high production volumes and electricity prices at a reasonable level until June, since when the electricity certificate price has been falling.

The table below shows more details about the company’s financial performance throughout the six-month period.

Figures in SEK Q2 2019 Q2 2018 H1 2019 H1 2018
Net sales 49.7m 50.9m 128.5m 111.2m
Operating profit (loss) (6.7m) (2m) 10.7m (2.3m)
Net profit (loss) (13.7m) (12.8m) (8.1m) (23.5m)

During the second quarter, production at own wind farms amounted to 151 GWh, of which 106 GWh was own and 45 GWh was co-owned. The period ended with high production because of strong winds and high availability.

(SEK 10 = USD 1.040/EUR 0.937)

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