Hafslund with solid result in the first three quarters of 2025
Hafslund delivers a solid result after the third quarter of 2025, despitelowerpower production and a challenging market.
The profit after tax in the first three quarters of 2025 ended at NOK 2,829million. This is an increase of NOK 178 million compared to the same periodlastyear. The operating profit was NOK 7,110 million, compared to NOK 6,328millionin the corresponding period in 2024. The achieved power price was 68 øre perkWh, 12 øre higher than last year, and 15 percent above the spot prices in thecompany's production areas.
- We are pleased to deliver a solid result in a quarter characterized by bothweather-related and market-related challenges. Good production optimizationandoperations in both the power production and district heating businesses havebeen crucial to the result, says CEO of Hafslund, Finn Bjørn Ruyter.
Power production was 12.9 TWh as of the third quarter, down 9 percent fromlastyear and 7 percent lower than normal for the period. This is mainly due tolesssnow in the winter season, which resulted in lower snowmelt and productionthroughout the spring and summer. The production includes 0.6 TWh fromstructural growth through the acquisitions of Tonstad Vindkraft in 2024 andSarpsfoss Limited in 2025.
District heating sales ended at 1,087 GWh, compared to 1,197 GWh in the sameperiod last year due to a mild winter. Despite good operations and somewhatbetter sales margins, the district heating business had a negative resultaftertax of NOK 167 million so far this year, partly due to weakened frameworkconditions.
The market expects somewhat lower power prices, which places stricterrequirements on investment decisions and profitability in new projects.Hafslundwill continue to develop renewable energy and district heating to ensurelong-term growth and value creation for the City of Oslo.
The report is also available at Hafslund's website www.hafslund.no.
Hafslund ASOslo, 3 November 2025
For further information: Marte Hortemo, Communication Manager, tel: +47 993 56 242 or e-mail:marte.hortemo@hafslund.no Andreas Wik, Head of Treasury, tel: +47 924 97 255 or e-mail:andreas.wik@hafslund.no
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