Interim report January-September 2017 Rabbalshede Kraft AB (publ)

2017-11-23

Third-quarter production totaled 95,121 MWh (104,775) · Net sales amounted to KSEK 47,287 (50,364) · EBITDA totaled KSEK 25,006 (25,305) · EBIT was KSEK 1,696 (2,868) · Average income for wind-power production was SEK 497/MWh (481), of which electricity accounted for SEK 311/MWh (305) and electricity certificates and guarantees of origin for SEK 186/MWh (176).

First nine months, January-September 2017

· Production from the Group’s wind farms during January-September amounted to 341,560 MWh (316,825).  
· Net sales totaled KSEK 157,094 (144,809).
· EBITDA amounted to KSEK 73,891 (65,601).
· EBIT totaled KSEK 5,529 (loss: 1,607).
· Average income for wind-power production was SEK 460/MWh (457), of which electricity accounted for SEK 312/MWh (298) and electricity certificates and guarantees of origin for SEK 148/MWh (160).
· Depreciation/amortization/impairment losses amounted to KSEK 67,390 (67,208).
· The loss after tax was KSEK 79,925 (loss: 114,778).

Significant events

In August, the company entered into a three-year management agreement with Vänern wind farm. Under the agreement, Rabbalshede is responsible for the management, monitoring, service and maintenance of seven of the wind turbines at Vänern wind farm. The agreement is for three years, with an option to extend for an additional two years.

On August 31, Rabbalshede Kraft finalized refinancing of the company with Swedbank, which means that the company now has a new loan structure in place that creates a stable base for the company for the foreseeable future. As a result of the refinancing, we have concluded a period of focus on internal consolidation, and we are now ready for growth.

On September 1, Martin Pettersen was hired to head business development, and will be part of the management group. Martin comes to us from Mpiro Windpower, his own consulting firm specializing in advisory services around sales and acquisitions of wind farms and projects.

At the beginning of September, Rabbalshede Kraft sold the permit for Vetteberget to Waros Holding AB.

Significant events after the end of the period

On October 1, Lyrestad wind farm was inaugurated.

On November 20, Wenche Gullaksen was hired as Sales Manager, and will be part of the management group. Wenche has worked in the electricity market with both consumption and production for seven years, among others at Danske Commodities and Energiförsäljning Sverige.