For over 10 years, Rabbalshede Kraft has contributed to increasing the global production of sustainable electricity. Our wind turbines provide clean, renewable electricity all year round.
Events during the period
• Our management of external turbines has grown by 30 percent.
• We increased the number of own wind turbines by 10 percent, resulting in a7 percent increase in production.
• We acquired 3 projects externally, and done well in developing ourown projects.
• We sold the Åndberg wind-power project.
Our sales increased from MSEK 257 to MSEK 331. EBIT increased from MSEK 3 to MSEK 75. Earnings before tax went from a loss of MSEK 100 to a profit of MSEK 33, and earnings for the period went from a loss of MSEK 100 to a profit of MSEK 19.
We expanded our partnerships during the year, with a focus on optimizing production and financial operations of our own and our customers’ wind turbines. We have also entered into partnerships with external parties in all our business areas; supporting further expansion and growth. Moving forward, we are focused on innovative technological solutions through which we can improve our operations together with our partners.
Our internal improvement efforts are also continuing; we have developed a new communication strategy and launched a refreshed website. Internal processes have also improved and are now more customer and market-oriented. A project for changing the current finance system to a business system has been initiated. We are also developing a “management by objectives” approach in the organization and building a healthy team spirit. The office in Gothenburg has moved to a new address in the city, while the office in Rabbalshede has been renovated.
In Q4, we purchased the Raftsjöhöjden wind farm, with annual production of 20 GWh.
EVENTS AFTER THE BALANCE-SHEET DATE
2019 got off to a fantastic start, with a further project acquisition, an investment decision on a new wind farm and the settlement of the earn out for the sales of project Åndberg. We are also delighted that Stine Rolstad Brenna is taking on the important role of Chair of the Board of Rabbalshede Kraft. We have great expectations for 2019, and the performance of the business in the first two months of the year very much support this view.
Mads Miltersen, CEO
Gothenburg, 28 February, 2019
Mads Miltersen’s term as CEO ended on 28 February 2019. Mr. Mikael Kowal assumes the role of Interim Managing Director for the period 1 March 2019 to 31 March 2019. Mr. Peter Wesslau starts the position of Group CEO on 1st April 2019.