Underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) fell to NKr1.14bn ($134m) in the third quarter from the year-ago period, while the company turned to a net loss of NKr3.94bn compared to a net profit of NKr4.15bn a year earlier.
“We have experienced the lowest power prices in the Nordics in 15 years and have therefore held back water in order to produce more electricity when demand and prices are expected to be higher,” says chief executive Christian Rynning-Tønnesen.
The
