Swede Rabbalshede Kraft’s 9-month net loss worsens

November 24 (Renewables Now) – Swedish wind company Rabbalshede Kraft AB recorded a consolidated net loss of SEK 96 million ($ 10.7 million / € 9.5 million) for the first three quarters of 2021, compared to a deficit of SEK 45.4 million a year earlier.

For the third quarter of 2021 alone, the company said its results exceeded expectations even though power generation was below expected level.

Rabbalshede Kraft produced 171 GWh of electricity in the quarter ending September, of which 126 GWh was from owned capacity and 45 GWh from co-owned capacity.

Production at some wind farms had to be halted to repair the blades, the company said.

Further financial and operational details are presented in the table below:

Amounts in thousands of SEK unless otherwise indicatedQ3 2021Q3 2020Q1-Q3 2021Q1-Q3 2020
Net sales (electricity + sales of certificates)52,38035,474132,256147,577
Total operating revenue56,08239,901151,192165,927
Total operating costs(34 687)(29,718)(104,652)(99,608)
EBIT (loss)(13,386)(20,825)(67,267)(24,115)
Loss of profit)(20,413)(29,105)(95,988)(45,360)
Electricity production excluding co-owned wind farms (in MWh)126,760119,474427,018455,306

(1 SEK = 0.111 USD / 0.099 EUR)

Ann J. Cox