Elmera Group ASA

Earnings Release • Jul 13, 2021

Fjordkraft Holding ASA: Q2 2021 customer growth

Fjordkraft Holding ASA: Q2 2021 customer growth

Fjordkraft Holding ASA’s customer base increased by more than 20,000 electricity deliveries in Q2.

The primary driver for the increase was Extended Alliance (+22,099), but the Nordic segment (+6,587) and the Business segment (+2,094) did also contribute positively to the Group’s customer growth in the quarter.

The Consumer segment (-10,640) shows a positive trend throughout the quarter. The shut down of physical sales channels affected the growth in April, May and first part of June, but after the reopening of physical sales channels in the first part of June there was a significant change in trend, resulting in positive growth figures in the last part of June.

“The customer growth in the Consumer segment improved significantly in June, which we are very pleased about. Given the government’s plan for reopening after Covid 19, we expect our sales activities to further increase going forward. For the seventh consecutive quarter, the Business segment delivers positive organic growth, and both Sweden and Finland are developing as planned” says Rolf Barmen, CEO of Fjordkraft.

Extended Alliance grew by 22,099 deliveries in the quarter, following the start up of two new Alliance partners, while number of mobile subscribers decreased by 526 in the quarter.

“The demand for our Extended Alliance offering is strong, and in combination with the transition to the MVNO platform in the Mobile segment, this will contribute to improved profitability in the New Growth Initiatives segment” says Barmen.

The customer base of Fjordkraft Holding ASA at the end of Q2:

Consumer: 725,514 (-10,640)

Business: 110,970 (+2,094)

Nordic: 167,414 (+6,587)

Extended Alliance: 81,017 (+22,099)

Mobile: 134,149 (-526)

For queries, please contact:

Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526