Elmera Group ASA

Earnings Release • Jan 11, 2019

Fjordkraft Holding ASA: Q4 2018 customer growth

Fjordkraft Holding ASA: Q4 2018 customer growth

In the fourth quarter of 2018, the number of electricity deliveries in the Consumer and Business segments increased by 8,687, of which 2,108 organic. The number of electricity deliveries in the Consumer and Business segments at the end of Q4 2018 was 604,973.

Due to Statnett’s Elhub project, a new IT solution for information exchange between actors in the power market, new Extended Alliance partners will not be implemented until 1st May 2019. At the end of the fourth quarter 2018, Extended Alliance comprised 33,464 electricity deliveries, a decrease of 59 electricity deliveries from last quarter.

In total, the Group had 638,437 electricity deliveries at the end of the fourth quarter 2018. This is an increase of 88,106 electricity deliveries compared to the end of the fourth quarter 2017.

“We are pleased with our organic growth in a quarter where we have seen tough competition. Electricity prices have been high throughout 2018, making customers more conscious about their electricity subscriptions. In a market like this, a strong brand is especially important,” says Rolf Barmen, CEO of Fjordkraft.

The number of mobile subscriptions grew by 4,763 in the fourth quarter of 2018, reaching a total of 65,981 subscriptions at the end of the period.

“We are happy with our growth in number of mobile subscribers. Several of the players challenging the established duopoly are growing, proving that the customers appreciate the increased competition,” says Barmen.

For queries, please contact:

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