Elmera Group ASA

Earnings Release • Oct 9, 2019

Fjordkraft Holding ASA: Q3 2019 customer growth

Fjordkraft Holding ASA: Q3 2019 customer growth

In the third quarter of 2019, the number of electricity deliveries increased by 11,892 in the Consumer segment and Business segment combined. The organic growth amounted to 2,274 electricity deliveries in the Consumer segment and 213 electricity deliveries in the Business segment. The additional growth is from the acquisition of Vesterålskraft Strøm. The number of electricity deliveries in the Consumer and Business segments at the end of Q3 2019 was 619,455.

At the end of the third quarter 2019, Extended Alliance comprised 32,033 electricity deliveries. One new partner, Orkland Energi, is included in the Extended Alliance this quarter, while the customers of Vesterålskraft Strøm is now part of the Consumer and Business segments, following the recent acquisition.

In total, the Group had 651,488 electricity deliveries at the end of the third quarter 2019. This is an increase of 21,679 electricity deliveries compared to the end of the third quarter 2018.

“We are very satisfied with a growth of nearly twelve thousand electricity deliveries in the Consumer and Business segments this quarter, and the fact that we are growing both organically and through acquisitions is particularly satisfying. Through the acquisition of Vesterålskraft Strøm we get hold of the entire customer relationship, and not only the service offering we had through Extended Alliance” says Rolf Barmen, CEO of Fjordkraft.

The number of mobile subscriptions grew by 11,177 in the third quarter of 2019, reaching a total of 92,271 subscriptions at the end of the period.

“The launch of the mobile service has been a fantastic journey for us, and this is the highest quarterly growth in number of subscribers since the second quarter of 2017. This proves that we are an attractive challenger to the more established players in the industry” says Barmen.

For queries, please contact:

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