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May 7, 2026 4:00 AM

Solid first quarter results despite lower production

Statkraft delivered strong results in the first quarter of 2026, driven by significantly higher Nordic power prices despite lower production. In addition, there were improved results from Markets' activities.

Key figures first quarter 2026

Power generation: 20.3 TWh (21.7 TWh), down due to lower Norwegian hydropower production

Underlying EBITDA: NOK 13.3 billion (NOK 10.9 billion)

Net profit: NOK 8.1 billion (NOK 6.8 billion), driven by higher Nordic power prices as well as a strengthened NOK

"Statkraft delivered strong quarterly results in the first quarter, driven primarily by higher power prices in the Nordics and solid operational performance. We are on track with our strategy implementation program, and divestments and cost-cutting measures are starting to show results in our cost development," says Birgitte Ringstad Vartdal, President and CEO of Statkraft.

Progress on strategy and portfolio focus

Statkraft continued to execute on its strategy in the first quarter of 2026, closing divestments of a hydrogen project in Sweden, three small hydropower plants in Peru and Brazil and the Tidong hydropower project in India. In Norway, several onshore wind projects reached important milestones, and investment decisions were made for the rehabilitation of Bjølsegrø dam and two large maintenance projects at Oksla and Sima hydropower plants.

The ...