April 20, 2014 5:21 PM ET

Electric Utilities

Company Overview of Statnett SF

Company Overview

Statnett SF, a Transmission System Operator, operates the Norwegian electric power system in Norway. The company’s Norwegian power grid comprises approximately 10,000 kilometers of high voltage transmission lines, 1000 kilometers of submarine cables, as well as approximately 130 transformer, switching, and compensator stations, including control systems. It is also involved in the transmission and distribution of hydroelectric power, as well as coordination and maintenance of the Norwegian national power grid. The company primarily serves households. In addition, it operates a heavy transport business on land and sea. The company was founded in 1919 and is headquartered in Oslo, Norway.

Nydalen allé 33

Oslo,  0423

Norway

Founded in 1919

1,069 Employees

Phone:

47 23 90 30 00

Fax:

47 23 90 30 01

Key Executives for Statnett SF

Chief Executive Officer and President
Age: 55
Chief Financial Officer
Executive Vice President of System Operations
Executive Vice President of Information & Telecommunication Technologies (ICT)
Age: 50
Senior Vice President
Compensation as of Fiscal Year 2013.

Statnett SF Key Developments

Statnett SF Announces Consolidated Earnings Results for the Fourth Quarter and Full Year of Fiscal 2013

Statnett SF announced consolidated earnings results for the fourth quarter and full year of fiscal 2013. For the quarter, the company announced loss after tax of NOK 69 million against profit of NOK 115 million for the same period a year ago. The reduction is mainly due to lower congestion revenues and lower tariff revenues due to planned downward adjustment of tariffs for 2013. Total operating Revenue was NOK 1,071 million, compared to NOK 1,341 million for the same period in 2012. Operating loss was NOK 30 million compared to operating profit of NOK 227 million a year ago. Loss before tax was NOK 115 million compared to profit before tax of NOK 163 million a year ago. For the year, the company announced profit after tax of NOK 82 million against NOK 837 million for the same period a year ago. Total operating Revenue was NOK 4,561 million, compared to NOK 5,334 million for the same period in 2012. Operating profit was NOK 346 million compared to NOK 1,433 million a year ago. Profit before tax was NOK 89 million compared to NOK 1,162 million a year ago. Net cash flow from operating activities was NOK 1,304 million compared to NOK 1,426 million a year ago. Purchase of tangible fixed assets and plants under construction was NOK 5,546 million compared to NOK 3,049 million a year ago.

Statnett SF Amends Articles of Association

Statnett SF, at its extraordinary Enterprise General Meeting held on December 17, 2013 has decided to amend its articles of association. In Statnett's articles of association 5 it is determined that the Government's capital contribution to Statnett SF is NOK 2,700 million. In connection with the National Budget 2014 the Norwegian Parliment (Stortinget) has decided to inject new equity in Statnett SF amounting to NOK 3,250 million. 5 in Statnett's articles of association will be amended according to this. The Enterprise General Meeting has decided that 5 in Statnett SFs articles of association shall read: 'The government's capital contribution to Statnett SF amounts to NOK 5,950 million'.

Statnett SF, Special/Extraordinary Shareholders Meeting, Dec 17, 2013

Statnett SF, Special/Extraordinary Shareholders Meeting, Dec 17, 2013. Agenda: To increase equity with NOK 3.25 million; to consider amendment to its articles of association; and to consider new dividend policy.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 23, 2013
Lyse Sentralnett AS
 

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