Statkraft Posts Strong Q1 2026 Profits Despite Hydropower Dip
Event summary
- Statkraft reported Q1 2026 underlying EBITDA of NOK 13.3 billion, up from NOK 10.9 billion, driven by higher Nordic power prices despite a 6.9% drop in power generation to 20.3 TWh.
- Net profit rose to NOK 8.1 billion from NOK 6.8 billion, boosted by favorable currency effects and higher power prices.
- The company completed divestments including a hydrogen project in Sweden, three small hydropower plants in Peru and Brazil, and the Tidong hydropower project in India.
- Statkraft made investment decisions for 13 MW of new renewable capacity, maintaining a long-term annual investment capacity of NOK 16–20 billion.
- Return on average capital employed (ROACE) reached 12.3%, exceeding the 12% target, with net interest-bearing debt reduced by NOK 8.3 billion from year-end 2025.
The big picture
Statkraft's strong Q1 2026 results highlight the resilience of its diversified portfolio amid geopolitical uncertainty. The company's focus on cost-cutting and strategic divestments reflects broader industry trends toward portfolio optimization and financial discipline. With a solid balance sheet and maintained investment capacity, Statkraft is positioning itself to navigate market volatility while expanding its renewable energy footprint.
What we're watching
- Market Volatility
- How geopolitical turmoil and market volatility will impact Statkraft's trading portfolios and hedging strategies.
- Hydropower Recovery
- Whether Statkraft can offset lower hydropower generation with higher power prices and operational efficiency gains.
- Divestment Strategy
- The pace at which Statkraft can execute further divestments to strengthen its balance sheet and focus on core assets.
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