Sweden's Rabbalshede Kraft 9-mo net loss deepens

Rabbalshede Kraft's Hud wind farm in Sweden. Credit: Rabbalshede Kraft AB.

Swedish wind power company Rabbalshede Kraft AB booked a consolidated net loss of SEK 96 million (USD10.7m/EUR 9.5m) for the first three quarters of 2021, against a deficit of SEK 45.4 million a year earlier.

For the third quarter of 2021 alone, the company said its results exceeded expectations even as electricity production fell short of the planned level.

Rabbalshede Kraft produced 171 GWh in electricity in the quarter to September, including 126 GWh from owned capacity and 45 GWh from co-owned capacity.

Production at some wind farms had to be halted to repair the blades, the company said.

Other financial and operating details are presented in the table below:

Amounts in SEK thousand unless otherwise noted	Q3 2021	Q3 2020	Q1-Q3 2021	Q1-Q3 2020
Net sales (electricity+certificate sales)	52,380	35,474	132,256	147,577
Total operating revenue	56,082	39,901	151,192	165,927
Total operating costs	(34,687)	(29,718)	(104,652)	(99,608)
EBIT (loss)	(13,386)	(20,825)	(67,267)	(24,115)
Profit (loss)	(20,413)	(29,105)	(95,988)	(45,360)
Electricity production excluding co-owned wind farms (in MWh)	126,760	119,474	427,018	455,306