Hafslund reports solid Q3 2025 results, net profit rises to NOK 2.8bn

Hafslund AS announced a solid result for the third quarter of 2025, with net profit after tax rising by NOK 178m to NOK 2,829m compared to the same period last year. Operating profit reached NOK 7,110m, up from NOK 6,328m in 2024, primarily due to strong production optimization in both power generation and district heating, along with increased contributions from Eidsiva Energi. The achieved power price was NOK 0.68 per kWh, a 12 øre increase year-over-year and 15% above spot prices.

Power production for Q3 2025 was 12.9 TWh, a 9% decrease from the previous year, mainly attributed to reduced snowmelt in the winter season of 2024/2025. This figure includes 0.6 TWh from structural growth driven by the acquisitions of Tonstad Vindkraft and Sarpsfoss Limited. District heating sales declined to 1,087 GWh from 1,197 GWh due to a milder winter.

Despite positive sales margins, the district heating business recorded a negative after-tax result of NOK 167m for the period, influenced by weaker framework conditions. The company anticipates lower power prices in the future, necessitating stringent investment decisions. Hafslund continues to focus on developing renewable energy and district heating for long-term growth and value creation.