Brief: Elmera Expects 2023 Adjusted EBIT Around NOK 500 Million

Elmera ASA

23/12/2022 07:06

Dec 23 (Reuters) - Elmera Group ASA  ELMRA.OL :
    * TRADING UPDATE
    * HAS EXPERIENCED SIGNIFICANT SHIFT TOWARD SPOT CONTRACTS IN
Q4
    * AT YEAR-END, VARIABLE CONTRACT CUSTOMERS ARE EXPECTED TO
REPRESENT LESS THAN 15% OF CONSUMER SEGMENT, DOWN FROM
APPROXIMATELY 27% AT BEGINNING OF Q4
    * WITH DECREASING ELSPOT PRICES THROUGH OCTOBER AND
NOVEMBER,
VALUE OF FORWARD CONTRACTS FOR VARIABLE PRODUCTS THESE MONTHS
WAS NEGATIVE
    * DOES NOT EXPECT TO MEET EBIT ADJUSTED OUTLOOK FOR 2022
    * IN ADDITION, RAPIDLY INCREASING PRICES IN DECEMBER HAS HAD
A
NEGATIVE MARGIN IMPACT ON REMAINING UNHEDGED VOLUMES ON VARIABLE
CONTRACTS
    * FOR 2023, GROUP EXPECTS EBIT ADJUSTED IN AREA OF NOK 500
MILLION
    * CONSUMER SEGMENT IS EXPECTED TO DELIVER NEGATIVE EBIT
ADJUSTED
IN Q4 2022
    * INTEREST EXPENSE ASSOCIATED WITH ELECTRICITY PURCHASE IS
EXPECTED TO SIGNIFICANTLY INCREASE IN 2023 COMPARED TO 2022

Source text for Eikon:  ID:nObi73Y4ma 
Further company coverage:  ELMRA.OL 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))