Statkraft Peru recorded an increase of revenues of more than 20% in 2016
08.05.2017 18:55 | pressrelease
Statkraft Peru closed 2016 with an invoicing amounting to USD 136 million, which represents a 24% increase compared to 2015.
Based on the operations of the company in 2016, Statkraft Peru recorded an EBITDA (earnings before taxes, taxes, depreciation and amortization) of USD 78.2 million, which represents a 40% increase compared to 2015.
Alvaro Porturas, Chief Financial Officer of Statkraft Peru, remarked that the power industry around the world is being affected by power oversupply and low prices. This situation has driven Statkraft to strengthen its competitiveness in Europe and in the countries where it operates. “Notwithstanding the plummeting power prices around the world and the current power oversupply in the Peruvian market, Statkraft Peru managed to reach these results mainly due to the commissioning of the Cheves Hydropower Plant, the efficiency programs launched by the company and by entering into new power purchase agreements,” he explained.
It should be noted that Statkraft Peru has a diversified client portfolio made up of mining companies (42%), companies from the retail, banking, industrial and fishing sectors (7%), and power distribution companies (51%).