Norwegian energy group Elmera reported a 30.1% year-over-year increase in second-quarter adjusted operating profit to NOK 121.2 million, as revenue rose 7.8% to NOK 399 million. The company’s last-twelve-months adjusted EBIT climbed 8.4% to NOK 542 million, supported by segmental gains across its consumer, business, and Nordic operations.
Adjusted net revenue for the quarter reached NOK 399 million, up from NOK 370 million in the prior-year period, while adjusted operating expenses remained flat at NOK 278 million. Net profit for the period totaled NOK 35.4 million, with basic earnings per share rising to NOK 0.32 from NOK 0.25. Cash EBIT adjusted came in at NOK 126 million, and adjusted EBITDA stood at NOK 180 million.
Elmera’s balance sheet strengthened during the quarter, with net debt reduced by NOK 820 million to NOK 1.04 billion as of June 30. Total interest-bearing debt fell to NOK 943 million, comprising NOK 843 million in long-term debt and NOK 100 million in short-term obligations. Cash and cash equivalents totaled NOK 392 million, while total assets declined to NOK 5.24 billion from NOK 7.10 billion at year-end 2025. Shareholders received NOK 219 million in dividends during the quarter.
Segment performance showed mixed trends. The consumer segment delivered 684,000 customer deliveries at quarter-end, up 19,000 year-over-year, with volume sold increasing 8% to 1.67 terawatt-hours. Adjusted EBIT for the segment rose to NOK 62 million from NOK 59 million. The business segment reported a 5% revenue increase to NOK 121 million but saw deliveries decline to 123,000, with adjusted EBIT up to NOK 58 million. The Nordic segment swung to a positive adjusted EBIT of NOK 10 million from a NOK 23 million loss a year earlier, driven by higher customer deliveries and revenue.
Management reiterated its full-year 2026 guidance for adjusted EBIT of approximately NOK 575 million, having achieved NOK 322 million in the first half. The outlook follows Fortum’s recommended voluntary cash tender offer at NOK 47 per share, announced June 29, 2026, subject to regulatory approvals in Norway, Sweden, and Finland and a 90% minimum acceptance threshold.
Elmera’s CEO Rolf Barmen stated the company remained focused on customer operations and financial performance amid the takeover process. CFO Henning Nordgulen highlighted the debt reduction, noting net debt fell from NOK 1.86 billion at March-end to NOK 1.04 billion by June-end.
