Reported figures (IFRS) 

Reported figures (IFRS)

2015

2016

2017

2018

2019

Revenue 5 906 6 678 7 401 9 138 9 641
EBITDA 3 340 3 296 3 715 5 100 5 432
EBIT 1714 1 152 1 312 3 120 3 027
Profit after tax 1 103 645 813 2 213 1 906

 

Adjustments

Adjustments

2015

2016

2017

2018

2019

Accumulated higher revenue*

1 346 343 -303 59 -732

Adjustments for changes

in acc. higher/lower revenue

444 1 003 646 -362 791

*Please see note 4 in annual report for yearly changes in accumulated higher/lower revenue

 

 

Adjusted figures

Adjusted figures            

2015

2016

2017

2018

2019

Adjusted revenues

6 350 7 681 8 047 8 776 10 432

EBITDA

3 784 4 299 4 361 4 738 6 223

EBIT

2 158 2 155 1 958 2 758 3 818

Profit after tax

1 427 1 397 1 304 1 934 2 523

 

Result after tax

Statnett's revenues

Statnett's reported revenues consist of grid tariffs from the main grid customers as well as congestion revenues. Congestion revenues arise as a result of transmission of power from low-price areas to high-price areas in the Nordic region and between Norway and the Netherlands. Grid tariffs are stipulated prior to each calendar year.


The revenues are determined and controlled by the authorities through the The Norwegian Energy Regulatory Authority (NVE-RME) and an annual permitted revenue is stipulated. The intention is to set the permitted revenue at a level that allows Statnett to cover the costs of grid development and maintenance, and provides a fair return on grid investments, assuming that the transmission grid is operated, utilised and developed in an efficient manner.


If the actual revenues diverge from the permitted revenue, higher or lower revenue will occur. In accordance with regulations from the The Norwegian Energy Regulatory Authority (NVE-RME), higher/lower revenue should be evened out over time through adjustment of future grid tariffs. Consequently, the higher/lower revenue represents temporary amounts in Statnett's reported figures. The adjusted figures exclude these temporary amounts to show the underlying revenue. No other adjustments have been made to the reported IFRS accounting.