Reported figures (IFRS) 

Reported figures (IFRS)

2016

2017

2018

2019

2020

Revenue 6 678 7 401 9 138 9 641 10 761
EBITDA 3 296 3 715 5 100 5 432 6 741
EBIT 1 152 1 312 3 120 3 027 3 868
Profit after tax 645 813 2 213 1 906 2 697

 

Adjustments

Adjustments

2016

2017

2018

2019

2020

Accumulated higher revenue*

343 -303 59 -732 60

Adjustments for changes

in acc. higher/lower revenue

1 003 646 -362 791 -792

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

 

 

Adjusted figures

Adjusted figures            

2016

2017

2018

2019

2020

Adjusted revenues

7 681 8 047 8 776 10 432 9 969

EBITDA

4 299 4 361 4 738 6 223 5 949

EBIT

2 155 1 958 2 758 3 818 3 076

Profit after tax

1 397 1 304 1 934 2 523 2 079

 

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.