Definitions / Alternative Performance Measures
Alternative Performance Measures are used to provide the users of this report with more consistent measurement of operating performance and other relevant key performance indicators frequently used by stakeholders.
| Key Figures | Definition |
|---|---|
| EBITDA | Operating profit (loss) before depreciation, write downs, gain/loss on forward contracts on share purchase, and change in fair value of power contracts, and investment property |
| Adjusted operating profit | Operating profit adjusted for special items to better reflect a more normalised operating profit and value creation |
| Adjusted profit before tax | Adjusted operating profit after net financials |
| Liquidity reserve | Bank deposits (ex. Restricted cash deposits) + unused overdraft facilities |
| Profit margin | Profit or loss after tax divided by sales revenues |
| Interest bearing debt | Interest bearing loans + leasing obligations + bank overdrafts |
| Net interest bearing debt | Interest bearing loans + leasing obligations + bank overdrafts - cash and cash equivalents |
| NOK million | Q3 2025 | Q3 2024 | Pr. Q3 2025 | Pr. Q3 2024 | 2024 |
|---|---|---|---|---|---|
| Reported operating profit | 57.2 | 33.0 | 127.5 | 36.7 | 22.3 |
| Change in fair value of power contracts (income "-" - expense "+") | (17.4) | 5.2 | (18.0) | 62.2 | 102.7 |
| Adjusted operating profit | 39.8 | 38.2 | 109.5 | 98.9 | 125.1 |
| NOK million | Q3 2025 | Q3 2024 | Pr. Q3 2025 | Pr. Q3 2024 | 2024 |
|---|---|---|---|---|---|
| Adjusted operating profit | 39.8 | 38.2 | 109.5 | 98.9 | 125.1 |
| Depreciation (income "-" - expense "+") | 22.0 | 20.3 | 66.0 | 64.7 | 87.8 |
| EBITDA | 61.8 | 58.5 | 175.5 | 163.6 | 212.9 |
| NOK million | Q3 2025 | Q3 2024 | Pr. Q3 2025 | Pr. Q3 2024 | 2024 |
|---|---|---|---|---|---|
| Adjusted operating profit | 39.8 | 38.2 | 109.5 | 98.9 | 125.1 |
| Net financials (income "+" - expense "-") | (23.4) | (28.1) | (73.0) | (70.5) | (93.4) |
| Adjusted profit before tax | 16.4 | 10.1 | 36.5 | 28.4 | 31.7 |