Midtfjellet Vindkraft will not pay dividends in the 300 MNOK-class as some media have described. Due to the Covid-19 outbreak, the proposed dividend of NOK 15 million is withheld.
Midtfjellet Vindkraft had sales of 129 MNOK in 2019. Operating profit was 13.5 MNOK. The reason for the negative annual result is only currency changes. Midtfjellet Vindkraft reports in NOK and has loans in EUR and is therefore affected by large currency fluctuations.
2019 was otherwise characterized by the fact that production was reduced by more than 40 GWh because of low wind for a full five weeks in October-November. Normal production is at 433.7 GWh per year, but fell to 390.15 GWh in 2019 due to the special situation in the fourth quarter.
This explains the reason why operating profit was more than half from NOK 29.4 million to NOK 13.5 million.