Indicator tables
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Definitions
| Term | Definition | |
|---|---|---|
| EBITDA | Operating profit/loss + depreciation | |
| Net interest-bearing liabilities | Gross interest-bearing liabilities - interest-bearing receivables - bank deposits - money market funds | |
| Engaged capital | Equity + net interest-bearing liabilities + Tax payable | |
| ROE | Profit after tax/Avg equity 1.1.and 31.12 | |
| ROCE | Operating profit / Avg committed capital 1.1.and 31.12 | |
| Debt/EBITDA | Average net interest-bearing debt 1.1 and 31.12 / EBITDA | |
| FFO/Debt | (EBITDA - interest paid - tax paid) / Average net interest-bearing debt 1.1 and 31.12 | |
| Hydropower production | Total production in power plants in TWh | |
| Achieved power price | Power production sold in spot market, industrial contracts and concessionary power, and realised results from financial power hedging. | |
| District heating sales | Total district heating volume sold, in GWh | |
| Underlying results | Result corrected for non-recurring items and unrealised changes in value. |
Key figures and list of definitions have been expanded in relation to 2021 as a result of Hafslund Oslo Celsio becoming part of the Hafslund Group during 2022.
Alternative performance measures
| NOK million | 31.12.2022 | 31.12.2021 |
|---|---|---|
| GROSS AND NET INTEREST-BEARING DEBT | ||
| Long-term interest-bearing debt | 20,203 | 17,745 |
| Value change loan portfolio | 153 | -259 |
| Short-term interest-bearing debt | 2,819 | 950 |
| Gross interest-bearing debt incl subordinated debt | 23,174 | 18,436 |
| Cash and cash equivalents | 13,497 | 6,988 |
| Other long-term interest-bearing receivables | 155 | 112 |
| Net interest-bearing debt | 9,523 | 11,336 |
| CAPITAL EMPLOYED | ||
| Equity | 42,604 | 26,816 |
| Net interest-bearing debt | 9,523 | 11,336 |
| Taxes payable | 13,482 | 4,895 |
| Capital employed | 65,609 | 43,046 |
| UNDERLYING PROFIT | ||
| Operating profit (EBIT) | 19,340 | 8,463 |
| Value changes in power price and foreign exchange contracts | 435 | 647 |
| Value change land compensation rights | 8 | 220 |
| Result share Eidsiva Energi - excess or defeat revenue after tax | 131 | 349 |
| Underlying operating profit | 19,914 | 9,678 |
| Profit after tax | 4,344 | 2,611 |
| Value changes and one-offs operating profit | 574 | 1,215 |
| Tax effects adjustments and one-offs | -101 | -272 |
| Underlying profit after tax | 4,817 | 3,554 |
| ROCE | ||
| Operating profit (EBIT) | 19,340 | 8,463 |
| Capital employed (average) | 54,327 | 44,052 |
| ROCE / return on capital employed | 35.6% | 19.2% |
| ROE | ||
| Profit after tax | 4,344 | 2,611 |
| Equity (average) | 34,710 | 26,327 |
| ROE / return on equity | 12.5% | 9.9% |
| DEBT / EBITDA | ||
| Net interest-bearing debt (average) | 10,429 | 14,990 |
| EBITDA | 20,087 | 8,979 |
| DEBT / EBITDA | 0.5 | 1.7 |
| FFO / DEBT | ||
| EBITDA | 20,087 | 8,979 |
| Interest paid | -664 | -605 |
| Taxes paid | -4,701 | -273 |
| Net interest-bearing debt (average) | 10,429 | 14,990 |
| FFO / debt | 141 % | 54 % |
Indicator table - The road towards climate positivity
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Greenhouse Gas Emissions Scope 1 | ||||
| Hydropower | tCO₂e | 1,053 | 619 | Increase in emissions from hydropower compared to 2021 due to two significant leaks of SF6 gas. |
| District heating | tCO₂e | 5,859 | - | Emissions from district heating relate to the use of LNG as peak load. |
| Waste incineration | tCO₂e | 197,777 | - | |
| Greenhouse Gas Emissions Scope 2 (market-based) | ||||
| Hydropower | tCO₂e | 0 | 0 | Hafslund Eco Vannkraft purchases guarantees of origin for its entire consumption. |
| District heating | tCO₂e | 129,033 | - | In 2022, Hafslund Oslo Celsio did not purchase guarantees of origin for its consumption of electricity in district heating and waste incineration. |
| Waste incineration | tCO₂e | 17,941 | - | |
| Greenhouse Gas Emissions Scope 2 (location-based) | ||||
| Hydropower | tCO₂e | 224 | 243 | |
| District heating | tCO₂e | 3,504 | - | |
| Waste incineration | tCO₂e | 488 | - | |
| Greenhouse Gas Emissions Scope 3 | ||||
| Hydropower | tCO₂e | 84,704 | 2,954 | Expansion of Scope 3 in 2022. The largest emissions are related to ownership in Eidsiva, purchased goods and services and capital goods. |
| District heating + waste incineration | tCO₂e | 23,187 | - | |
| CO₂ intensity district heating | gCO₂e/kWh | 15.7 | - | Calculated based on the methodology in accordance with the EPD regulations. |
| Energy consumption | ||||
| Hydropower | GWh | 22.6 | 16.4 | |
| District heating + waste incineration | GWh | 1,919.9 | - | |
| Share of electric vehicles | Per cent | 33 | 17 | |
| Biogenic emissions | tCO₂e | 188,551 | - | Only applies to emissions from waste incineration. Renewable fuels not included |
Indicator table - The road towards nature positivity
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Land restored or improved | m2 | 847 | - | New spawning grounds in the Aurland watercourse. |
| Number of new developments in areas defined as encroachment-free nature | Number | 0 | - | New indicator. |
| Number of violations of licence conditions and description | Number and remarks | 3 | 3 | Vetlebotvatn in Aurland: Violation of lowest regulated water level for summer for two hours on 5 September 2022. Moelv power plant in Ringsaker: The minimum water flow requirement past the power plant was not complied with on four occasions from 8 December 2021 to 13 December 2021. Raudalsvatn in Skjåk: Deviation from minimum water flow in Framrusti below Raudalsvatn between 1pm and 6pm on 1 July 2022. |
| Costs for watercourse-related R&D and voluntary nature surveys | NOK | 5,732,000 | - | New indicator. |
| Affected rivers with anadromous fish | Number | 3 | 3 | |
| Affected national salmon watercourses | Number | 0 | 1 | |
| Environmental audits carried out | Number | 22 | 32 | |
| Environmental measures implemented | Number | 22 | 7 | |
| Environmental measures implemented, including voluntary | Number | 19 | 3 | |
| Environmental studies carried out | Number | 37 | 41 | |
| Environmental studies carried out, including voluntary | Number | 33 | 36 | |
| Release of salmon roe | Number | 33,700 | 350,000 | |
| Migration in fish ladders and migration routes. Number of fish ladders that are monitored | Number | 10 | 9 | |
| Closed watercourse installations returned to natural conditions | Number | 0 | 0 | In 2022, the NVE issued a positive recommendation to shut down the Hunsjø Reservoir and reduce the regulation water level for Hyllsjøen. The matter is now being processed by the Ministry of Petroleum and Energy. |
| Voluntary release of minimum water flow to protect the fish in the watercourses | NOK million | 23.3 | 12.4 | The voluntary release in Hemsil was replaced by an imposed release. In Innlandet, there is the self-imposed trial regulation in Hunderfossen, and self-imposed minimum water flow in winter in Mesna and Sagnfossen. |
| Number of incidents involving emissions into the air/soil/water, and description | Number and remarks | 5 | 7 | In 2022, there were five major or minor oil spill incidents near Hafslund Eco Vannkraft's plants, which resulted in the total discharge of approximately 530 litres of oil. |
| NOx emissions (Hafslund Oslo Celsio) | kg | 335.4 | - |
Indicator table - Be a driving force for renewable energy through good stakeholder dialogue
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Hydropower’s reputation among the general public | Per cent | 89 | 90 | Support for hydropower is consistently high among the general public. Source: Kantar's Climate Barometer 2022 |
| Percentage of large hydropower projects that have been commenced which include stakeholder dialogue out of consideration to society, the public and the environment | Per cent | 95 | - | New indicator. |
Indicator table - Efficient and circular use of materials and resource utilisation
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Quantity of hazardous waste | - | |||
| Hafslund Eco Vannkraft, Hafslund Vekst and the Group | Tonnes | 8 | - | New indicator. |
| Hafslund Oslo Celsio | Tonnes | 17,791 | - | New indicator. For Hafslund Oslo Celsio, fly ash from waste incineration amounts to 17,666 tonnes. |
| Quantity of non-hazardous waste | - | |||
| Hafslund Eco Vannkraft, Hafslund Vekst and the Group | Tonnes | 828 | - | New indicator. |
| Hafslund Oslo Celsio | Tonnes | 62,138 | - | New indicator. The majority of Hafslund Oslo Celsio's waste consists of bottom ash (slag) from waste incineration. The ash is further treated by other operators, where metals are extracted and recycled (close to 4,600 tonnes of various metals). |
| Sorting rate | - | |||
| Hafslund Eco Vannkraft, Hafslund Vekst and the Group | Per cent | 89 | - | Sorting rate = Quantity of sorted waste/total quantity of waste (both sorted and unsorted) X 100 |
| Hafslund Oslo Celsio | Per cent | - | - | |
| - | ||||
| Sorting rate for large hydropower projects | Per cent | 91 | - | Calculated from four out of six of the largest construction projects. |
| Quantity of waste treated at waste incineration plants | Tonnes | 355,686 | - | Total Klemetsrud and Haraldrud. |
Indicator table - Production of clean energy
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Production of power | GWh | 13,800 | 18,315 | Hafslund's share of production in all power plants. |
| Share of renewable power production | Per cent | 100 | 100 | |
| Production of district heating | GWh | 1,807 | - | |
| Share of renewable district heating | Per cent | 43.2 | - | |
| Share of carbon-neutral district heating | Per cent | 55.3 | - | |
| Production of Guarantees of Origin | GWh | 13,200 | 18,150 | |
| Production of electricity certificates | GWh | 780 | 852 | |
| Power losses as a result of regulatory revisions | GWh | 14.7 | 6.7 | Power loss of 11.6 GWh/year in the Hols regulation and 2.9 Wh/year in the 24-hour regulation. |
Indicator table - Investments in clean energy
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Increased installed capacity - power production | MW | 9.9 | 118.9 | Mork power plant was completed in 2022. |
| Increased installed capacity - district heating | MW | 50 | - | Conversion of older facilities to renewable. |
| Reinvestment in production facilities (upgrades and expansions) | GWh | 13 | 28.2 | Aurland 1, Unit 2. |
| Investment in new production | GWh | 43 | 412 | Mork power plant was completed in 2022. |
| Renewable energy projects in planning phase | GWh | 700 | 26 | Approximate figures that include: Sarp2, FKF5, Hemsil 2, Longavotn, Kåja, Storrusten, Tunna, Grotli, Øyangen and Bjørkum. |
Indicator table - Security of supply
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Security of supply at Celsio | Per cent | 99.97 | - | Only unplanned stoppage of supply gives 99.99%. |
Indicator table - Safety for our employees
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Absence due to injury per million working hours | ||||
| Hafslund (the entire Group) | H1-value | 1.2 | - | |
| Hafslund Eco Vannkraft | H1-value | 0.9 | 1 | |
| Hafslund Celsio | H1-value | 1.6 | - | |
| Injuries per million working hours | ||||
| Hafslund (the entire Group) | H2-value | 2.9 | - | |
| Hafslund Eco Vannkraft | H2-value | 3.7 | 7 | |
| Hafslund Celsio | H2-value | 1.6 | - | |
| Days of absence per million working hours | ||||
| Hafslund (the entire Group) | F-value | 3.5 | - | |
| Hafslund Eco Vannkraft | F-value | 4.6 | 203 | |
| Hafslund Celsio | F-value | 1 | - | |
| Registered undesirable incidents and proposed improvements | ||||
| Hafslund (the entire Group) | Number | 1,325 | - | |
| Hafslund Eco Vannkraft | Number | 857 | 1,279 | |
| Hafslund Celsio | Number | 468 | - | |
| Safety talks at Celsio | Number | 126 | - |
Indicator table - Attractive and developing workplace
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| New hires | ||||
| Hafslund Eco Vannkraft, Hafslund Vekst and the Group | Number | 69 | 35 | |
| Hafslund Oslo Celsio | Number | 23 | - | |
| Turnover | ||||
| Hafslund Eco Vannkraft, Hafslund Vekst and the Group | Per cent | 6.5 | 3.4 | This includes retirements. |
| Hafslund Oslo Celsio | Per cent | 4.3 | - | |
| Proportion of managers who have completed leadership development programmes | ||||
| Hafslund Eco Vannkraft, Hafslund Vekst and the Group | Per cent | 100 | - | New indicator. |
| Hafslund Oslo Celsio | Per cent | 93 | - | New indicator. |
| Use of whistleblowing channel | Number/year | 0 | 0 | |
| Sick leave | Per cent | 3.8 | 2.8 | Still low sick leave compared to the national average. The increase from last year is probably due to increased short-term sick leave as a result of covid-19. |
Indicator table - Space for differences and equal opportunities for all
| Indicator | Unit | Result | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Proportion of female employees in the Group | Per cent | 22 | 22 | The proportion of female employees has increased at Hafslund Eco Vannkraft and Hafslund Vekst over the past year, however this is brought down slightly by the lower proportion of female employees at Hafslund Oslo Celsio. |
| Proportion of women in the Group management team | Per cent | 50 | - | New indicator. |
| Proportion of women in executive positions | Per cent | 32 | 28 | |
| Number of incidents of discrimination or harassment | Number | 0 | - | New indicator. |
| Number of instances of discrimination or harassment that were processed and for which an action plan was established | Number | 0 | - | New indicator. |
Indicator table - Third-party safety
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Injuries to third parties as a result of the company’s activities | Number | 0 | 0 | |
| Incidents reported to the NVE (accidents and incidents), cf. NVE reporting form, Section 7-11 of the Dam Safety Regulations | Number | 1 | 0 | |
| Completed risk and vulnerability assessments (RVAs) for public safety according to plan, cf. Section 7-6 in the Dam Safety Regulations | Number | 4 | 21 | |
| Incidents with notification to the public of flood alleviation according to established procedure | Number | - | 0 | |
| Emergency response exercises to ensure a high standard for internal preparedness and flood management | Number | 31 | 23 | Emergency response exercises. Excluding IT exercises and practical team exercises. |
| Applications to the NVE for deviations from regulation schedules or conditions in order to reduce risk of flood damage in time | Number | 1 | 1 | Approval of application for advance flood alleviation from Ustevatn to Rødungen South to prevent possible damaging floods downstream from Ustevatn. |
| Incidents reported to the Norwegian Directorate for Civil Protection and Emergency Planning (DSB) (accidents and incidents), cf. form for reporting accidents and incidents, Section 8 of the Norwegian Safety regulations relating to the maintenance and operation of electrical installations | Number | 0 | 0 |
Indicator table - Contribution to society and local value creation
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Value creation and distribution to host municipalities in the form of direct taxes and fees | NOK million | 447 | 474 | Paid during the year. Includes natural resource tax and property tax. |
| Contributions to host municipalities/county authorities in the form of concessionary power benefit | NOK million | 1,549 | 586 | Paid during the year. |
| Contributions to municipalities/county authorities in the form of licence fees | NOK million | 83 | 82 | Paid during the year. |
| Value creation and distribution to the Norwegian State in the form of direct taxes and fees | NOK million | 4,960 | 132 | Paid during the year. Tax, employer's National Insurance contributions, licence fee, NOx tax, and incineration fee. |
| Total remuneration to employees | NOK million | 751 | 472 | |
| Return to owner (City of Oslo) in the form of dividend | NOK million | 1,750 | 850 | Dividend paid in 2022. |
Indicator table - Responsible procurement practices
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Number of known violations of human rights or workers' rights | Number | 0 | 0 | |
| Number of supplier audits conducted, which includes sustainability issues | Number | 0 | 0 | No audits conducted. Work with due diligence assessments and follow-up of suppliers, including supplier audits, is to be strengthened in 2023. This may affect the results going forward. |
| Percentage of suppliers that have signed ethical guidelines for suppliers | Per cent | - | - | Suppliers sign ethical guidelines upon entering into contract. Better systems for following up and reporting on this will be introduced. |
Indicator table - Focus on ethics and anti-corruption
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Employees who have pledged to comply with the company's ethical guidelines | ||||
| Hafslund Eco Vannkraft, Hafslund Vekst and the Group | Per cent | - | - | All new employees pledge to comply when signing employment contract. Complete overview of the percentage of non-compliance for the Group, excluding Hafslund Oslo Celsio. At Hafslund Oslo Celsio, 75.8% have signed ethical guidelines. |
| Hafslund Oslo Celsio | Per cent | 75.8 | - | |
| Number of confirmed breaches of ethical guidelines | Number | 0 | 0 |
Indicator table - Secure IT services and systems
| Indicator | Unit | Result 2022 | Result 2021 | Remarks 2022 |
|---|---|---|---|---|
| Number of IT security incidents that were not dealt with | Number | 0 | - | New indicator. All IT incidents were dealt with and followed up. |
| Number of IT security incidents with serious consequences | Number | 2 | - | New indicator. Two registered incidents that can be categorised as being more serious. Both incidents were dealt with and followed up with incident reports that included follow-up points. |
| Number of IT emergency response exercises | Number | 3 | - | New indicator. A total of 3 IT emergency response exercises were held in 2022. |