Nuon earnings halved last year

Power company Nuon booked net profit of €200m last year, less than half of 2008’s earnings of €492m due to lower energy trading results.


Turnover rose from €4.7bn to €5.1bn following higher charges for gas and electricity. The number of clients remained stable at 2.3 million electricity and 1.9 million gas contracts, Nuon said.
Swedish state-owned energy giant Vattenfall took over 49% of Nuon last year and is to extend this to full ownership over the next few years.
Nuon CEO Oystein Loseth described the results as ‘robust’.

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