HAFSLUND ASA

HAFSLUND ASA

Previous company name
HAFSLUND NYCOMED A/S
Name change date
5/13/1996
Company Overview
Hafslund ASA, with headquarters in Oslo, Norway, is Norway’s leading generator and supplier of electric power and security to Norwegian homes and businesses. The company develops, operates and maintains power generation facilities, power distribution networks and other infrastructures. It is a public limited company listed on Oslo Bors and is one of the largest listed electricity utility companies in the Nordic area. The company was established by forward-looking Norwegians in 1898.
Hafslund offers customers electric power and security solutions and combines production, delivery, and sale of both power and security products and services. It also provides services in engineering, construction and maintenance of network-related facilities. The company has four business areas: heat and infrastructure – include all tasks related to the operations of the network, power generation, district heating, telecommunication, broadband and real estate; technical services – include all services related to contracting, installation, electric safety, guarding and high security operations; markets – include electricity and security sales to the retail market, electricity sales to the corporate market, customer centre, invoicing services and the alarm central; and venture – represents the investment operations and tool for developing new business opportunities associated with the company’s core business activities. Furthermore, Hafslund owns Viken Fjernvarme AS, Norway’s largest district heating company.
The company’s corporate mission is to make everyday life safer and better by delivering both electric power and security – simply and efficiently.
Hafslund is an active company that primarily operates in Norway and in the United States of America (through wholly-owned subsidiaries).
The company is majority owned by the community of Oslo.
Business Summary
Hafslund ASA is a company active within the energy sector. The Company is engaged in the generation and supply of electricity, as well as the provision of security services to the domestic market. It is divided into four business divisions: Heat and Infrastructure that comprises such Hafslund s businesses as power generation, heat, network, telecom, and real estate; Technical Services offer contracting, installation, electrical safety, light, security technology, and guard services; Markets provide power and security products and services to the residential market, and power products to the corporate market; Venture represents the Hafslund Group s investment and development environment, and Other Activities provide management and support services in the areas of human resources, organizational development, information and public affairs, and treasury. The Company operates through its subsidiaries and associated companies. It is headquartered in Oslo, Norway.
Description and history
Hafslund ASA is a company active within the energy sector. It is a parent company within Hafslund Group, which is engaged in the generation and supply of electricity, as well as the provision of security services to the domestic market. It is divided into six business divisions. The Heat and Infrastructure comprises activities within power generation, heat, network, telecom, and real estate. The Hafslund Infratek ASA offers contracting, installation, electrical safety, light, security technology, and guard services. The Markets provide power and security products and services to the residential market, and power products to the corporate market. The Venture represents the Hafslund Group’s investment and development environment. The Treasury is responsible for financial management and reporting, as well as Hafslund’s Group power trading. The Group Functions provide services for companies within the Group.

History
The Company was established in 1898 by forward-looking Norwegians intent on adopting technological advances. Their objective was to harness hydropower generation for industry. Today’ s, the Company is Norway’ s supplier of electric power and security.

The newly established company purchased Hafslund manor and its Sarpsfossen waterfall rights that had been harnessed since the 1600s to power grain milling, sawmills, and industrial workshops. In 1899, Hafslund’s power station started generation as Norway’s first ‘major’ hydropower facility.

Energy and pharmaceuticals
In 1986, Hafslund acquired Actinor and its Nycomed subsidiary in a decisive move targeting greater industrial development. The new enterprise, Hafslund Nycomed, advanced rapidly in the pharmaceuticals and X-ray contrast imaging industries. In the spring of 1996, the energy and pharmaceuticals businesses were demerged, so that each could pursue its business development independently.

Mergers and acquisitions
In recent years, the Hafslund Group has focused its activities on energy, while progressively adding security services. In 2001, the Group acquired several alarm and security companies. Also that year, Hafslund acquired the power retailer Oslo Energi, and in 2002, became the sole owner of Tindra Energi. In 2003, Oslo Energi and Tindra were merged to form Hafslund Power Sales. Regarding power distribution in the greater Oslo area, a merger of Hafslund and Viken Energinett was initiated in 2001 and finalized in March 2002. In December 2007 the business area Technical Services, which included contracting services, electrical installation, electrical safety, road lighting, guard services, and security technology, demerged and established a separate company listed on the Oslo Stock Exchange. The company’s name is Hafslund Infratek ASA, in which Hafslund ASA owns 63 percent after the stock-exchange listing.

Hafslund has three business areas:
= Heat and Infrastructure include all tasks related to the operations of the network, power generation, district heating, telecommunication, broadband and real estate.

= Markets include electricity and security sales to the retail market, electricity sales to the corporate market, customer centre, invoicing services and the alarm central.

= Venture comprise Hafslund Venture which represents the Group’s investment operations and tool for developing new business opportunities associated with the Group’s core business activities.

Currently, Hafslund and its subsidiaries retail electric power to 600,000 customers and operate a distribution network serving 520,000 electric power customers. In just a few years, Hafslund has become Norway’s largest residential alarm company, protecting more than 80,000 homes.

Hafslund continually harvests synergies by combining overlapping operations that support its power sales, power distribution, and security businesses. As a provider of both electric power and security, Hafslund has a strong presence in peoples’ everyday lives.

Established by forward-looking Norwegians

Business Line
Develops, operates and maintains power generation facilities, power distribution networks and other infrastructures
Subsidiary
4-TECH AS
Advisor
PRICEWATERHOUSECOOPERS DA
IPO date

US SIC Code
4911
Company Address
Drammensveien 144

City province or state postal code
0277, OSLO
Phone: +47 22 43 50 00
Fax: +47 22 43 51 69
Country address: NORWAY
Website url: www.hafslund.no