Elmera, the Norway-based energy retailer, said adjusted net revenue for the second quarter rose year-on-year, with management attributing the gain to a combination of larger volumes and elevated elspot prices. The firm recorded adjusted net revenue of NOK 399 million for the quarter.
The company reported adjusted EBIT of NOK 121 million, up from the comparable period last year. Elmera said operating expenses were essentially unchanged during the quarter, a factor that helped support the increase in adjusted EBIT.
Executives highlighted performance across the company segments. The Consumer segment sustained a positive trajectory in customer growth, a trend singled out by CEO Rolf Barmen. The Business segment delivered its strongest adjusted EBIT in three years, while the Nordic segment registered a marked improvement relative to the previous year.
Elmera confirmed it is maintaining its financial targets for 2026. Management reiterated an adjusted EBIT target of around NOK 575 million, a figure explicitly stated to include Telinet. Separately, the company noted the Fortum tender offer process remains ongoing.
Taken together, the quarter's results show improvements in core top-line metrics and operating profitability without upward pressure from operating costs. The company pointed to external market conditions - namely higher trading volumes and elevated elspot prices - as principal contributors to the stronger revenue and earnings performance.
Elmera emphasized segment-level progress: continued consumer customer growth, a three-year high for Business adjusted EBIT, and a significant year-on-year improvement in the Nordic operations. Management has not revised the stated 2026 financial objectives and confirmed Telinet is to be included in those estimates. The Fortum tender process remains an unresolved matter noted by the company.
The quarter therefore reflects both operational gains across segments and an unchanged cost base, while forward-looking targets remain in place amid an ongoing corporate action involving Fortum.