After doing the activity for a while (more than an hour), the calories start to get understimated for the last laps.
For example in my first lap, warming up, it shows 8 cal per minute (even if I only did an avg of 15km/h). From the 6th lap, my edge 130+ shows 4 or 5 calories per minute, even if the average speed is higher (with the exception of one lap). My HR levels were also higher than in the first lap (the terrain is flat, so speed correlates well with HR).
This happens all the times when I do workouts of more than 1h15 or 1h20 min.