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Windtech International January February 2024 issue

 

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Ørsted has presented an operating profit (EBITDA) for 2022 based on preliminary and unaudited reporting. EBITDA including new partnership agreements is expected to total DKK 32.1 billion in 2022, of which the gain from the 50 % farm-downs of Hornsea 2 and Borkum Riffgrund 3 amounted to DKK 11.0 billion in total. EBITDA excluding new partnership agreements is expected to be DKK 21.1 billion, an increase of DKK 5.3 billion compared to 2021.
 
Ørsted achieved higher earnings from its onshore wind and solar PV business, its combined heat and power plants, and its gas activities than expected at the beginning of the year, while earnings in offshore decreased. The unexpected decrease in offshore was primarily due to adverse impacts from hedges, and delays at its Hornsea 2 and Greater Changhua 1 & 2a construction projects.
 
EBITDA excluding new partnership agreements is expected to be DKK 20-23 billion in 2023. Its EBITDA guidance assumes significantly higher earnings in offshore, the same level in Onshore, and significantly lower earnings in Bioenergy & Other compared to 2022.
 
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