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Windtech International May June 2024 issue

 

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Ørsted’s Board of Directors has approved the interim report for the first nine months (9M) of 2020. Ørsted’s operating profit (EBITDA) amounted to DKK 13.1 billion, a 2% increase compared to the same period last year.
 
Earnings from offshore and onshore wind farms in operation increased by 16% to DKK 11.6 billion driven by the ramp-up of power generation from Hornsea 1, Borssele 1 & 2, Lockett, Sage Draw, and Plum Creek. In August, the company closed the divestment of its Danish power distribution, residential customer, and city light businesses. The transaction resulted in a gain of DKK 11.1 billion. As a result, net profit amounted to DKK 14.6 billion. The green share of Ørsted’s heat and power generation increased from 83% to 89%. Its EBITDA guidance is unchanged relative to the guidance in the company’s interim financial report for H1 2020, and thus the company reiterate its EBITDA guidance of DKK 16-17 billion in 2020. The Board of Directors maintains its expectations for gross investments of DKK 28-30 billion in 2020.
 
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