Published: 28 October 2020 28 October 2020
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.