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Ørsted exceeds prior expectations for 2017

Ørsted exceeds prior expectations for 2017

10-01-2018 14:00:00

Based on the current unrevised statements, energy company Ørsted expect the operating results (EBITDA) for 2017 to amount to approximately 22,5 billion Danish kroner. This is an improvement compared to the company’s prior expectations, which was 21 billion kroner.

”The increase is primarily due to the great earnings our offshore wind farms produced at the end of the year, as a result of high wind and a faster phasing-in of production from the new parks Race Bank and Walney Extension," the company writes in a statement.

"Other than this, earnings from cooperation agreements are better than expected due to positive progress and lower costs for contract work in Race Bank and Walney Extension.

Finally, the income from our gas portfolio activities in Distribution & Customer Solutions is beyond expected, partly because of the positive impact from the value of our gas in stocks towards the end of the year”, the company elaborates.

The information written in the announcement does not affect Ørsted's expected investment levels of 2017. The company will publish the 2017 report on February 1, 2018.

Source: Ørsted / Maritime Denmark

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