Dong Energy’s operating profit (EBITDA) increased by 13% to DKK 18.5 billion in 2015. The positive development in operations compared to last year can mainly be attributed to higher production from offshore wind, higher levels of activity in connection with the construction of offshore wind farms for co-investors, the completed renegotiation of an oil-indexed gas purchase contract and lower costs in Oil & Gas, partly offset by lower oil and gas prices, lower oil and gas production and unfavourable market conditions for thermal power generation.
Wind power’s revenue grew by 70% in 2015 and operating profit (EBITDA) in wind power increased by 2% to DKK 6.2 billion. However, when accounting for divestment gains in 2014 the underlying profit growth was significantly higher. Net profit for the year amounted to DKK -12.1 billion against DKK -5.3 billion in 2014. Gross investments totalled DKK 18.7 billion in 2015, pertaining mainly to offshore wind activities (Gode Wind 1+2, Borkum Riffgrund 1, Westermost Rough, Burbo Bank Extension, Hornsea 1 and project rights for Hornsea 2). Business performance EBITDA is expected to total DKK 20-23 billion in 2016. Gross investments for 2016 are expected to total DKK 20-23 billion, reflecting consistently high levels of investment in their offshore wind farms.
