Ørsted achieved an operating profit (EBITDA) of DKK 10.8 billion in the first nine months (9M) of 2018, up 14% compared to 9M 2017. This was mainly due to a 32% increase in operating profits from wind farms in operation.Their green share of generation increased from 59% to 71%.
The company has increased its EBITDA (business performance) guidance, excluding new partnership agreements, by DKK 0.5 billion to DKK 13-14 billion. The increase is primarily due to good progress on their offshore construction projects, which is expected to result in higher earnings on their construction agreements and a faster ramp-up of generation from Borkum Riffgrund 2. The Lincoln Clean Energy acquisition will only have a limited impact on EBITDA in 2018. The company increased its gross investment guidance from DKK 16-18 billion to DKK 23-25 billion following the agreement to acquire Deepwater Wind. The guidance includes the acquisition price of Deepwater Wind, early investment commitments for the US offshore and onshore wind portfolio in Q4 2018, as well as increased investments in the remaining construction portfolio due to timing across years.
