In the period, Ørsted achieved an operating profit (EBITDA) of DKK 5.5 billion, up 68% compared to 2017. The company increased their share of renewable energy from 56% in Q1 2017 to 68% in Q1 2018.
Profits from offshore wind farms in operation increased by 51% to DKK 3.2 billion, primarily due to ramp-up of the Walney Extension, Race Bank and Burbo Extension offshore wind farms as well as higher wind speeds, especially in the UK. Net profit increased by 150% to DKK 3.0 billion. The company increased its EBITDA guidance for 2018 from DKK 12-13 billion to DKK 12.5-13.5 billion. The increase is due to an operationally strong start to the year as well as a positive outcome of an arbitration related to a gas purchase contract.
