The Board of Directors of Ørsted (former DONG Energy) has approved the interim financial report for 9M 2017. Operating profit (EBITDA) for the first nine months amounted to DKK 9.5 billion, corresponding to an underlying growth of 11%. Following the farm-down of 50% of Walney Extension they have increased their EBITDA guidance for 2017 from DKK 17-19 billion to DKK 19-21 billion.
Their underlying operating profit (EBITDA) was 10% lower compared with Q3 2016. Earnings from their operating offshore wind farms increased by 39%, driven by ramp-up generation from new offshore wind farms. The decrease in their remaining earnings was primarily due to partnership income in Wind Power being higher in Q3 2016 than in Q3 2017. Reported operating profit (EBITDA) from continuing operations totalled DKK 1.8 billion against DKK 3.1 billion in Q3 2016. The decline was expected and was primarily due to Q3 2016 being positively affected by one-off compensations of DKK 1.1 billion from the renegotiation of a gas purchase contract. Their installed and decided capacity of offshore wind now accounts for almost 9GW out of their ambition of 11-12GW by the end of 2025. The company expects that more than 95% of the power and heat we generate in 2023 will be green.
