Dong energy’s operating profit (EBITDA) increased by 7% to DKK 4.8 billion in Q3 2016. The increase was driven by a 19% increase in wind power and a positive effect from a lump sum payment received in connection with the completed renegotiation of a gas purchase contract.
Underlying profit, adjusted for items of non-recurring nature, increased by 5%. Profit for the period amounted to DKK 3.3 billion in Q3 2016, DKK 2.9 billion higher than in Q3 2015. The company has decided to initiate a process with the aim of ultimately exiting from their oil and gas business and working a the strategic transformation towards becoming a global leader in renewables. The company currently has seven large offshore wind farms under construction. The construction programme totalling 4.4GW is well on track. In parallel, they continue to shape their pipeline of offshore wind project opportunities for the period beyond 2020. EBITDA (business performance) is expected to amount to DKK 20-23 billion in 2016 and gross investments for 2016 are expected to amount to DKK 18-21 billion.
