Orsted: Strong EBITDA of approx DKK 22.5 billion expected for 2017

Fredericia, Denmark - Based on preliminary and unaudited reporting, the energy company Orsted, expects an operating profit (EBITDA) of approx DKK 22.5 billion for 2017, which is an improvement on their most recent outlook of around DKK 21 billion.

The increase is primarily attributable to strong earnings from the Orsted offshore wind farms in operation in the last part of the year, including from stronger winds and faster ramp-up of generation from the new offshore wind farms Race Bank and Walney Extension.

According to Orsted, in addition, earnings from partnership agreements are better than expected due to good progress and lower costs on the construction contracts for Race Bank and Walney Extension.

Finally, earnings from the Orsted gas portfolio activities in Distribution & Customer Solutions are better than expected due to, among other things, a positive impact from the value of the gas in storage during the last part of the year.

Orsted will publish its annual report for 2017 on 1 February 2018.

Source: IWR Online, 23 Jan 2018