Ørsted A/S
Ørsted expects EBITDA excluding new partnership agreements of DKK 21.1 billion for 2022. EBITDA guidance for 2023 of DKK 20-23 billion excluding new partnership agreements
Ørsted A/S (Orsted)
Ørsted presents operating profit (EBITDA) for 2022 based on preliminary and unaudited reporting. It has been a year with unusual market conditions, not least very volatile energy prices and a substantial increase in inflation. Despite this, we achieved 2022 results (EBITDA) within our latest guidance from 3 November 2022 and above our initial expectations for the year. EBITDA including new partnership agreements is expected to total DKK 32.1 billion in 2022, our highest EBITDA to date, of which the gain from the 50 % farm-downs of Hornsea 2 and Borkum Riffgrund 3 amounted to DKK 11.0 billion in total. EBITDA excluding new partnership agreements is expected to be DKK 21.1 billion, an increase of DKK 5.3 billion compared to 2021. We benefitted from our diverse portfolio and achieved significantly higher earnings from our onshore wind and solar PV business, our combined heat and power plants, and our gas activities than expected at the beginning of the year, while earnings in Offshore decreased. The unexpected decrease in Offshore was primarily due to adverse impacts from hedges, and delays at our Hornsea 2 and Greater Changhua 1 & 2a construction projects. Preliminary and unaudited EBITDA
Impairment of Sunrise Wind EBITDA outlook for 2023 Mads Nipper, Group President and CEO of Ørsted, says: We expect that earnings from our operational renewable energy assets will increase significantly in 2023 and contribute to reaching a Group EBITDA excluding new partnerships of DKK 20-23 billion, and we remain confident in our long-term financial estimates and growth ambitions.” Daniel Lerup, CFO of Ørsted, says: Presentation slides are available at https://orsted.com/q4-conference-call-presentation. Investor and analyst call Dial in numbers for the call: Denmark: +45 78 76 84 90 PIN: 994005 The investor and analyst call can be followed live at https://orsted-events.eventcdn.net/events/conference-call-january-2023 Press briefing Dial-in numbers for the press briefing: Denmark: +45 78 73 78 92 Passcode: Ørsted Ørsted will publish its annual report for 2022 on Wednesday, 1 February 2023.
Media Relations Investor Relations
AttachmentsNews Source: Ritzau |
ISIN: | DK0060094928 |
Category Code: | MSCM |
TIDM: | Orsted |
Sequence No.: | 217086 |
EQS News ID: | 1539617 |
End of Announcement | EQS News Service |