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Ørsted upgrades expectations for earnings by DKK 1.5 billion

The wind division at Denmark's Ørsted is performing well. A rapid phasing in of offshore wind farms in the UK has now resulted in a forecast upgrade.

Photo: Ørsted PR

This early in the year, Ørsted is already announcing a strong annual result for 2017, according to a corporate statement Wednesday morning CET where the company is upgrading expectations for the full-year 2017 from around DKK 21 billion (EUR 2.8 billion) to EBITDA of approximately DKK 22.5 billion expected for 2017.

"Based on our preliminary and unaudited reporting, we expect an operating profit (EBITDA) of approx DKK 22.5 billion for 2017, which is an improvement on our most recent outlook of around DKK 21 billion. The increase is primarily attributable to strong earnings from our 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," writes Ørsted in the press release.

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