EnergyWatch

Ørsted upgrades guidance

Earnings surged at Ørsted, which is enjoying several new wind farms and a renegotiated gas purchasing contract.

Photo: Mathias Ørsborg Johansen

Ørsted emerged from the first quarter with an EBITDA result of DKK 5.5 billion (EUR 738 million), which is 68 percent more than in 2017. Meanwhile, the group increased its stake of renewable energy from 56 percent in the first quarter last year to 68 percent in the first quarter 2018.

The higher stake in renewable energy, which mainly stems from the launch of operations at offshore wind farms, generates solid earnings for the Danish utility Ørsted, which is therefore upgrading guidance for the full year by DKK 500 million.

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