Today, Ørsted’s Board of Directors approved the interim report for the first quarter of 2021.
Our operating profit (EBITDA) for the first quarter of the year amounted to
The operational performance of the Group was good during Q1 2021, slightly exceeding our expectations. Our availability rates have been solid, we have seen higher than expected performance from our CHP plants, and we have achieved additional earnings from finalised construction projects.
Earnings from our offshore and onshore wind farms in operation were in line with the same period last year. More wind farms in operation were offset by significantly lower wind speeds across our offshore portfolio.
Our operations and financial performance continued to remain solid despite the COVID-19 pandemic, and we maintain our full-year EBITDA guidance of
We also reiterate our current full-year gross investment expectation of
Net profit amounted to
“Ørsted’s operational performance was good during Q1 2021 and slightly exceeded our expectations, and we’ve reached multiple strategic milestones. In our Offshore business, the Polish Baltica 2 & 3 projects with a total capacity of up to 2.5 GW were awarded contracts for difference and we’ve entered a new partnership in the Baltic States. We also signed an agreement to farm down 50 % of Borssele 1 & 2. In our Onshore business, we’ve made a strategic acquisition in
Financial key figures for Q1 2021:
DKK million | Q1 2021 | Q1 2020 | % |
EBITDA | 4,863 | 6,805 | (29 %) |
Profit (loss) for the period | 1,598 | 3,318 | (52 %) |
Cash flows from operating activities | 8,087 | (428) | n.a. |
Gross investments | (6,665) | (5,308) | 26 % |
Divestments | (31) | 7 | n.a. |
Free cash flow | 1,391 | (5,729) | n.a. |
Net interest-bearing debt | 13,190 | 27,084 | (51 %) |
FFO/adjusted net debt | 45 % | 21 % | 24 %p |
ROCE | 7 % | 11 % | (4 %p) |
For further information, please contact:
Media Relations Investor Relations
Martin Barlebo Allan Bødskov Andersen
+45 99 55 95 52 +45 99 55 79 96
Earnings call
In connection with the presentation of the interim report, an earnings call for investors and analysts will be held on Thursday,
The earnings call can be followed live at:
https://edge.media-server.com/mmc/p/33swwkbd
Presentation slides will be available prior to the earnings call at:
www.orsted.com/en/investors/ir-material/financial-reports-and-presentations#0
The interim report is available for download at:
www.orsted.com/en/investors/ir-material/financial-reports-and-presentations#0
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks as the world’s most sustainable energy company in
Attachments
- Company announcement_Interim report for the first quarter of 2021
- Interim financial report Q1 2021
- Ørsted - Q1 2021 - Investor presentation
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