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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Orsted A/S    ORSTED   DK0060094928

ORSTED A/S

(ORSTED)
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Orsted A/S : Offshore wind firm Orsted beats third-quarter expectations

10/28/2020 | 02:27am EST

COPENHAGEN, Oct 28 (Reuters) - Danish energy group Orsted beat third-quarter profit expectations on Wednesday, but said offshore wind projects in the United States faced "significant" delays.

The world's largest offshore wind farm developer kept its full-year guidance for earnings before interest, tax, depreciation and amortisation (EBITDA) of 16-17 billion Danish crowns ($2.5-$2.7 billion).

"Despite the tenacious COVID-19 pandemic, our operations and financial performance in the third quarter remain stable and fully in line with our expectations from the beginning of the year," Chief Executive Henrik Poulsen said in a statement.

Quarterly EBITDA fell 18% to 3.36 billion crowns, compared with the 3.21 billion forecast by 14 analysts in a poll gathered by the company.

Orsted is investing heavily as it seeks to become one of a handful of "renewable majors" leading a shift away from fossil fuels.

But permits for upcoming offshore wind projects in the United States, its most important growth market, faced "significant" delays, it said.

($1 = 6.2952 Danish crowns) (Reporting by Tim Barsoe and Jacob Gronholt-Pedersen; Editing by David Goodman and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
KINNEVIK AB -1.41% 398.75 Delayed Quote.76.62%
ORSTED A/S -1.76% 1035.5 Delayed Quote.52.98%
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Financials
Sales 2020 60 191 M 9 806 M 9 806 M
Net income 2020 14 970 M 2 439 M 2 439 M
Net Debt 2020 19 722 M 3 213 M 3 213 M
P/E ratio 2020 27,8x
Yield 2020 1,09%
Capitalization 435 B 70 927 M 70 862 M
EV / Sales 2020 7,55x
EV / Sales 2021 7,65x
Nbr of Employees 6 120
Free-Float 44,8%
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Technical analysis trends ORSTED A/S
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 940,77 DKK
Last Close Price 1 035,50 DKK
Spread / Highest target 35,2%
Spread / Average Target -9,15%
Spread / Lowest Target -47,4%
EPS Revisions
Managers
NameTitle
Henrik Poulsen Chief Executive Officer
Thomas Thune Andersen Chairman
Marianne Wiinholt Chief Financial Officer
Benny Gøbel Non-Independent Director
Lene Skole-Sørensen Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
ORSTED A/S52.98%72 274
NEXTERA ENERGY19.79%143 698
ENEL S.P.A.16.08%101 375
IBERDROLA, S.A.22.00%83 826
DUKE ENERGY CORPORATION1.25%67 966
SOUTHERN COMPANY-2.86%65 360