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
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
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)