Today, Ørsted’s Board of Directors approved the annual report for 2020. Our operating profit (EBITDA) amounted to
Earnings from offshore and onshore wind farms in operation increased by 14 % to
We closed the divestment of our Danish power distribution, residential customer, and city light businesses. The transaction resulted in proceeds of
Net profit amounted to
Our green share of heat and power generation continued to increase and reached an all-time high of 90 % in 2020, driven by continued ramp-up of our offshore and onshore wind farms.
The Board of Directors recommends a dividend of
“Ørsted delivered a strong set of results in 2020, both operationally and financially. Despite the challenges posed by COVID-19, our colleagues have done an outstanding job to keep our energy production assets fully operational at normal availability rates. During 2020, we’ve also commissioned five new wind farms and managed to move our construction projects forward. This demonstrates the resilience of our business model and the skills and spirit of our people. Safety continues to remain our key priority, and we continue to do our utmost to keep our colleagues safe across our locations.
In
I am grateful for the support and professionalism of our customers and partners. I am keenly aware that only together, we can do great things and move towards our vision of a world that runs entirely on green energy.”
Financial key figures for Q4 2020 and FY 2020:
DKK million | Q4 2020 | Q4 2019 | % | 2020 | 2019 | % | |||||||
EBITDA | 5,003 | 4,613 | 8 % | 18,124 | 17,484 | 4 % | |||||||
Profit (loss) for the year from cont. operations | 2,174 | 925 | 135 % | 16,727 | 6,100 | 174 % | |||||||
Profit (loss) for the year from discont. operations | 15 | (29) | n.a. | (11) | (56) | (80 %) | |||||||
Profit (loss) for the year | 2,189 | 896 | 144 % | 16,716 | 6,044 | 177 % | |||||||
Cash flows from operating activities | 6,756 | 4,816 | 40 % | 16,466 | 13,079 | 26 % | |||||||
Gross investments | (8,639) | (8,816) | (2 %) | (26,967) | (23,305) | 16 % | |||||||
Divestments | (1,519) | 402 | n.a. | 19,039 | 3,329 | 472 % | |||||||
Free cash flow | (3,402) | (3,598) | (5 %) | 8,538 | (6,897) | n.a. | |||||||
Net interest-bearing debt | 12,343 | 17,230 | (28 %) | 12,343 | 17,230 | (28 %) | |||||||
FFO/adjusted net debt | 48 % | 31 % | 17 %p | 48 % | 31 % | 17 %p | |||||||
ROCE | 10 % | 11 % | (1 %p) | 10 % | 11 % | (1 %p) |
Outlook 2021
On
Gross investments for 2021 are expected to amount to
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 annual report, an earnings call for investors and analysts will be held on Wednesday,
The earnings call can be followed live at:
https://edge.media-server.com/mmc/p/fi48sxzy
Presentation slides will be available prior to the earnings call at:
www.orsted.com/en/investors/ir-material/financial-reports-and-presentations#0
The annual 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
- Annual report 2020_Company announcement
- Annual report 2020_Investor presentation
- Annual report 2020
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