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    ORSTED   DK0060094928

ORSTED A/S

(ORSTED)
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Orsted Plans $57.5 Billion Investments to Become Green Energy Major

06/02/2021 | 08:08am EDT

By Dominic Chopping

Danish renewable energy developer Orsted A/S said Wednesday that it plans to invest around 350 billion Danish kroner ($57.5 billion) between 2020 and 2027 to become a green energy major.

The company said the investments will help accelerate its build-out of renewable energy, taking advantage of the global green energy transition, and will see its installed capacity more than quadruple to around 50 gigawatts of installed renewable capacity by 2030 from 12 gigawatts presently.

Orsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, bioenergy plants, and provides energy products to its customers. With the newly announced investments, it seeks to grow its position within offshore and onshore wind, solar and sustainable biomass, while growing capabilities to become a leader in renewable hydrogen.

"Our aspiration is to become the world's leading green energy major by 2030," Orsted Chief Executive Mads Nipper said in a statement ahead of the company's capital markets day.

Between 2020 and 2027, Orsted said it expects growth in operating profit from offshore and onshore assets in operation of around 12% a year on average, reaching a level of DKK35 billion-DKK40 billion in 2027.

The company's dividend policy, to increase the annual dividend by a high single-digit percentage until 2025, remains unchanged, it added.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

06-02-21 0807ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.21% 33874.24 Delayed Quote.10.91%
ORSTED A/S -1.18% 857.8 Delayed Quote.-30.20%
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Financials
Sales 2021 57 491 M 9 245 M 9 245 M
Net income 2021 11 950 M 1 922 M 1 922 M
Net Debt 2021 19 784 M 3 182 M 3 182 M
P/E ratio 2021 30,7x
Yield 2021 1,43%
Capitalization 365 B 58 574 M 58 636 M
EV / Sales 2021 6,69x
EV / Sales 2022 6,61x
Nbr of Employees 6 311
Free-Float 44,8%
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Technical analysis trends ORSTED A/S
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 868,00 DKK
Average target price 1 012,88 DKK
Spread / Average Target 16,7%
EPS Revisions
Managers and Directors
NameTitle
Mads Nipper Group President & Chief Executive Officer
Marianne Wiinholt Chief Financial Officer
Thomas Thune Andersen Chairman
Richard Hunter Chief Operating Officer
Lene Skole-S°rensen Deputy Chairman
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