Ørsted Lowers Gross Investments Guidance By DKK 8 Bln
Nov 5 (Reuters) -Oersted A/S ORSTED.CO:
ØRSTED A/S DELIVERING ON BUSINESS PLAN WITH CFD AWARDS FOR HORNSEA 3 AND 4 IN THE UK, A SIGNIFICANT DIVESTMENT, AND BETTER THAN ASSUMED SETTLEMENTS FOR OCEAN WIND. SOLID 9M OPERATIONAL EARNINGS AND EBITDA GUIDANCE NARROWED
WE HAVE NARROWED OUR FULL-YEAR EBITDA GUIDANCE FROM DKK 23-26 BILLION TO DKK 24-26 BILLION
ØRSTED LOWERS GROSS INVESTMENTS GUIDANCE BY DKK 8 BILLION
Q3 EBITDA DKK 9,548 MILLION VERSUS DKK 9,173 MILLION YEAR AGO
Q3 IMPAIRMENT LOSSES DKK 284 MILLION VERSUS LOSSES OF DKK 28,422 MILLION YEAR AGO
WE CONTINUE TO SEE RISKS IMPACTING THE CONSTRUCTION FOR OUR US OFFSHORE PORTFOLIO
Q3 PROFIT FOR THE PERIOD DKK 5,169 MILLION VERSUS LOSS DKK 22,562 MILLION YEAR AGO
WE HAVE LOWERED OUR GROSS INVESTMENTS GUIDANCE BY DKK 8 BILLION TO DKK 36-40 BILLION DUE TO TIMING EFFECTS ACROSS OUR PROJECT PORTFOLIO
REVOLUTION WIND AND SUNRISE WIND, OUR TWO OFFSHORE WIND PROJECTS IN US, ARE PROGRESSING ACCORDING TO UPDATED CONSTRUCTION PLAN
WE ARE ON TRACK WITH OUR DIVESTMENT PROGRAMME, WHERE WE HAVE SIGNED AN AGREEMENT TO DIVEST A MINORITY SHARE IN FOUR UK ASSETS
WE HAVE SEEN RISKS IMPACTING CONSTRUCTION OF REVOLUTION WIND, AND WE ARE WORKING DILIGENTLY AND WITH A STRONG FOCUS TO DE-RISK CONTINUED PROJECT EXECUTION
Source text: ID:nEQ9JmJ1Ba
Further company coverage: ORSTED.CO
(Gdansk Newsroom)
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