In connection with the presentation of the financial statements for the third
quarter of 2007, DONG Energy increased its forecast for 2007 to EBITDA of DKK
8.5 billion and profit after tax of DKK 2.6 billion.
Continued high oil prices and a general increase in the market prices of power
and gas throughout the fourth quarter have made us increase our forecasts for
the 2007 financial year.
We now forecast EBITDA of approximately DKK 8.8 billion and profit after tax of
DKK 2.8 billion.
Preliminary outlook for the 2008 financial year
DONG Energy's financial results are impacted by price developments in a number
of raw materials, including oil, gas, power and CO2 certificates, as well as
exchange rates, especially the US dollar.
The preliminary outlook for 2008 is based on the following assumptions:
• Crude oil: USD 70 per barrel
• TTF gashub price: EUR 20 per MWh
• Power (Nord Pool - system price): EUR 53 per MWh
• Coal (API2): USD 110 per ton
• CO2 certificates: EUR 22 per ton
• US dollar exchange rate: DKK 5.0 per USD
On the basis of the above-stated assumptions for raw materials, exchange rates
and other assumptions, we forecast EBITDA for 2008 at approximately DKK 9.7
billion. The profit after tax for 2008 is forecast at approximately DKK 3.3
These forecasts of the profit after tax are after taking account of the
recently completed divestment of the transmission network to Energinet.dk,
which is expected to generate a financial gain after tax of DKK 0.5 billion,
which will be recognised in the income statement for 2008.
For additional information, please contact:
Media Relations Investor Relations
Louise Münter Steen Juul Jensen
+45 6155 8771 +45 3057 8882