The Board of Directors of DONG Energy A/S has today approved the interim
financial report for the first nine months of 2010, which developed as follows
compared with the results for the first nine months of 2009:
Revenue was up DKK 2,699 million at DKK 38,490 million. EBITDA was up DKK 3,202
million at DKK 10,032 million, reflecting higher energy prices and generation
from new wind farms. Furthermore, EBITDA in 2009 was negatively impacted by the
effects of timing differences. Profit after tax almost tripled to DKK 3,091
million.
EBITDA for 2010 is expected to be at a higher level than previously forecast.
Fourth-quarter EBITDA is expected to be positive, but lower than the quarterly
average in the first nine months of 2010. Adjusted net debt is still expected
to amount to around three times cash flows from operating activities in 2010
Net investments for 2010 are expected to amount to DKK 11-12 billion compared
with the previously forecast level of DKK 10 billion. Net investments in 2011
are expected to amount to around DKK 15 billion compared with the previously
forecast level of between DKK 10 billion and DKK 15 billion. For 2012 and 2013,
annual net investments are expected to average max. DKK 15-20 billion.
"We are able to report strong results for the first nine months of 2010. The
improved results reflect higher energy prices, generation from new wind farms,
and cost reductions. DONG Energy made investments of approx. DKK 10 billion in
the first nine months of the year, and is making speedy progress in the
transition towards a greener company. Based on planned investments, our
objective is to be able to double EBITDA in the period between 2009 and 2015",
says CEO Anders Eldrup.
A telephone conference for investors and analysts will be held on
Thursday 11 November at 11.00am CET:
DK +45 3271 4767
International +44 (0) 207 509 5139
The material for the conference will be available prior to the presentation at
the following address:
http://www.dongenergy.com/EN/Investor/presentations/
See the interim report here: www.dongenergy.com/interimreports
For further information, contact:
Media Relations
Louise Münter
+45 9955 9662
Investor Relations
Morten Hultberg Buchgreitz
+45 9955 9686
DONG Energy is one of the leading energy groups in Northern Europe. We are
headquartered in Denmark. Our business is based on procuring, producing,
distributing and trading in energy and related products in Northern Europe. We
have approximately 6,000 employees and generated just under DKK 50 billion (EUR
6.6 billion) in revenue in 2009. For further information, see
www.dongenergy.com.