With effect from year end 2010, the reporting segment Generation will be split into two separate reporting segments – Renewables and Generation. The separation reflects the different strategies of the two business segments.
Making Renewables a separate reporting segment strengthens the organisational focus in DONG Energy’s transition to a greener future. For Generation, comprising the thermal operations and new biomass solutions, the separation intensifies the focus on efficient operations. Both business units will remain under the leadership of Niels Bergh-Hansen, Executive Vice President.
Financial reporting for the full year 2010 and onwards will be based on the new organisational structure. Historical figures based on the new reporting segments are found below and will be made available on www.dongenergy.com
As part of the separation into two reporting segments, joint overhead costs previously allocated to the thermal operations have been reallocated to the renewable activities. Hence, historical EBITDA for Renewables have been reduced by around DKK 100m for the years 2008 and 2009 as well as for the first nine month of 2010. Correspondingly EBITDA for Generation during the same period has been increased by the same amounts.
The information provided in this announcement does not change the previous financial guidance for the financial year 2010 or the announced expected investment level.
For further information, please contact:
+45 9955 2023
Morten Hultberg Buchgreitz
+45 9955 9750
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.