DONG Energy's profit after tax almost tripled to 3,1bn kroner for the first nine months of 2010, compared with the results for the first nine months of 2009. Revenue was up 2,7bn kroner to 38,5bn kroner, reflecting higher energy prices and generation from new wind farms.
"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. 10bn kroner 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 DONG CEO Energy Anders Eldrup.
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 11-12bn kroner compared with the previously forecast level of 10 bn kroner. Net investments in 2011 are expected to amount to around 15bn kroner compared with the previously forecast level of between 10bn and 15bn kroner. For 2012 and 2013, annual net investments are expected to average max.15-20bn kroner.
"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. 10bn kroner 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 DONG CEO Energy Anders Eldrup.
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 11-12bn kroner compared with the previously forecast level of 10 bn kroner. Net investments in 2011 are expected to amount to around 15bn kroner compared with the previously forecast level of between 10bn and 15bn kroner. For 2012 and 2013, annual net investments are expected to average max.15-20bn kroner.