RCS - DONG Energy A/S - DONG Energy increases guidance for 2016 <Origin Href="QuoteRef">DENERG.CO</Origin>

Oersted A/SAnnouncement

21/12/2016 13:30

RNS Number : 5001S
DONG Energy A/S
21 December 2016
DONG Energy
21 December 2016
DONG Energy increases guidance for 2016
DONG Energy increases its Group operating profit (EBITDA) guidance to DKK24-25bn from a previous range of DKK20-23bn for 2016.
Wind Power is now expected to report EBITDA towards the high end of the DKK 10-12bn range.
The company also specifies its gross investments towards the lower end of the guided range of DKK18-21bn.
The increased guidance is triggered by the realisation of the farm-down of 50% of the offshore wind farm Race Bank. Further the increase is driven by strong operational performance and cost reductions in Oil & Gas, combined with results better-than-expected from both renegotiations of gas contracts and from operations in Distribution & Customer Solutions.
Henrik Poulsen, DONG Energy's CEO, says:
"We have had a really good year in DONG Energy and made significant strategic and operational progress in all business units. We have continued the green transformation and seen significant growth in our operating profit. All business units have delivered better than expected or to the high end of our expectations, and the divestment of 50% of the Race Bank Offshore Wind Farm has triggered the increase in our EBITDA guidance."
For additional information, please contact:
Media Relations
Ulrik Frhlke
+45 9955 9560
Investor Relations
Henrik Brnniche Lund
+ 45 9955 9722
hebrl@dongenergy.dk

This information is provided by RNS
The company news service from the London Stock Exchange
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