RCS - Orsted A/S - Guidance Update <Origin Href="QuoteRef">ORSTED.CO</Origin>

Oersted A/SAnnouncement

10/01/2018 08:10

RNS Number : 4592B
Orsted A/S
10 January 2018
Strong EBITDA of approx DKK 22.5 billion expected for 2017 

Based on our preliminary and unaudited reporting, we expect an operating profit (EBITDA) of approx DKK 22.5 billion for 2017, which is an improvement on our most recent outlook of around DKK 21 billion. 
The increase is primarily attributable to strong earnings from our offshore wind farms in operation in the last part of the year, including from stronger winds and faster ramp-up of generation from the new offshore wind farms Race Bank and Walney Extension. 
In addition, earnings from partnership agreements are better than expected due to good progress and lower costs on the construction contracts for Race Bank and Walney Extension.
Finally, earnings from our gas portfolio activities in Distribution & Customer Solutions are better than expected due to, among other things, a positive impact from the value of our gas in storage during the last part of the year. 
The information provided in this announcement does not change rsted's expected investment level for 2017.
rsted will publish its annual report for 2017 on 1 February 2018. 
Further information
Media Relations
Martin Barlebo
+45 99 55 95 52
Investor Relations
Henrik Brnniche Lund
+45 99 55 97 22 

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The company news service from the London Stock Exchange
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