REG-Ørsted A/S CORRECTION: Interim report for the first quarter of 2023. The below company announcement has been corrected in the financial key figures for Q1 2023. Profit for the period has been updated with correct numbers.
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Ørsted A/S (Orsted)
CORRECTION: Interim report for the first quarter of 2023. The below
company announcement has been corrected in the financial key figures for
Q1 2023. Profit for the period has been updated with correct numbers.
03-May-2023 / 08:58 CET/CEST
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3.5.2023 08:58:21 CEST | Ørsted A/S | Quarterly report
Interim report for the first quarter of 2023 – strong start to the year
with all-time high earnings from offshore sites and final investment
decision on Greater Changhua 2b and 4
Today, Ørsted’s Board of Directors approved the interim report for the
first quarter of 2023.
Operating profit (EBITDA) for the first quarter was in line with our
expectations and amounted to DKK 6.9 billion.
Earnings from our wind and solar assets in operation amounted to DKK 6.9
billion, which was an increase of DKK 2.2 billion compared to the same
period last year.
Net profit amounted to DKK 3.2 billion, and return on capital employed
(ROCE) came in at 14 %.
We maintain our EBITDA guidance of DKK 20-23 billion excluding earnings
from new partnerships during the year. We also maintain our gross
investment guidance of DKK 50-54 billion.
Mads Nipper, Group President and CEO of Ørsted, says in a comment to the
interim financial report for the first quarter of 2023:
“We're pleased with the Q1 2023 results where our offshore sites earnings
are back on track as the key EBITDA driver. Furthermore, the construction
of our current wind and solar assets is progressing according to plan.
Among significant strategic milestones during the quarter, we took FID on
our Greater Changhua 2b and 4 offshore wind farms in Taiwan with a total
capacity of 920 MW. We expect to start onshore construction this year with
commissioning by the end of 2025. Greater Changhua 2b and 4 have a robust
business case, which will create long-term value for Ørsted.
Our 100 MW Salamander project, a joint venture between Simply Blue Group,
Subsea 7, and Ørsted, won a Scottish floating wind lease and is a tangible
step to making floating wind a reality. We also acquired the 160 MW
early-stage Irish solar development project Garreenleen, which will bring
our Irish portfolio to a total capacity of 576 MW.”
Financial key figures for Q1 2023:
DKK million Q1 2023 Q1 2022 %
EBITDA 6,910 9,429 (27 %)
- New partnerships 0 1,610 n.a.
- EBITDA excl. new partnerships 6,910 7,819 (12 %)
Profit (loss) for the period 3,202 5,701 (44 %)
Cash flow from operating activities 10,119 (37) n.a.
Gross investments (8,768) (6,832) 28 %
Divestments (16) 1,927 n.a.
Free cash flow 1,335 (4,942) n.a.
Net interest-bearing debt 35,261 30,026 17 %
FFO/adjusted net debt 37.4 % 37.5 % 0 %
ROCE 13.8 % 19.0 % (5 %p)
Earnings call
In connection with the presentation of the interim report for the first
quarter, an earnings call for investors and analysts will be held on
Wednesday, 3 May 2023 at 14:00 CEST.
Denmark: +45 78 76 84 90
International: +44 203 769 6819
USA: +1 646 787 0157
PIN: 994005
The earnings call can be followed live at:
1 https://orsted-events.eventcdn.net/events/interim-report-Q1-2023
Presentation slides will be available prior to the earnings call at:
2 Investors | Ørsted (orsted.com)
The interim report is available for download at:
3 https://orsted.com/financial-reports
For further information, please contact:
Media Relations
Martin Barlebo
+45 99 55 95 52
Investor Relations
Rasmus Keglberg Hærvig
+45 99 55 90 95
4 ir@orsted.com
About Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted
develops, constructs, and operates offshore and onshore wind farms, solar
farms, energy storage facilities, renewable hydrogen and green fuels
facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate
Change A List as a global leader on climate action and was the first
energy company in the world to have its science-based net-zero emissions
target validated by the Science Based Targets initiative (SBTi).
Headquartered in Denmark, Ørsted employs approx. 8,000 people. Ørsted's
shares are listed on Nasdaq Copenhagen (Orsted). In 2022, the group's
revenue was DKK 132.3 billion (EUR 17.8 billion). Visit 5 orsted.com or
follow us on Facebook, LinkedIn, Instagram, and Twitter.
Attachments
• 6 CORRECTION - Interim report for the first quarter of 2023.pdf
• 7 Ørsted - Investor presentation Q1 2023.pdf
• 8 Interim financial report Q1 2023.pdf
News Source: Ritzau
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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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ISIN: DK0060094928
Category Code: QRF
TIDM: Orsted
Sequence No.: 240864
EQS News ID: 1622751
End of Announcement EQS News Service
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