DONG Energy A/S generates electricity and heat, and supplies energy to residential and business customers. Its Wind Power segment develops, constructs, owns, and operates offshore wind farms in Denmark, the United Kingdom, Germany, the Netherlands, the United States, and Taiwan. The company's Bioenergy & Thermal Power segment engages in power and heat generation from combined heat and power plants in Denmark and a gas-fired power plant in the Netherlands. Its Distribution & Customer Solutions segment distributes and sells power and gas in the wholesale and retail markets in Denmark, Sweden, Germany, and the United Kingdom. DONG Energy A/S was founded in 1972 and is headquartered in Frederici...
Kraftværksvej 53 - Skærbæk
Founded in 1972
DONG Energy A/S Reports Earnings Results for the Second Quarter and First Half Year of 2017
Aug 10 17
DONG Energy A/S reported earnings results for the second quarter and first half year of 2017. For the quarter, EBITDA was DKK 4,442 million against DKK 2,615 million a year ago. Underlying EBITDA was DKK 4,442 million against DKK 2,615 million a year ago, due to higher earnings from ramp up of new offshore wind farms as well as high wind energy content. Profit for the period from cont. operations was DKK 2,506 million against DKK 673 million a year ago. Profit for the period was DKK 4,990 million against DKK 1,152 million a year ago. Cash flows used in operating activities was DKK 1,848 million against cash flows from operating activities of DKK 1,215 million a year ago. The decrease was primarily due to early settlement of intra-group hedging contracts related to the oil and gas business as well as more funds tied up in working capital due to a high level of construction activity on offshore wind farms. Negative free cash flow was DKK 5,975 million against DKK 1,171 million a year ago. Net interest-bearing debt was DKK 10,332 million against DKK 3,821 million a year ago.
For the first half, EBITDA was DKK 7,730 million against DKK 9,700 million a year ago. Underlying EBITDA was DKK 7,730 million against DKK 6,619 million a year ago. Profit for the period from cont. operations was DKK 3,720 million against DKK 5,653 million a year ago. Profit for the period was DKK 7,630 million against DKK 6,368 million a year ago. Cash flows from operating activities was DKK 960 million against cash flows used in operating activities of DKK 9,576 million a year ago. Negative free cash flow was DKK 7,524 million against free cash flow of DKK 5,908 million a year ago.
Dong Energy and Global Infrastructure Partners Enter into Partnership
Aug 8 17
DONG Energy and Global Infrastructure Partners (GIP) jointly announced that Global Infrastructure Partners III (GIP III), a fund managed by GIP, has entered into an agreement to acquire a 50% stake in the Borkum Riffgrund 2 Offshore Wind Farm project from DONG Energy for a total consideration of approximately EUR 1,170 million. Borkum Riffgrund 2 is a 450MW offshore wind project in the German North Sea, currently being constructed by DONG Energy. DONG Energy will provide a full-scope EPC (engineering, procurement and construction) contract for the construction of the project. In addition, DONG Energy will provide operation and maintenance services and a route to market for the power production.
Dong Energy A/S Provides EBITDA Guidance for the 2017
Aug 7 17
Dong Energy A/S Provides EBITDA Guidance for the 2017. For the 2017, the company expected EBITDA of DKK 17 billion to DKK 19 billion.