Power generation overall increased 8% from 9M 2009 to 13.7 TWh, and wind and hydro accounted for 20% of total power generation in the first 9 months.
Net profit for DONG Energy nearly tripled to DKK3.1 billion as revenues rose 7.5% to DKK35.8bn. EBIT almost doubled to DKK5.8bn.
Ander Eldrup, CEO of DONG Energy, says: “We are able to report strong results for the first 9 months of 2010. The improved results reflect higher energy prices, generation from new wind farms, and cost reductions.
“DONG Energy made investments of approximately DKK10bn in the first 9 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.”
For the full year, DONG Energy expects its EBTIDA to be “at a higher level than previously forecast.” Net investments are expected to reach DKK11-12bn, compared to the previous estimate of DKK10bn.
In 2011, the company expects net investments to reach around DKK15bn (previously DKK10-15bn), and for 2012 and 2013, net investments are forecast to average at a maximum of DKK15-20bn annually.
Power and heat generation revenue
- Thermal power: DKK5.2bn, +2.9%
- Thermal heat: DKK1.7bn, +19.7%
- Wind and hydro: DKK2.1bn, +105%
- Other: DKK 795 million, -17.2%