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DONG Energy’s profit tumbles in 2009

DONG Energy A/S saw a 77% tumble in net profit to DKK1.1 billion in 2009.

The tumble came as revenues fell 19% to DKK49.3bn. DONG Energy says the sharp falls were due to the financial crisis in 2009 and falling energy sales.

EBITDA amounted to DKK8.8bn, down 35%.

Total power generation fell 2% to 18.1 TWh, but renewable energy generation rose 9% and is now making up 16% of total power generation at DONG Energy.

2010 outlook

DONG Energy says it expects its EBITDA in 2010 to be “significantly ahead of 2009”. The power company projects investments of DKK 10bn in 2010, and DKK10-15bn in 2011.

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