Der Energie- und Windkraftkonzerns Dong mit Sitz in Hamburg, plant große Offshore-Projekte in der Nordseeregion.
DONG Energy veröffentlicht Zahlen für das erste Quartal des Geschäftsjahres 2014
(WK-intern) – The Board of Directors of DONG Energy A/S today approved the interim financial report for Q1 2014 / 2014 outlook .
- EBITDA was DKK 6.3 billion in Q1 2014 compared with DKK 4.6 billion in Q1 2013. The increase relative to the same period last year was due to higher earnings from wind activities, higher production in Exploration & Production, lower costs as well as a gain from the divestment of 50% of DONG Energy’s ownership interest in the UK offshore wind farm London Array. The positive trends were partly offset by decreasing earnings in Thermal Power, due to warm and windy weather, and in Customers & Markets, due to lower gas sales and falling gas prices
- Net profit was DKK 1.6 billion, up DKK 1.1 billion on Q1 2013, primarily reflecting the higher EBITDA
- Cash flows from operating activities increased to DKK 4.5 billion from DKK 2.2 billion in Q1 2013, mainly driven by the improved operating profit
- Gross investments totalled DKK 3.8 billion, mainly related to offshore wind activities and oil and gas fields
- Divestments amounted to DKK 6.2 billion in Q1 2014, primarily relating to the ownership interest in London Array
- Interest-bearing net debt decreased by DKK 19.4 billion from the end of 2013 to DKK 6.4 billion at the end of March 2014. The equity increase and divestments contributed DKK 18.9 billion
- The capital structure ratio funds from operation (FFO) relative to adjusted net debt (rolling 12 months) was 44% at the end of Q1 2014 compared with 23% for the 2013 calendar year. The improvement was due to higher EBITDA and the low net debt at the end of March 2014. Net debt will, however, rise again, along with the continued investments in offshore wind farms and oil and gas fields, resulting in a normalisation of the key ratio
- ROCE (rolling 12 months) was 2.0% compared with -6.7% at the end of Q1 2013. Adjusted for impairment losses and for provisions for onerous contracts, ROCE would have been 7.8% and 0.7%, respectively, in the two periods.
The outlook in the 2013 annual report is reaffirmed:
- Business performance EBITDA for 2014 is expected to amount to DKK 15-17 billion
- Net investments of around DKK 30 billion are expected for the period 2014-2015
- • Funds from operation (FFO) relative to adjusted net debt are expected to be around 25% in 2014.