Dong Energy, which hit the stock market only in the summer of this year, has lifted its profit guidance for 2016.
The Danish group said it thinks it will make an operating profit of DKr24bn (€3.23bn) to DKr25bn this year, up from a previous range of DKr20bn to DKr23bn, triggered by an agreement to sell half of Race Bank, a UK offshore wind farm project, to Macquarie. It has also been helped by a “strong performance” and cost cuts in its oil and gas division.
CEO Henrik Poulsen said:
We have had a really good year in DONG Energy and made significant strategic and operational progress in all business units. We have continued the green transformation and seen significant growth in our operating profit. All business units have delivered better than expected or to the high end of our expectations, and the divestment of 50% of the Race Bank Offshore Wind Farm has triggered the increase in our EBITDA guidance.