Interim financial report for H1 2015
Continued strong performance – Upwards adjustment of 2015 guidance
The Board of Directors of DONG Energy A/S today approved the interim financial report for H1 2015.
EBITDA was DKK 10.4 billion in H1 2015 compared with DKK 9.8 billion in H1 2014. This increase was due to a positive development in the underlying business as well as compensations, partly offset by divestment gains in 2014:
The positive development in operations relative to the same period last year can be ascribed to higher generation from offshore wind farms, completed renegotiation of an oil-indexed gas purchase contract and lower costs in the E&P business, partly offset by the fall in oil prices and lower oil and gas production from the Ormen Lange field as a result of a planned 42-day shutdown
In H1 2014, EBITDA was positively affected by a DKK 2.0 billion gain on the divestments of offshore wind farms, while H1 2015 was positively affected by a DKK 1.5 billion gain on the sale of E&P licence interests, two amounts of insurance compensation as well as the settlement of dispute from 2005 and 2006 concerning CO2 emissions allowances. ….