Oil & Gas segment presented as discontinuing operations in DONG Energy’s annual report for 2016
In connection with the interim report for the first nine months of 2016, DONG Energy announced that the company has initiated a process with the ultimate aim of divesting its activities within exploration and production of oil and gas. The activities are expected to be sold before the end of 2017, and the Oil & Gas segment is therefore presented as discontinuing operations in the financial statements for full-year 2016. This means that the profit for the year and cash flows of the Oil & Gas segment are presented separately from the Group’s continuing operations, and that the balance sheet items are presented as assets classified as held for sale. ….