Denmark's Orsted, the world's No. 1 offshore wind farm developer, on Wednesday reported first-quarter operating profit in line with expectations, and confirmed its full-year guidance given earlier in the year.
First-quarter earnings before interest, tax, depreciation and amortization (EBITDA) excluding new partnerships fell 12% to 6.91 billion Danish crowns ($1.02 billion), compared with the 6.9 billion expected by analysts in a poll gathered by the company. "We're pleased with the first-quarter results where our offshore sites earnings are back on track as the key driver (for operating profit)," Chief Executive Mads Nipper said in a statement.
"Furthermore, the construction of our current wind and solar assets is progressing according to plan," he said. Orsted kept its 2023 forecast for EBITDA excluding new partnerships unchanged at between 20 billion and 23 billion crowns.
(Reuters - Reporting by Jacob Gronholt-Pedersen, editing by Essi Lehto)