DONG Energy Q2 EBITDA higher than expected
DENMARK’S DONG ENERGY
* DONG ENERGY Q2 EBITDA 4.4 BILLION DKK VERSUS 3.4 BILLION SEEN IN REUTERS POLL
* SAYS OUTLOOK FOR GROSS INVESTMENTS IS UNCHANGED RELATIVE TO ANNUAL REPORT FOR 2016 AND IS STILL EXPECTED TO AMOUNT TO DKK 18-20 BILLION
* SAYS ON 7 AUGUST 2017, WE RAISED OUR EBITDA GUIDANCE (BUSINESS PERFORMANCE) FROM DKK 15-17 BILLION TO DKK 17-19 BILLION. THIS CORRESPONDS TO AN UNDERLYING GROWTH OF 18-32%
* SAYS ANY EXCESS FINANCIAL HEADROOM WILL BE RETURNED TO SHAREHOLDERS IN A DISCIPLINED MANNER THROUGH INCREASED ANNUAL DIVIDENDS AND/OR SHARE BUYBACKS
* SAYS AFTER FARM DOWN OF BORKUM RIFFGRUND 2 AND EXPECTED FARM DOWNS OF WALNEY EXTENSION AND HORNSEA 1, WE WILL ONLY CONSIDER FARM DOWNS SUBJECT TO SUBSTANTIAL VALUE CREATION AND RISK DIVERSIFICATION
* SAYS WITHIN ONE TO TWO YEARS WE WILL LIKELY HAVE EXCESS INVESTMENT CAPACITY
* SAYS VALUE-ENHANCING, GREEN GROWTH OPPORTUNITIES BEYOND CURRENT INVESTMENT PLAN WILL THUS BE EXPLORED AGAINST TIGHT STRATEGIC AND FINANCIAL CRITERIA
* SAYS THIS COULD NATURALLY INCLUDE ADDITIONAL OPPORTUNITIES WITHIN OFFSHORE WIND – WHICH REMAINS OUR CORE FOCUS – AS WELL AS OTHER RENEWABLE TECHNOLOGIES AND WITHIN OUR DOWNSTREAM, CUSTOMER-FACING BUSINESS
* SAYS WE EXPECT TO SUBMIT A BID IN UK AUCTION FOR HORNSEA 2 PROJECT ON 14 AUGUST, AND WE EXPECT TO KNOW OUTCOME OF AUCTION IN SEPTEMBER
* SAYS DEADLINE FOR SUBMITTING BIDS IN AUCTION IN MASSACHUSETTS, USA, IS IN SECOND HALF OF DECEMBER THIS YEAR, AND WE EXPECT TO KNOW OUTCOME OF THIS AUCTION IN MID-2018 AT LATEST
* SAYS WE EXPECT TO COMMISSION FIRST COMMERCIAL RENESCIENCE PLANT IN NORTHWICH IN UK, TURNING UNSORTED WASTE INTO GREEN ENERGY AND RECYCLABLE MATERIALS.
Source: Reuters
