High energy prices ensured strong results

| Source: Ørsted A/S Ørsted A/S

The Board of Directors of DONG Energy has today approved the interim financial report for the first half of 2011 with the following outlook and key performance indicators compared with the first half of 2010:

  • EBITDA was DKK 9.1 billion compared with DKK 8.4 billion in the first half of 2010. The increase was primarily due to higher energy prices and a positive effect from the renegotiation of gas contracts.
     
  • Operating cash inflow was DKK 6.8 billion compared with DKK 6.4 billion in the first half of 2010 due to the higher EBITDA, partly offset by an increase in tax paid.
     
  • Profit after tax was DKK 2.8 billion compared with DKK 3.5 billion in the first half of 2010. The decrease was mainly due to higher depreciation and an impairment loss on offshore gas pipelines.
     
  • Net investments were DKK 7.2 billion in the first half of 2011 and related primarily to development of wind activities and gas and oil fields.
     
  • Net interest-bearing debt increased by DKK 1.5 billion from the end of 2010 to DKK 23.6 billion at 30 June 2011.


Outlook
EBITDA for 2011 is still expected to be in line with 2010, matching the outlook in the 2010 annual report.

Anders Eldrup:”The first-half 2011 results are sound and satisfactory, providing the basis for affirming our full-year 2011 EBITDA outlook in line with the record year 2010.”


Telephone conference
A telephone conference for investors and analysts will be held today at 11.00 am CET.

Dial in numbers for the conference call:

Denmark: +45 32 71 47 67
International: +44 207 509 5139

The conference call can be followed live on the following address:
http://www.dongenergy.com/en/investor/presentations/pages/webcasts.aspx

Presentation slides will be available prior to the conference call on the
following address:
http://www.dongenergy.com/en/investor/presentations/pages/financial_presentations.aspx

See the interim report at: www.dongenergy.com/interimreports

DONG Energy is one of the leading energy groups in Northern Europe. We are headquartered in Denmark. Our business is based on procuring, producing, distributing and trading in energy and related products in Northern Europe. We have approximately 6,000 employees and generated DKK 55 billion (EUR 7.3 billion) in revenue in 2010. For further information, see www.dongenergy.com.

 

For additional information, please contact:

Media Relations
Helene Aagaard
+45 9955 9330

Investor Relations
Morten Hultberg Buchgreitz
+45 9955 9750

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