Orsted AS (XTER:D2G)

€ 52.74 -0.16 (-0.3%) Market Cap: 22.08 Bil Enterprise Value: 30.57 Bil PE Ratio: 32.80 PB Ratio: 1.90 GF Score: 83/100

Q3 2024 Oersted A/S Earnings Call Transcript

Nov 05, 2024 / 01:00PM GMT

Release Date Price: €56.12 (-0.78%)

Transcript

Mads Nipper;S;Group President

Oersted A;Chief Executive Officer, Member of the Executive Board

/- -

Good morning. Good afternoon, everyone. And thank you for joining our earnings call during the third quarter, we have continued the progress of our business plan and achieved a number of significant milestones including CFD awards for 3.5 gigawatts in the UK, favorable contract settlements for ocean wind one and signing of a partnership agreement.

We continue to see solid operational performance across our fleet of assets and good overall progress on our construction projects. Though, we have seen some unexpected challenges impacting the construction of one of our us offshore projects looking at our finances for the third quarter. Our underlying business continues to perform well and our operational portfolio have delivered strong earnings.

EBITDA excluding new partnerships and cancellation fees totaled DKK 4.4 billion in Q3 of 24 and earnings from offshore sites amounted to DKK 4 billion.

The reported EBITDA for the first nine months

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