Denmark: DONG Energy Announces Annual Report for 2011

The Board of Directors of DONG Energy has today approved the company’s annual report for 2011 with the following financial highlights and outlook:

— Revenue was up DKK 2.2 billion at DKK 56.8 billion.

— EBITDA was DKK 13.8 billion, in line with 2010 (DKK 14.1 billion).

— Profit for the year was DKK 2.9 billion, down DKK 1.6 billion on 2010, partly reflecting a lower gain on disposal of enterprises.

— Cash inflow from operating activities decreased by DKK 1.6 billion, to DKK 12.6 billion.

— Net investments were DKK 13.1 billion compared with DKK 8.5 billion in 2010, and related primarily to wind activities and oil and gas fields.

— Interest-bearing net debt increased by DKK 1.5 billion, amounting to DKK 23.6 billion at the end of the year.

— The Board of Directors recommends that a dividend of DKK 1.5 billion be paid to the shareholders.

CEO Anders Eldrup:

We delivered a solid performance in 2011, with EBITDA in line with 2010. Westill expect to double EBITDA in the period up to 2015 compared with 2009.

Outlook

In 2012, EBITDA is expected to be in line with 2011. From 2013, it is expected for EBITDA to significantly above the 2010-2012 level.

Dong energy will hold presentation in connection with the annual financial statements. The telephone conference for investors and analysts will be held on 12 March 2012
at 10.00 CET.

DONG Energy is one of the leading energy groups in Northern Europe. They are headquartered in Denmark. Their business is based on procuring, producing,
distributing and trading in energy and related products in Northern Europe. They have approximately 6,000 employees and generated DKK 57 billion (EUR 7.6
billion) in revenue in 2011.

[mappress]

Offshore WIND, March 09, 2012; Image: mansfieldmonk

 

 

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