Wind firm Orsted first-quarter profit slightly lags forecast

FILE PHOTO: General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain September 5, 2018. REUTERS/Phil Noble - Copyright PHIL NOBLE(Reuters)

By Reuters

Published on 01/05/2019 - 08:34•Updated 11/05/2024 - 06:01

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COPENHAGEN (Reuters) - Orsted, the world's largest offshore wind developer, reported first-quarter profit a notch below expectations on Wednesday, but said profits from offshore wind farms in operations rose 13 percent compared to a year ago.

Its full-year earnings before interest, taxation, depreciation and amortization (EBITDA) fell by 7 percent to 5.1 billion Danish crowns (£587.7 million), slightly below an Eikon Refinitiv forecast of 5.2 billion crowns.