COPENHAGEN (dpa-AFX) - Ørsted A/S (DOGEF) Monday reported profit before tax of DKK 3.989 billion for the second quarter, compared with loss of DKK 575 million in the same period a year ago, primarily due to growth in revenue as well as lower impairment losses.
In the previous-year quarter, the company had recorded impairment losses of DKK 3.913 billion. This compares with the latest quarter's DKK 20 million euros.
Additionally, Ørsted said it plans to propose rights issue of up to DKK 60 billion.
Operating profit was DKK 4.189 billion compared with DKK 26 million loss last year.
EBITDA, or earnings before interest, taxes, depreciation, and amortization increased 1% to DKK 6.644 billion from DKK 6.570 billion in the prior year. Adjusted for new partnerships and cancellation fees, EBITDA increased by 1 % year-on-year to DKK 5.3 billion.
The company posted net profit of DKK 3.351 billion or DKK 7.3 per share versus net loss of DKK 1.678 billion or DKK 4.1 per share a year ago.
Revenue of the quarter increased 14% to DKK 17.135 billion from DKK 15.023 billion in the previous year.
For the full year, the company continues to expect EBITDA, excluding new partnerships and cancellation fees to be in the range of DKK 25 billion - DKK 28 billion.
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