EnergyWatch

Dong's wind business slowed by weakened activity

Dong Energy suffered setbacks, excluding divestments, on both the top and bottom line in the first quarter. The energy giant attributes it to less activity in construction contract work, while maintaining its full-year projections.

Dong's key division Wind Power declined in the first quarter across most crucial parameters. Revenue dropped by 19 percent down to DKK 4,678 million while the result plunged 26 percent to DKK 2,139 million (EUR 287.5 million) EBITDA and 41 percent to DKK 1,233 million EBIT, shows the energy company's interim report.

The result is much lower than analyst expectations. According to estimates compiled by Ritzau, revenue was projected to land at DKK 5.9 billion with a result of around DKK 3.2 billion EBITDA. This is an approximate 33 percent over the earnings actually delivered.

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