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Q1 2019 Orsted A/S Earnings Call Transcript
Welcome to the Ãrsted Interim Report for the first quarter 2019. (Operator Instructions) Today's speakers are CEO Henrik Poulsen; and CFO Marianne Wiinholt. Please begin your meeting.
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Thank you very much, and good morning, everyone, and welcome to this earnings call. Ãrsted has had a very good start to the year with continued strategic progress being made across the business as well as very solid results in line with our expectations. Our EBITDA for the first quarter of the year amounted to DKK 5.1 billion, which was a decrease of DKK 400 million compared to first quarter last year. The decrease in EBITDA, however, was expected and due to a positive outcome of a renegotiation in first quarter 2018 as well as cyclically lower earnings from our gas portfolio activities in customer solutions.
Earnings from our offshore wind farms in operation amounted to DKK 3.6 billion for the first quarter, a year-on-year increase of 13%, driven by ramp-up in
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