Ørsted : Still no light at the end of the tunnel
>Q2 earnings undershot our expectations and those of the consensus - Yesterday Ørsted published Q2 2023 results which came in below expectations. Adjusted EBITDA declined by 8% year-on-year to DKK 3,320m (vs DKK 3,900m expected by ODDO BHF and € 3,813m by consensus) and adjusted EBIT amounted to DKK 866m (-34% y-o-y ) vs DKK 1,400m forecast by ODDO BHF and DKK 1,342m by the consensus. By division, Offshore adjusted EBITDA increased sharply (+56% y-o-y) to DKK 2,979m v...Orsted is a renewable energy company based in Denmark. Co. is engaged in developing a renewables portfolio based on competences in offshore wind, bioenergy, and energy solutions. Co. is active in deploying offshore wind and converting existing coal- and gas-fired power stations to sustainable biomass, providing a heat and power supply which is both green and flexible. Co. divides its operations into four businesses: Wind Power, Bioenergy & Thermal Power, and Distribution & Customer Solutions. The Bioenergy & Thermal Power and Distribution & Customer Solutions businesses jointly constitute Co.'s Danish utility business. Co. maintains activities primarily in Northwestern Europe.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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