Ørsted : Tough conditions for a promising player
>Q3 results slightly below expectations - Yesterday Ørsted reported Q3 2022 results below expectations. Adjusted EBITDA came to DKK 12,317m (vs ODDO BHF estimate: DKK 12,730m and consensus: DKK 12,746m), i.e. up 313% yoy. Adjusted EBIT reached DKK 9,787m vs DKK 1,045m in Q3 2021 (ODDO BHF estimate: DKK 10,330m and consensus: DKK 10,603m). The significant increase stemmed primarily from the capital gain on the sale of a 50% stake in the 1.3GW offshore windfarm Hornsea ...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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