The Supervisory Board of DONG Energy A/S has today approved the interim financial report for the first half of 2008, which developed as follows compared with the first half of 2007:
"It was a satisfactory financial first half which, coupled with our market and price expectations for the second half, enables us to raise our full-year 2008 profit outlook," said CEO Anders Eldrup. He continued, "The sound results for the first half benefited from the fact that the effects of DONG Energy's investment in the Norwegian Ormen Lange gas field in 2005 are now feeding through. Conversely, earnings from power generation remain very low, being held back by high and rising coal and CO2 prices."
2008 profit outlook raised
EBITDA and profit after tax for 2008 are now expected to significantly outperform 2007, when EBITDA was DKK 9.6 billion and profit after tax DKK 3.3 billion. The outlook has been raised compared with the outlook expressed in connection with the interim financial report for the first quarter of 2008 on May 15, 2008, when EBITDA and profit after tax were expected to be on a par with 2007.
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