DONG Energy Briefs 2009 Financial Results
The Supervisory Board of DONG Energy A/S approved of the company's annual report for 2009.
DONG Energy's activities and financial performance in 2009 were affected by the financial crisis. However, taking a longer-term view, 2009 was also a year of vital strategic decision-making that will ensure that DONG Energy will lead the transition to a greener future.
DONG Energy invested DKK 18 billion in 2009, predominantly in offshore wind farms, development of natural gas and oil fields and natural gas-fired power stations.
Given the tough market conditions, EBITDA is considered to be satisfactory. Furthermore, DONG Energy succeeded in maintaining strong cash flows from operating activities.
- Revenue was down 19% at just under DKK 50 billion as a result of lower prices, partly offset by higher natural gas production
- EBITDA was down DKK 4.8 billion, at DKK 8.8 billion, reflecting lower natural gas and oil prices as well as timing differences relating to natural gas and coal
- Profit for the year was DKK 1.1 billion compared with DKK 4.8 billion in 2008
- Cash flow from operating activities was DKK 9.5 billion compared with DKK 10.4 billion in 2008.
EBITDA in 2010 is expected to be significantly ahead of 2009.
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