Ørsted A/S (DNNGY) Q1 2023 Earnings Call Transcript

Ørsted A/S (OTCPK:DNNGY) Q1 2023 Earnings Convention Name Could 4, 2023 8:00 AM ET

Firm Members

Mads Nipper – Group President and CEO

Daniel Lerup – CFO

Convention Name Members

Kristian Johansen – SEB

Alberto Gandolfi – Goldman Sachs

Peter Bisztyga – Financial institution of America

Casper Blom – Danske Financial institution

Harry Wyburd – Exane

Lars Heindorff – Nordea

Samuel Arie – UBS

Deepa Venkateswaran – Bernstein

Robert Pulleyn – Morgan Stanley

Mark Freshney – Credit score Suisse

Dominic Nash – Barclays

David Paz – Wolf Analysis

Louis Boujard – ODDO

Klaus Kehl – Nykredit

James Model – Deutsche Financial institution

Casper Blom – Danske Financial institution

Operator

Welcome to this Orsted interim report for the primary quarter of 2023. For the primary a part of this name, all individuals might be in listen-only-mode, and afterwards, there might be a question-and-answer session. At present’s speaker is Group President and CEO; Mads Nipper and CFO, Daniel Lerupp. Audio system, please start.

Mads Nipper

Thanks very a lot, and welcome to this name. I am more than happy with the monetary outcomes of the primary quarter. Within the quarter, we realized all-time excessive earnings from our offshore websites and the group’s monetary efficiency was in keeping with our expectations. In the course of the first quarter, we made good progress on our technique, and I will begin with highlighting the ultimate funding determination for our 920-megawatt Taiwanese venture, Larger Changhua 2b and 4. I am extraordinarily pleased with this achievement, which as soon as once more demonstrates the truth that Orsted is primed and able to construct and function large-scale offshore wind tasks in Taiwan. Our expertise in Asia Pacific, mixed with our technical experience, monetary capabilities and shut collaboration with stakeholders kind a sturdy enterprise case which can create long-term worth. The grid capability of the venture was awarded again in June 2018 in Taiwan’s first aggressive price-based public sale with no necessary native content material necessities.

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