Q3 2019 Orsted A/S Earnings Call Transcript
Welcome to this Ãrsted AS Interim Report for the first 9 months of 2019. (Operator Instructions) Today's speakers are CEO, Henrik Poulsen; and CFO, Marianne Wiinholt.
Speakers, please begin.
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Thank you, and good morning, everyone. I will start out summarizing third quarter results, and then I'll cover the update on our long-term targets before ending up with an update on our projects and markets.
Our company continued its strong financial and strategic performance in the third quarter, where EBITDA amounted to DKK 4.1 billion. This was an increase of DKK 1.9 billion or 85% compared to same quarter last year. The increase in EBITDA was mainly driven by our offshore wind farms in operation, where we saw a year-on-year increase of 35%, driven by ramp-up in generation from Hornsea 1 and Borkum Riffgrund 2 as well as higher wind speeds.
We increased our full year EBITDA guidance with DKK 0.5 billion during the quarter as a
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