Profit (loss) for the period from continuing operations
6,100
19,486
13,279
12,161
967
1,901
693
(809)
3,346
925
1,443
1,093
2,639
15,160
418
876
3,032
9,350
209
2,506
1,214
3,988
2,520
673
4,980
(315)
(62)
956
387
Profit (loss) for the period from discontinued operations
(56)
10
6,920
1,052
(13,051)
(7,185)
(1,686)
(16)
(28)
(29)
34
(18)
(43)
34
(13)
(19)
8
79
2,931
2,484
1,426
(473)
811
478
236
(15,004)
520
77
1,357
Profit (loss) for the period
6,044
19,496
20,199
13,213
(12,084)
(5,284)
(993)
(825)
3,318
896
1,477
1,075
2,596
15,194
405
857
3,040
9,429
3,140
4,990
2,640
3,515
3,331
1,151
5,216
(15,319)
458
1,033
1,744
1 Last 12 months' figures 2 Reportable segments are reorganised as of November 2019. 2018 and 2019 figures are restated.
Balance sheet highlights
Consolidated financial highlights
Balance Sheet
DKKm
FY 2019
FY 20182
FY 2017
FY 2016
FY 2015
FY 2014
FY 2013
Q2 2020
Q1 2020
Q4 2019
Q3 20192
Q2 20192
Q1 20192
Q4 20182
Q3 20182
Q2 20182
Q1 20182
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Balance sheet
Assets
192,860
174,575
146,521
136,489
147,457
149,914
145,672
193,124
193,636
192,860
194,521
185,949
182,783
174,575
150,909
149,149
147,739
146,521
126,190
133,550
132,030
136,489
141,197
140,700
155,915
147,457
157,663
155,073
160,346
Additions to property, plant and equipment
22,440
14,436
20,022
17,750
19,843
15,350
19,437
10,011
4,833
6,560
8,449
3,755
3,676
4,575
2,942
3,137
3,782
7,137
4,795
5,475
2,615
4,378
5,168
3,037
5,167
4,033
4,471
4,897
6,442
Interest-bearing assets
26,198
30,539
31,153
21,675
27,986
32,735
20,657
20,180
19,077
16,298
32,822
33,965
28,583
30,539
24,119
29,372
29,141
31,153
12,520
13,345
18,258
21,675
23,279
25,488
35,295
27,986
26,363
30,070
33,675
Interest-bearing debt
43,428
28,320
29,636
25,136
37,179
36,713
46,460
42,452
46,161
43,428
44,904
38,945
37,694
28,320
33,076
33,975
33,472
29,636
22,780
23,677
24,781
25,136
29,221
29,309
36,235
37,179
39,787
37,855
40,609
Interest-bearing net debt
17,230
(2,219)
(1,517)
3,461
9,193
3,978
25,803
22,272
27,084
17,230
12,082
4,980
9,111
(2,219)
8,957
4,603
4,331
(1,517)
10,260
10,332
6,523
3,461
5,942
3,821
940
9,193
13,424
7,785
6,934
Adjusted interest-bearing net debt
30,575
15,516
15,900
18,047
25,505
23,813
43,382
36,106
40,371
30,575
24,910
17,755
22,008
15,516
26,541
21,870
21,623
15,900
26,412
26,258
22,737
18,047
26,461
25,364
22,749
25,505
34,540
29,738
28,782
Equity
89,562
85,115
71,837
57,500
51,736
61,533
51,543
85,930
89,015
89,562
87,369
86,446
85,843
85,115
68,701
69,744
70,823
71,837
64,203
62,160
58,112
57,500
57,517
54,694
56,682
51,736
64,973
63,152
62,937
Capital employed
Intangible assets and property, plant and equipment
106,685
84,832
76,534
71,137
81,363
87,275
93,689
114,496
108,381
106,685
100,748
92,364
92,918
84,832
82,590
81,071
79,666
76,534
78,681
77,066
74,200
71,137
82,943
80,477
81,211
81,363
94,828
97,998
94,556
Equity investments and non-current receivables
1,044
1,445
1,187
1,240
1,642
1,585
2,324
2,241
2,319
1,044
1,390
1,410
1,350
1,445
1,429
1,243
1,179
1,187
1,247
502
459
1,240
1,212
1,480
1,533
1,642
1,626
1,663
1,675
Net working capital, work in progress
8,756
9,654
7,526
3,944
1,702
110
1,461
10,030
10,137
8,756
8,764
4,551
9,012
9,654
10,140
9,284
7,472
7,526
9,802
7,658
4,924
3,944
3,947
1,667
(207)
(2,887)
1,826
(1,202)
904
Net working capital, tax equity
(4,587)
(3,719)
-
-
-
-
-
(7,588)
(4,638)
(4,587)
(4,840)
(3,528)
(3,658)
(3,719)
-
-
-
-
-
-
-
Net working capital, capital expenditures
(3,304)
(2,978)
(3,039)
(2,720)
(3,772)
(2,415)
(1,551)
(9,121)
(2,997)
(3,304)
(5,494)
(3,957)
(3,094)
(2,978)
(3,604)
(4,840)
(4,779)
(3,039)
(3,725)
(4,030)
(2,742)
(2,720)
(4,088)
(4,546)
(4,719)
(3,772)
(3,857)
(5,124)
(4,288)
Net working capital, other items
2,540
1,489
(2,581)
(4,948)
(4,589)
(1,742)
643
1,092
3,665
2,540
1,328
1,326
2,425
1,489
(911)
(2,475)
124
(2,581)
(3,760)
(4,244)
(4,741)
(4,948)
(5,105)
(6,017)
(6,005)
Derivatives, net
782
(2,626)
496
1,759
6,111
2,870
628
2,454
4,415
782
(572)
656
(1,895)
(2,626)
(3,813)
(1,709)
79
496
2,824
3,305
2,842
1,759
6,960
6,480
8,970
6,111
3,420
(528)
(70)
Assets classified as held for sale, net
8,211
10,372
2,012
1,680
1,452
(1)
278
8,182
8,092
8,211
10,851
11,098
10,950
10,372
2,075
2,040
2,018
2,012
2,072
2,771
1,512
1,680
840
1,675
1,572
1,452
2,688
(1)
(1)
Decomissioning obligations
(6,158)
(5,472)
(4,751)
(3,649)
(11,144)
(10,367)
(8,821)
(6,490)
(6,299)
(6,158)
(5,900)
(5,781)
(5,712)
(5,472)
(5,405)
(5,157)
(4,998)
(4,751)
(3,965)
(3,858)
(3,783)
(3,649)
(10,502)
(10,143)
(11,645)
(11,144)
(10,990)
(11,068)
(10,810)
Other provisions
(6,443)
(7,982)
(6,770)
(5,390)
(8,044)
(5,567)
(4,789)
(6,168)
(6,468)
(6,443)
(7,031)
(7,677)
(7,989)
(7,982)
(6,587)
(6,710)
(6,860)
(6,770)
(6,179)
(5,010)
(5,318)
(5,390)
(7,009)
(7,194)
(7,451)
(8,044)
(5,483)
(5,418)
(5,645)
Tax, net
(253)
(2,629)
(464)
(1,721)
(3,700)
(6,041)
(6,184)
(334)
(71)
(253)
610
1,434
1,242
(2,629)
2,256
2,162
1,913
(464)
(2,124)
(2,657)
(2,253)
(1,721)
(5,458)
(5,034)
(5,136)
(3,700)
(5,598)
(5,306)
(6,263)
Other receivables and other payables, net
(481)
510
170
(371)
(91)
(196)
(333)
(591)
(438)
(481)
(403)
(470)
(595)
510
(512)
(562)
(660)
170
(411)
988
(465)
(371)
(281)
(330)
(501)
(91)
(62)
(77)
(187)
Capital employed
106,792
82,896
70,320
60,961
60,930
65,511
77,345
108,203
116,098
106,792
99,451
91,426
94,954
82,896
77,658
74,347
75,154
70,320
74,462
72,491
64,635
60,961
63,459
58,515
57,622
60,930
78,398
70,937
69,871
Cash flow
Cash flows from operating activities
13,079
10,343
1,023
11,272
7,521
9,568
5,754
8,197
(428)
4,816
871
7,510
(118)
7,565
(117)
3,293
(398)
3,078
(1,095)
(1,848)
888
1,752
(56)
1,215
8,361
4,463
(711)
2,865
904
Gross investments
(23,305)
(24,481)
(17,744)
(14,960)
(12,709)
(10,327)
(11,623)
(3,757)
(5,308)
(8,816)
(7,222)
(3,368)
(3,899)
(14,916)
(4,385)
(3,109)
(2,071)
(5,805)
(5,150)
(4,287)
(2,502)
(4,732)
(4,658)
(2,339)
(3,231)
(2,734)
(4,037)
(2,573)
(3,365)
Divestments
3,329
19,950
16,982
9,055
1,982
10,559
15,329
45
7
402
260
(11)
2,678
18,749
380
(14)
835
14,875
1,882
160
65
5,013
2,139
(46)
1,949
1,624
(13)
349
22
Free cash flow (FCF)
(6,897)
5,812
261
5,367
(3,206)
9,800
9,460
4,485
(5,729)
(3,598)
(6,091)
4,131
(1,339)
11,398
(4,122)
170
(1,634)
12,148
(4,363)
(5,975)
(1,549)
2,033
(2,575)
(1,170)
7,079
3,353
(4,761)
641
(2,439)
Key financial ratios, %
FFO1 / adjusted interest-bearing net debt3
31.0%
69.0%
50.3%
64.2%
28.8%
31.6%
13.1%
23.1%
21.3%
31.0%
47.4%
57.5%
46.2%
69.0%
41.7%
44.3%
45.6%
50.3%
26.5%
32.0%
34.2%
64.2%
53.6%
54.8%
66.1%
28.7%
31.0%
35.6%
29.9%
Return on capital employed (ROCE)1, 4
10.6%
32.1%
25.2%
24.4%
3.6%
4.3%
2.2%
10.8%
11.0%
10.6%
29.3%
29.3%
28.2%
32.1%
23.0%
23.5%
26,7%
25.2%
15.0%
18.4%
17.4%
24.4%
14.6%
12.6%
12.8%
3.6%
4.3%
3.6%
1.6%
Stock market ratios
Number of shares in thousand, end of period
420,381
420,381
420,381
420,381
417,726
417,726
294
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
417,726
417,726
417,726
417,726
417,726
Number of shares in thousand, average for the period
420,381
420,381
420,381
419,010
417,726
399,855
294
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,381
420,155
420,155
417,968
417,726
417,726
417,726
417,726
417,726
Earnings per share (EPS) - IFRS, DKK (total)
15.6
42.4
44.5
18.1
(24.4)
(7.4)
(7.9)
(5.2)
12.9
2.4
2.0
3.4
7.8
38.8
(2.1)
(1.1)
6.8
20.3
6.4
10.2
7.6
0.8
7.3
(4.5)
14.3
(31.7)
6.7
0.2
0.4
Earnings per share (EPS) - BP, DKK (total)
12.8
45.3
46.4
30.6
(30.7)
(14.9)
(5.9)
(2.7)
8.0
1.2
3.5
1.9
6.2
35.7
1.0
1.4
7.2
21.7
7.1
11.2
6.4
8.2
7.7
1.9
12.8
(36.7)
0.7
1.2
4.1
1 Last 12 months' figures, 2 Reportable segments are reorganised as of November 2019. 2018 and 2019 figures are restated. 3 Interest-bearing net debt plus 50% of the hybrid capital, cash, cash equivalents and securities not available for use with the exception of repo transactions, present value of lease obligations (operating lease obligations calculated as if they were finance lease obligations), and decommissioning obligations less deferred tax. 4 Return calculated as earnings as a percentage of average capital employed.
Decided (FID'ed) and installed capacity, offshore wind, GW
9.9
9.0
8.9
7.4
5.1
3.8
3.6
9.9
9.9
9.9
9.9
9.9
9.0
9.0
8.9
8.9
8.9
8.9
8.9
7.5
7.4
7.4
7.4
6.7
6.3
5.1
4.4
4.4
3.8
Installed capacity, offshore wind, GW
6.8
5.6
3.9
3.6
3.0
2.5
2.1
6.8
6.8
6.8
5.6
5.6
5.6
5.6
5.1
5.1
4.4
3.9
3.8
3.8
3.6
3.6
3.0
3.0
3.0
3.0
2.7
2.7
2.5
Generation capacity, offshore wind, GW
3.6
3.0
2.5
2.0
1.7
1.4
1.3
3.8
3.6
3.6
3.6
3.3
3.0
3.0
2.9
2.8
2.7
2.5
2.3
2.2
2.1
2.0
1.8
1.7
1.7
1.7
1.7
1.6
1.4
Wind speed5, m/s
9.2
9.1
9.3
8.9
9.7
9.2
9.0
8.0
12.1
10.0
8.5
8.0
10.4
10.3
7.7
7.9
10.3
11.0
7.9
8.5
9.9
9.4
8.1
7.8
10.2
Load factor1, %
42%
42%
44%
41%
45%
44%
42%
32%
60%
50%
37%
31%
51%
53%
32%
31%
55%
54%
34%
38%
50%
49%
35%
34%
46%
50%
36%
42%
55%
Availability2, %
93%
93%
93%
92%
93%
94%
93%
95%
93%
93%
93%
87%
96%
93%
92%
93%
94%
92%
92%
93%
93%
94%
92%
94%
89%
90%
93%
94%
94%
Power generation, TWh
12.0
10.0
8.5
6.0
5.8
5.0
5.3
2.6
4.6
3.9
2.8
2.2
3.1
3.3
1.9
1.8
3.0
2.9
1.7
1.8
2.1
1.8
1.3
1.2
1.7
1.5
1.3
1.4
1.6
Power sales7, TWh
27.6
27.4
5.5
8.8
7.7
7.0
5.7
7.2
7.7
5.2
5.4
9.2
Onshore
Decided (FID'ed) and installed capacity, offshore wind, GW
2.1
1.0
2.1
2.1
2.1
1.7
1.4
1.0
1.0
Installed capacity, wind and solar, GW
1.0
0.8
1.6
1.3
1.0
1.0
0.8
0.8
0.8
Generation capacity, wind and solar, GW
1.0
0.8
1.6
1.3
1.0
1.0
0.8
0.8
0.8
Wind speed5, m/s
7.3
7.3
8.0
7.5
7.3
6.6
7.7
7.8
7.3
Load factor1, wind, %
45%
41%
49%
44%
46%
39%
47%
47%
41%
Availability2, wind, %
98%
98%
96%
95%
98%
98%
97%
97%
98%
Power generation, wind and solar TWh
3.5
0.6
1.6
1.1
1.0
0.9
0.8
0.8
0.6
Markets & Bioenergy
Heat generation, TWh
8.3
8.8
1.0
3.1
3.0
0.5
1.1
3.7
2.8
0.3
0.9
4.8
Power generation, TWh
4.6
6.7
0.9
1.6
1.6
0.4
0.7
1.9
1.8
0.7
0.9
3.3
Power distribution, TWh
8.4
8.4
1.8
2.2
2.3
1.9
1.9
2.3
2.3
1.8
1.9
2.4
Gas distribution, TWh
-
-
-
-
-
-
-
-
-
-
-
-
Power sales7, TWh
14.7
15.3
3.0
3.6
4.1
3.3
3.3
4.0
4.3
3.5
3.5
4.1
Gas sales, TWh
125.0
131.1
20.1
26.7
36.7
30.8
31.7
25.8
25.5
31.3
33.9
40.4
Degree days3, number
2,399
2,526
436
1,065
882
108
269
1,140
884
76
149
1,417
Regulatory asset base (power)4, DKKm
11,431
10,957
11,431
11,431
11,431
10,957
10,957
10,957
10,957
10,623
Eliminations
Power sales6,7, TWh
(15)
(15)
(3.0)
(3.6)
(3.3)
(4.1)
(3.3)
(4.0)
(4.3)
(3.5)
(3.5)
(4.1)
Bioenergy
Degree days3, number
2,705
2,715
2,621
2,462
2,890
895
115
451
1,244
962
54
399
1,300
781
109
520
1,211
Heat generation, TWh
9.0
9.2
9.3
8.7
11.2
2.8
0.7
1.3
4.2
3.1
0.4
1.4
4.3
2.9
0.6
1.6
4.2
Power generation, TWh
8.2
8.4
7.1
8.7
13.8
2.3
1.2
1.5
3.2
3.0
1.3
1.1
3.0
2.5
0.4
1.2
3.0
Customers solutions
Regulatory asset base (power)4, DKKm
10,623
10,648
10,778
10,373
10,127
10,623
10,623
10,623
10,648
10,648
10,648
10,648
10,778
10,778
10,778
10,778
10,373
Power distribution, TWh
8.4
8.5
8.4
8.4
8.6
2.2
1.9
2.0
2.3
2.3
1.9
1.9
2.4
2.3
1.9
1.9
2.3
Gas distribution, TWh
-
5.8
8.1
8.2
9.0
-
-
-
-
-
1.1
1.5
3.2
2.4
1.1
1.5
3.1
Power sales, TWh
37.7
36.7
35.5
34.5
25.5
10.6
8.2
8.8
10.1
9.2
8.3
8.5
10.7
9.9
9.3
7.8
8.5
Gas sales, TWh
136.1
150.4
159.1
151.3
131.7
36.9
29.4
28.3
41.5
36.1
37.1
35.6
41.6
36.2
42.2
36.8
43.9
Oil & Gas
Oil and gas production, million BOE
21.4
36.6
40.9
41.8
31.7
-
7.3
6.6
7.5
9.0
8.9
8.7
10.0
EBITDA
6,436
6,507
9,754
8,591
7,324
-
1,389
2,598
2,449
2,140
1,658
1,705
1,004
Free Cash Flow
8,475
1,106
655
452
(5,631)
-
4,010
2,655
1,810
1,020
658
(1,049)
478
Capital employed
3,505
2,769
5,444
17,538
20,663
-
-
1,301
2,204
2,769
4,976
4,981
5,281
Social & Environmental
Employees (FTE), number
6,526
6,080
5,638
5,775
5,947
5,751
5,807
6,731
6,608
6,526
6,454
6,312
6,176
6,080
5,882
5,741
5,662
5,638
5,641
5,802
5,787
5,775
5,890
5,881
6,019
5,947
5,956
5,911
5,817
Lost time injury frequency (LTIF)8, per 1 million hours worked
2.1
1,,5
1.6
1.8
2.0
2.5
3.5
2.1
1.9
2.1
2.1
1.4
1.5
1.5
1.5
2.0
1.7
1.6
1.5
1.5
1.6
1.8
2.1
1.9
2.1
2.0
2.1
2.0
2.3
Total recordable injury rate (TRIR)8, per 1 million houers worked
4.9
4.7
6.4
6.8
9.7
10.9
12.0
4.7
4.7
4.9
4.5
4.1
4.3
4.7
5.0
6.2
6.7
6.4
6.7
6.5
6.4
6.8
7.4
8.5
9.2
Fatalities, number
1
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Green share of energy generation, %
86
75
64
50
49
44
35
86
90
90
87
85
80
83
71
80
68
76
60
64
56
56
47
54
43
Greenhouse gas intensity, g CO2e/kWh
65
131
151
224
220
280
311
84
53
44
62
71
82
Jessica Wright: Jessica Wright: Should be 85% according to ESG Q1 2020 report p13
87
212
123
147
106
203
150
170
183
329
210
232
225
217
217
218
1 Load factor: The ratio between the actual generation over a period relative to the potential generation which is possible by continuously exploiting the maximum capacity over the same period. 2 Availability: Production-based availability is the ratio of actual production to the possible production, which is the sum of lost production and actual production in a given period. 3 Degree days: Number of degrees in absolute figures in difference between the average temperature and the official Danish average indoor temperature of 17 degrees Celcius. 4 The figures indicate values from the latest regulatory financial statements. 5 Wind Speed indicates how many metres per second the wind has blown in the areas where we have wind farms. The weigthing is based on our generation capacity. 6 Eliminations is equal to the internal sale from Offshore to Markets & Bioenergy. The Ørsted power sales is the sum of Offshore, Markets & Bioenergy and elimations. 7 Power sales volumes have been reduced compared to previously announced volumes as we eliminated for internally sourced power generation volumes in Germany and the UK due to the new presentation of power sales volumes in Offshore 812 months rolling
P&L_BP
Income statement
Business performance, DKKm
FY 2019
FY 2018
FY 2017
FY 2016
FY 2015
FY 2014
FY 2013
FY 2012
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Revenue
67,842
76,946
59,504
61,201
65,444
61,280
68,555
61,004
11,625
15,376
18,679
15,481
16,443
17,239
23,527
15,018
18,593
19,808
15,598
11,869
15,540
16,497
Cost of sales
(41,816)
(53,906)
(40,544)
(39,260)
(51,435)
(49,558)
(54,334)
(52,391)
(6,816)
(7,807)
(11,292)
(9,458)
(10,703)
(10,363)
(17,129)
(10,545)
(13,642)
(12,590)
(10,169)
(8,209)
(10,579)
(11,587)
Other external expenses and employee costs
(10,043)
(8,991)
(7,438)
(7,166)
(6,573)
(5,968)
(6,012)
(7,122)
(2,300)
(2,282)
(2,753)
(2,463)
(2,505)
(2,322)
(2,632)
(2,429)
(2,073)
(1,857)
(1,890)
(1,879)
(1,909)
(1,760)
Gain (loss) on disposal of assets
(101)
14,995
10,835
2,940
(31)
1,904
348
140
71
1,217
(416)
7
190
118
15,085
(27)
(32)
(31)
9,468
(52)
1,381
38
Additional other operating income and expenses
1,622
991
281
1,369
1,213
233
(166)
461
369
297
395
556
211
460
360
212
231
188
144
29
18
90
Share of profit (loss) in associates and joint ventures
(20)
(6)
(119)
25
112
(93)
(711)
(3)
7
4
-
(7)
(11)
(2)
(5)
(4)
2
1
(119)
(1)
(9)
10
Operating profit (loss) before depreciation, amortisation and impairment losses (EBITDA)
17,484
30,029
22,519
19,109
8,730
7,798
7,680
2,089
2,956
6,805
4,613
4,116
3,625
5,130
19,206
2,225
3,079
5,519
13,032
1,757
4,442
3,288
Amortisation, depreciation and impairment losses on intangible assets and property, plant and equipment
(7,432)
(5,375)
(6,284)
(5,232)
(6,857)
(5,535)
(6,374)
(8,501)
(1,827)
(1,754)
(2,444)
(1,681)
(1,689)
(1,618)
(1,094)
(1,437)
(1,462)
(1,382)
(2,062)
(1,385)
(1,541)
(1,296)
Operating profit (loss) (EBIT)
10,052
24,654
16,235
13,877
1,873
2,263
1,306
(6,412)
1,129
5,051
2,169
2,435
1,936
3,512
18,112
788
1,617
4,137
10,970
372
2,901
1,992
Gain (loss) on divestment of enterprises
(63)
127
(139)
1,250
56
1,258
2,045
2,675
(3)
(14)
(13)
(15)
(18)
(17)
(28)
181
(16)
(10)
(14)
(108)
(6)
(11)
Share of profit (loss) in associates and joint ventures
2
1
(10)
(8)
(8)
(484)
(57)
(699)
3
3
3
(5)
3
1
(3)
2
4
(2)
42
(7)
(2)
(43)
Financial income
7,718
3,179
4,253
8,179
9,297
5,021
3,056
3,576
552
805
4,112
1,008
938
1,660
1,538
215
73
1,353
1,703
1,158
663
729
Financial expenses
(8,853)
(4,457)
(5,295)
(8,946)
(10,706)
(5,859)
(6,135)
(4,148)
(1,562)
(1,581)
(4,756)
(1,055)
(1,483)
(1,559)
(1,581)
(651)
(577)
(1,648)
(2,352)
(1,136)
(744)
(1,063)
Profit (loss) before tax
8,856
23,504
15,044
14,352
512
2,199
215
(5,008)
119
4,264
1,515
2,368
1,376
3,597
18,038
535
1,101
3,830
10,349
279
2,812
1,604
Tax on profit (loss) for the period
(2,756)
(4,018)
(1,765)
(2,191)
455
(298)
478
1,473
(928)
(918)
(590)
(925)
(283)
(958)
(2,878)
(117)
(225)
(798)
(999)
(70)
(306)
(390)
Profit (loss) for the period from continuing operations
6,100
19,486
13,279
12,161
967
1,901
693
(3,535)
(809)
3,346
925
1,443
1,093
2,639
15,160
418
876
3,032
9,350
209
2,506
1,214
Profit (loss) for the period from discontinued operations
(56)
10
6,920
1,052
(13,051)
(7,185)
(1,686)
(486)
(16)
(28)
(29)
34
(18)
(43)
34
(13)
(19)
8
79
2,931
2,484
1,426
Profit (loss) for the period
6,044
19,496
20,199
13,213
(12,084)
(5,284)
(993)
(4,021)
(825)
3,318
896
1,477
1,075
2,596
15,194
405
857
3,040
9,429
3,140
4,990
2,640
P&L_Adj
Income statement
Business performance adjustments, DKKm
FY 2019
FY 2018
FY 2017
FY 2016
FY 2015
FY 2014
FY 2013
FY 2012
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Revenue
2,556
(1,426)
205
(3,808)
1,264
586
(1,226)
(965)
(1,663)
2,856
1,136
(938)
834
1,524
2,638
(2,220)
(1,734)
(110)
(887)
(222)
385
929
(2,281)
85
(1,867)
255
1,252
1,581
(344)
(1,225)
Cost of sales
(1,020)
(112)
(150)
1,638
(106)
(837)
101
(154)
299
(212)
(489)
150
(34)
(647)
(930)
562
380
(124)
166
108
(50)
(374)
543
39
739
317
(88)
(349)
29
302
Other external expenses and employee costs
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Gain (loss) on disposal of assets
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Additional other operating income and expenses
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Share of profit (loss) in associates and joint ventures
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Operating profit (loss) before depreciation, amortisation and impairment losses (EBITDA)
1,536
(1,538)
55
(2,170)
1,158
(251)
(1,125)
(1,119)
(1,364)
2,644
647
(788)
800
877
1,708
(1,658)
(1,354)
(234)
(721)
(114)
335
555
(1,738)
124
(1,128)
572
1,164
1,232
(315)
(923)
Amortisation, depreciation and impairment losses on intangible assets and property, plant and equipment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Operating profit (loss) (EBIT)
1,536
(1,538)
55
(2,170)
1,158
(251)
(1,125)
(1,119)
(1,364)
2,644
647
(788)
800
877
1,708
(1,658)
(1,354)
(234)
(721)
(114)
335
555
(1,738)
124
(1,128)
572
1,164
1,232
(315)
(923)
Gain (loss) on divestment of enterprises
-
-
-
-
-
(5)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Share of profit (loss) in associates and joint ventures
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Financial income
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Financial expenses
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Profit (loss) before tax
1,536
(1,538)
55
(2,170)
1,158
(256)
(1,125)
(1,119)
(1,364)
2,644
647
(788)
800
877
1,708
(1,658)
(1,354)
(234)
(721)
(114)
335
555
(1,738)
124
(1,128)
572
1,164
1,232
(315)
(923)
Tax on profit (loss) for the period
(345)
318
(13)
476
(271)
63
286
279
303
(583)
(143)
167
(175)
(194)
(396)
365
298
51
158
25
(76)
(120)
382
(29)
249
(126)
(271)
(289)
73
216
Profit (loss) for the period from continuing operations
1,191
(1,220)
42
(1,694)
887
(193)
(839)
(840)
(1,061)
2,061
504
(621)
625
683
1,312
(1,293)
(1,056)
(183)
(563)
(89)
259
435
(1,356)
95
(879)
446
893
943
(242)
(707)
Profit (loss) for the period from discontinued operations
-
-
(816)
(3,584)
1,744
3,167
241
(265)
-
-
-
-
-
-
-
-
-
-
1
(223)
(673)
79
(1,747)
(231)
(1,796)
190
1,184
1,562
(167)
(835)
Profit (loss) for the period
1,191
(1,220)
(774)
(5,278)
2,631
2,974
(598)
(1,105)
(1,061)
2,061
504
(621)
625
683
1,312
(1,293)
(1,056)
(183)
(562)
(312)
(414)
514
(3,102)
(136)
(2,676)
636
2,077
2,505
(409)
(1,542)
P&L_IFRS
Income statement
IFRS, DKKm
FY 2019
FY 2018
FY 2017
FY 2016
FY 2015
FY 2014
FY 2013
FY 2012
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Revenue
70,398
75,520
59,709
57,393
66,708
61,866
67,329
60,039
9,962
18,232
19,815
14,543
17,277
18,763
26,165
12,798
16,859
19,698
14,711
11,647
15,925
17,426
13,396
13,200
13,134
17,663
15,571
17,585
16,968
16,584
Cost of sales
(42,836)
(54,018)
(40,694)
(37,622)
(51,541)
(50,395)
(54,233)
(52,545)
(6,517)
(8,019)
(11,781)
(9,308)
(10,737)
(11,010)
(18,059)
(9,983)
(13,262)
(12,714)
(10,003)
(8,101)
(10,629)
(11,961)
(10,170)
(8,322)
(10,309)
(8,821)
(10,870)
(13,383)
(13,378)
(13,910)
Employee costs and other external expenses
(10,043)
(8,991)
(7,438)
(7,166)
(6,573)
(5,968)
(6,012)
(7,123)
(2,300)
(2,282)
(2,753)
(2,463)
(2,505)
(2,322)
(2,632)
(2,429)
(2,073)
(1,857)
(1,890)
(1,879)
(1,909)
(1,760)
(1,851)
(1,846)
(1,610)
(1,859)
(2,047)
(1,585)
(1,538)
(1,403)
Gain (loss) on disposal of assets
(101)
14,995
10,835
2,940
(30)
1,903
348
140
71
297
(416)
7
190
118
15,085
(27)
(32)
(31)
9,468
(52)
1,381
38
2,695
(116)
16
347
24
(21)
(29)
(5)
Additional other operating income and expenses
1,622
991
281
1,369
1,212
233
(166)
462
369
1,217
395
556
211
460
360
212
231
188
144
29
18
90
479
319
265
303
413
129
402
269
Share of profit (loss) in associates and joint ventures
(20)
(6)
(119)
25
112
(93)
(711)
(3)
7
4
-
(7)
(11)
(2)
(5)
(4)
2
1
(119)
(1)
(9)
10
23
(13)
(9)
24
20
59
6
27
Operating profit (loss) before depreciation, amortisation and impairment losses (EBITDA)
19,020
28,491
22,574
16,939
9,888
7,546
6,555
970
1,592
9,449
5,260
3,328
4,425
6,007
20,914
567
1,725
5,285
12,311
1,643
4,777
3,843
4,572
3,222
1,487
7,657
3,111
2,784
2,431
1,562
Amortisation, depreciation and impairment losses on intangible assets and property, plant and equipment
(7,432)
(5,375)
(6,284)
(5,232)
(6,857)
(5,535)
(6,375)
(8,501)
(1,827)
(1,754)
(2,444)
(1,681)
(1,689)
(1,618)
(1,094)
(1,437)
(1,462)
(1,382)
(2,062)
(1,385)
(1,541)
(1,296)
(1,602)
(1,238)
(1,216)
(1,176)
(2,628)
(1,489)
(1,376)
(1,364)
Operating profit (loss) (EBIT)
11,588
23,116
16,290
11,707
3,031
2,011
180
(7,531)
(235)
7,695
2,816
1,647
2,736
4,389
19,820
(870)
263
3,903
10,249
258
3,236
2,547
2,970
1,984
271
6,481
483
1,295
1,055
198
Gain (loss) on divestment of enterprises
(63)
127
(139)
1,250
56
1,253
2,045
2,675
(3)
(14)
(13)
(15)
(18)
(17)
(28)
181
(16)
(10)
(14)
(108)
(6)
(11)
(80)
1,314
19
(3)
(32)
(12)
81
18
Share of profit (loss) in associates and joint ventures
2
1
(10)
(8)
(8)
(484)
(57)
(699)
3
3
3
(5)
3
1
(3)
2
4
(2)
42
(7)
(2)
(43)
(3)
(4)
1
(1)
(1)
(3)
(1)
(3)
Financial income
7,718
3,179
4,253
8,179
9,297
5,022
3,057
3,577
552
805
4,112
1,008
938
1,660
1,538
215
73
1,353
1,703
1,158
663
729
5,123
845
1,442
768
2,958
915
1,584
3,842
Financial expenses
(8,853)
(4,457)
(5,295)
(8,946)
(10,706)
(5,859)
(6,135)
(4,149)
(1,562)
(1,581)
(4,756)
(1,055)
(1,483)
(1,559)
(1,581)
(651)
(577)
(1,648)
(2,352)
(1,136)
(744)
(1,063)
(5,475)
(959)
(2,032)
(480)
(3,286)
(1,066)
(1,855)
(4,499)
Profit (loss) before tax
10,392
21,966
15,099
12,182
1,670
1,943
(910)
(6,127)
(1,245)
6,908
2,162
1,580
2,176
4,474
19,746
(1,123)
(253)
3,596
9,628
165
3,147
2,159
2,535
3,180
(299)
6,765
122
1,129
864
(445)
Tax on profit (loss) for the period
(3,101)
(3,700)
(1,778)
(1,715)
184
(235)
764
1,752
(625)
(1,501)
(733)
(758)
(458)
(1,152)
(3,274)
248
73
(747)
(841)
(45)
(382)
(510)
97
(565)
92
(1,339)
456
(249)
(149)
126
Profit (loss) for the period from continuing operations
7,291
18,266
13,321
10,467
1,854
1,708
(146)
(4,375)
(1,870)
5,407
1,429
822
1,718
3,322
16,472
(875)
(180)
2,849
8,787
120
2,765
1,649
2,633
2,615
(207)
5,426
578
880
715
(319)
Profit (loss) for the period from discontinued operations
(56)
10
6,104
(2,532)
(11,307)
(4,018)
(1,445)
(751)
(16)
(28)
(29)
34
(18)
(43)
34
(13)
(19)
8
80
2,708
1,811
1,505
(2,220)
580
(1,318)
426
(13,820)
2,082
(91)
522
Profit (loss) for the period
7,235
18,276
19,425
7,935
(9,453)
(2,310)
(1,591)
(5,126)
(1,886)
5,379
1,400
856
1,700
3,279
16,506
(888)
(199)
2,857
8,867
2,828
4,576
3,154
413
3,195
(1,525)
5,852
(13,242)
2,962
624
203
Profit (loss) for the period is attributable to:
-
-
-
Shareholders of Ørsted A/S
6,506
17,826
18,719
7,547
(10,198)
(2,976)
(2,327)
(5,235)
(2,201)
5,379
948
876
1,389
3,293
16,310
(858)
(492)
2,866
8,552
2,680
4,297
3,190
337
3,084
(1,862)
5,988
(13,239)
2,793
93
155
Interests and costs, hybrid capital owners of Ørsted A/S
675
425
716
499
714
588
765
549
326
-
443
(24)
291
(35)
194
(24)
290
(35)
315
146
290
(35)
98
146
290
(35)
29
147
579
(41)
Non-controlling interests
54
25
(10)
(111)
31
78
(29)
(440)
(11)
-
9
4
20
21
2
(6)
3
26
-
2
(11)
(1)
(22)
(35)
47
(101)
(33)
23
(48)
89
Profit (loss) for the period
7,235
18,276
19,425
7,935
(9,453)
(2,310)
(1,591)
(5,126)
(1,886)
5,379
1,400
856
1,700
3,279
16,506
(888)
(199)
2,857
8,867
2,828
4,576
3,154
413
3,195
(1,525)
5,852
(13,242)
2,962
624
203
Assets
Balance sheet
Assets, DKKm
30 June 2020
31 March 2020
31 December 2019
30 September 2019
30 June 2019
31 March 2019
31 December 2018
30 September 2018
30 June 2018
31 March 2018
31 December 2017
30 September 2017
30 June 2017
31 March 2017
31 December 2016
30 September 2016
30 June 2016
31 March 2016
31 December 2015
31 December 2014
31 December 2013
31 December 2012
Intangible assets
504
657
672
590
564
791
777
741
603
605
689
707
710
851
955
1,047
1,045
1,187
1,134
1,369
2,167
2,425
Land and buildings
5,073
5,029
5,177
5,293
4,897
4,954
969
1,524
1,540
1,494
1,501
1,494
1,516
1,533
1,505
1,550
1,570
1,598
1,490
1,656
1,979
3,806
Production assets
80,463
76,940
76,682
75,985
70,096
68,270
66,310
64,947
62,537
62,286
60,603
55,860
56,615
56,603
53,708
62,726
64,664
63,494
61,107
65,517
67,758
70,266
Exploration assets
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
200
12
13
14
388
1,192
1,401
Fixtures and fittings, tools and equipment
588
590
652
652
711
729
342
355
379
401
413
409
425
429
438
420
431
443
474
291
296
266
Property, plant and equipment under construction
27,868
25,165
23,502
18,228
16,096
18,174
16,434
15,023
16,012
14,880
13,328
20,211
17,800
14,784
14,531
17,000
12,755
14,476
17,144
18,054
20,297
18,181
Property, plant and equipment
113,992
107,724
106,013
100,158
91,800
92,127
84,055
81,849
80,468
79,061
75,845
77,974
76,356
73,349
70,182
81,896
79,432
80,024
80,229
85,906
91,522
93,920
Investments in associates and joint ventures
542
558
497
463
527
461
457
462
345
340
339
376
333
282
1,060
1,018
1,279
1,326
1,421
1,315
2,013
4,459
Receivables from associates and joint ventures
-
-
-
-
-
60
60
63
64
56
48
31
36
-
626
637
706
771
832
1,018
933
1,645
Other securities and equity investments
227
229
217
225
213
206
211
208
146
126
130
135
141
153
158
172
178
185
191
242
261
382
Deferred tax
8,441
7,058
6,847
5,799
5,753
4,166
4,588
2,692
3,015
2,205
2,865
732
793
529
88
298
412
322
274
632
130
265
Other receivables
3,019
2,891
1,713
1,960
2,144
2,604
2,670
2,025
2,024
1,953
1,955
1,999
529
531
515
586
609
730
751
513
278
2,307
Other non-current assets
12,229
10,736
9,274
8,447
8,637
7,497
7,986
5,450
5,594
4,680
5,337
3,273
1,832
1,495
2,447
2,711
3,184
3,334
3,469
3,720
3,615
9,058
Non-current assets
126,725
119,117
115,959
109,195
101,001
100,415
92,818
88,040
86,665
84,346
81,871
81,954
78,898
75,695
73,584
85,654
83,661
84,545
84,832
90,995
97,304
105,403
Inventories
11,417
14,960
14,031
14,335
13,087
15,194
13,943
17,790
14,364
15,477
3,853
3,719
2,393
3,120
3,451
3,273
3,004
3,887
3,567
2,938
3,560
3,765
Derivatives
7,841
12,041
7,740
4,909
6,303
5,353
5,468
7,509
5,451
3,799
4,870
5,909
5,651
5,842
8,689
11,679
13,632
17,570
15,642
11,193
9,147
12,582
Contract assets
1,216
1,006
739
1,978
-
343
1,451
547
1,623
1,013
10,817
11,031
9,838
7,578
6,453
6,536
4,316
3,599
3,864
1,811
1,890
853
Trade receivables
4,723
7,517
8,140
6,327
7,303
9,726
10,741
7,457
7,013
9,429
9,170
6,554
6,269
6,358
7,286
6,491
5,169
7,578
7,739
8,346
8,875
7,873
Other receivables
4,294
4,235
5,253
4,082
3,609
4,709
4,390
2,936
2,347
2,323
3,519
2,690
3,454
1,276
1,710
2,195
2,214
2,137
2,657
3,357
4,929
4,471
Receivables from associates and joint ventures
-
-
-
-
-
-
-
-
-
-
-
-
-
-
49
69
48
30
56
100
506
465
Income tax
1,176
19
346
6,812
6,308
6,155
1,525
1,618
1,330
1,232
296
898
244
372
430
319
322
312
329
192
169
181
Securities
12,327
12,941
16,552
25,702
25,485
21,576
25,501
20,333
24,854
23,711
25,280
7,521
10,627
15,099
16,533
19,233
21,498
25,004
21,221
24,948
16,118
14,914
Cash
6,754
4,899
7,148
5,371
6,968
3,737
3,515
1,976
2,832
3,754
4,203
3,308
1,257
1,911
2,931
2,588
2,434
8,608
4,965
6,034
2,894
3,351
Current assets
49,748
57,618
59,949
69,516
69,063
66,793
66,534
60,166
59,814
60,738
62,008
41,630
39,733
41,556
47,532
52,383
52,637
68,725
60,040
58,919
48,088
48,455
Assets classified as held for sale
16,651
16,901
16,952
15,810
15,885
15,575
15,223
2,703
2,670
2,655
2,642
2,606
14,919
14,779
15,373
3,160
4,402
2,645
2,585
-
280
3,631
Assets
193,124
193,636
192,860
194,521
185,949
182,783
174,575
150,909
149,149
147,739
146,521
126,190
133,550
132,030
136,489
141,197
140,700
155,915
147,457
149,914
145,672
157,489
Liabilities
Balance sheet
Equity and liabilities, DKKm
30 June 2020
31 March 2020
31 December 2019
30 September 2019
30 June 2019
31 March 2019
31 December 2018
30 September 2018
30 June 2018
31 March 2018
31 December 2017
30 September 2017
30 June 2017
31 March 2017
31 December 2016
30 September 2016
30 June 2016
31 March 2016
31 December 2015
31 December 2014
31 December 2013
31 December 2012
Share capital
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,204
4,177
4,177
4,177
2,937
2,937
Reserves
(1,585)
(906)
413
(731)
(881)
(323)
(1,827)
(2,041)
(2,044)
(1,554)
(1,524)
20,537
20,130
20,269
20,218
20,486
20,584
20,372
20,855
20,428
8,431
7,903
Retained earnings
67,170
69,430
68,465
67,504
66,637
65,312
62,012
49,866
50,724
51,211
48,328
22,309
19,656
15,355
12,162
14,339
11,159
13,065
7,058
17,131
20,231
22,581
Proposed dividends
-
-
-
-
-
-
4,099
-
-
-
3,783
-
-
-
2,522
-
-
-
-
-
-
-
Equity attributable to shareholders in Ørsted A/S
69,789
72,728
73,082
70,977
69,960
69,193
68,488
52,029
52,884
53,861
54,791
47,050
43,990
39,828
39,106
39,029
35,947
37,614
32,090
41,736
31,599
33,421
Hybrid capital
13,232
13,232
13,232
13,239
13,239
13,239
13,239
13,239
13,239
13,239
13,239
13,248
13,248
13,248
13,248
13,248
13,248
13,248
13,248
13,236
13,236
9,538
Non-controlling interests
2,909
3,055
3,248
3,153
3,247
3,411
3,388
3,433
3,621
3,723
3,807
3,905
4,922
5,036
5,146
5,240
5,500
5,820
6,398
6,561
6,708
7,057
Equity
85,930
89,015
89,562
87,369
86,446
85,843
85,115
68,701
69,744
70,823
71,837
64,203
62,160
58,112
57,500
57,517
54,695
56,682
51,736
61,533
51,543
50,016
Deferred tax
3,903
2,508
3,371
5,175
4,695
3,818
4,025
1,782
1,880
1,216
2,128
2,640
3,324
2,632
2,185
2,855
2,827
1,488
1,646
4,281
5,496
6,917
Pensions
9
9
10
10
10
10
9
10
10
10
9
11
11
11
10
11
11
12
10
12
13
13
Provisions
12,194
12,229
12,053
12,339
12,850
13,012
12,765
11,421
11,296
11,273
10,831
9,499
8,236
8,418
8,327
16,211
16,031
17,508
17,744
15,385
12,878
12,395
Lease liabilities
4,444
4,533
4,728
4,826
4,479
4,623
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Issued bonds
31,507
32,011
32,804
29,341
29,116
22,060
21,623
21,679
21,734
23,876
23,757
19,797
19,838
20,187
20,119
19,988
20,372
24,572
25,487
28,414
27,601
31,567
Bank loans
1,468
3,251
3,235
3,302
3,284
3,512
3,472
1,826
1,824
1,960
1,958
1,967
1,944
2,038
2,045
2,061
3,847
6,279
6,288
7,435
9,166
16,106
Contract liabilities
3,703
3,721
3,762
3,852
3,720
3,703
3,642
5,676
5,482
5,338
-
-
-
-
-
-
-
-
-
-
-
-
Tax equity liabilities
7,595
4,608
4,563
4,872
3,654
3,784
3,728
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Other payables
463
493
469
247
242
225
409
386
316
362
5,714
6,961
6,824
6,714
6,622
6,664
6,489
6,246
5,913
4,599
3,958
3,300
Non-current liabilities
65,286
63,363
64,995
63,964
62,050
54,747
49,673
42,780
42,542
44,035
44,397
40,875
40,177
40,000
39,308
47,790
49,577
56,105
57,088
60,126
59,112
70,298
Provisions
455
529
538
582
597
678
680
561
561
574
680
634
621
673
702
1,288
1,295
1,576
1,434
537
719
567
Lease liabilities
653
638
604
593
595
588
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Issued bonds
-
-
570
-
-
2,092
2,091
2,090
5,813
3,814
3,810
-
-
-
-
3,405
3,401
3,728
3,728
-
3,728
-
Bank loans
2,052
3,847
231
5,904
235
4,185
110
6,309
4,026
3,393
111
1,016
1,894
2,000
2,019
2,845
972
905
898
208
5,661
5,072
Derivatives
5,387
7,626
6,958
5,481
5,647
7,248
8,094
11,325
7,160
3,720
4,374
3,084
2,347
3,001
6,930
4,720
7,152
8,600
9,531
8,323
8,519
12,541
Contract liabilities
435
923
784
904
3,009
505
924
1,238
1,138
1,029
1,317
-
-
499
171
-
323
1,444
671
1,667
415
68
Trade payables
12,933
8,846
10,832
14,037
12,291
13,011
13,082
12,218
13,208
14,338
11,499
10,435
10,543
9,231
10,024
10,134
10,686
12,224
10,673
9,031
7,329
9,531
Tax equity liabilities
630
646
632
625
446
453
445
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Other payables
4,846
4,738
4,247
3,245
3,915
3,547
4,793
4,787
4,023
5,067
6,368
4,295
4,165
4,872
6,277
7,959
6,933
9,298
7,908
5,905
7,658
7,390
Income tax
6,048
4,640
4,075
6,826
5,931
5,261
4,717
272
304
309
1,498
1,113
370
522
54
3,220
2,940
4,280
2,657
2,584
986
1,825
Current liabilities
33,439
32,433
29,471
38,197
32,666
37,568
34,936
38,800
36,233
32,244
29,657
20,577
19,940
20,798
26,177
33,571
33,702
42,055
37,500
28,255
35,015
36,994
Liabilities
98,725
95,796
94,466
102,161
94,716
92,315
84,609
81,580
78,775
76,279
74,054
61,452
60,117
60,798
65,485
81,361
83,279
98,160
94,588
88,381
94,127
107,292
Liabilities relating to assets classified as held for sale
8,469
8,825
8,832
4,991
4,787
4,625
4,851
628
630
637
630
535
11,273
13,120
13,504
2,319
2,726
1,073
1,133
-
2
181
Equity and liabilities
193,124
193,636
192,860
194,521
185,949
182,783
174,575
150,909
149,149
147,739
146,521
126,190
133,550
132,030
136,489
141,197
140,700
155,915
147,457
149,914
145,672
157,489
CF
Statement of cash flows
DKKm
FY 2019
FY 2018
FY 2017
FY 2016
FY 2015
FY 2014
FY 2013
FY 2012
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Operating profit (loss) before depreciation, amortisation and impairment losses (EBITDA), IFRS
19,020
28,491
22,574
16,939
9,888
7,546
6,555
970
1,592
9,449
5,260
3,328
4,425
6,007
20,914
567
1,725
5,285
12,311
1,643
4,777
3,843
4,571
3,223
1,487
7,657
3,111
2,784
2,431
1,562
Change in derivatives, business performance adjustments
(1,536)
1,538
(55)
2,170
(1,158)
251
1,125
1,118
1,364
(2,644)
(647)
788
(800)
(877)
(1,708)
1,658
1,354
234
721
114
(335)
(555)
1,738
(124)
1,129
(572)
(1,164)
(1,232)
315
923
Change in derivatives, other adjustments
(1,040)
369
(528)
806
(155)
250
888
(785)
680
(1,194)
(352)
(464)
(358)
134
(658)
741
596
(310)
470
304
(1,181)
(121)
847
(5)
531
(567)
53
(99)
(181)
72
Change in provisions
727
(278)
98
(366)
(299)
(235)
(253)
830
(349)
(16)
934
(240)
39
(6)
(122)
(237)
(144)
225
461
(50)
(211)
(102)
(275)
(127)
4
32
(134)
40
(142)
(63)
Reversal of gain (loss) on divestment of assets
101
(14,995)
(10,835)
(2,939)
30
(1,903)
(348)
(139)
(71)
(1,217)
416
(7)
(190)
(118)
(15,085)
26
33
31
(9,468)
52
(1,381)
(38)
(2,695)
117
(16)
(345)
(24)
21
28
5
Other items
86
203
297
217
(8)
58
668
639
(43)
36
(10)
13
85
(2)
209
18
29
(53)
333
(158)
22
100
24
189
31
(26)
56
(38)
(17)
(9)
Interest received and similar items
4,094
6,648
3,508
5,177
7,686
4,372
3,262
3,232
694
1,632
1,348
605
1,402
739
4,481
454
510
1,203
561
1,037
1,097
813
2,154
737
1,029
1,257
3,165
789
1,834
1,898
Interest paid and similar items
(5,143)
(7,348)
(3,472)
(6,038)
(7,935)
(4,795)
(5,640)
(3,424)
(1,328)
(2,161)
(1,610)
(618)
(2,085)
(830)
(4,237)
(758)
(1,009)
(1,344)
(697)
(693)
(1,019)
(1,063)
(2,228)
(668)
(1,240)
(1,902)
(3,156)
(985)
(1,871)
(1,923)
Income tax paid
(4,800)
(3,367)
(2,660)
(3,182)
(1,115)
(130)
49
(286)
(86)
(1,267)
57
-
(30)
(4,827)
(264)
(14)
(5)
(3,084)
(2,652)
(17)
(3)
12
(3,231)
8
(74)
115
(1,066)
4
(1)
(52)
Cash flows from operating activities before change in net working capital
11,509
11,261
8,927
12,784
6,934
5,414
6,306
2,155
2,453
2,618
5,396
3,405
2,488
220
3,530
2,455
3,089
2,187
2,040
2,232
1,766
2,889
904
3,350
2,881
5,649
841
1,284
2,396
2,413
Change in net working capital
1,570
(918)
(7,904)
(1,512)
587
4,154
(552)
138
5,744
(3,046)
(580)
(2,534)
5,022
(338)
4,035
(2,572)
204
(2,585)
1,038
(3,327)
(3,614)
(2,001)
848
(3,406)
(1,666)
2,712
3,623
(1,996)
467
(1,507)
Cash flows from operating activities
13,079
10,343
1,023
11,272
7,521
9,568
5,754
2,293
8,197
(428)
4,816
871
7,510
(118)
7,565
(117)
3,293
(398)
3,078
(1,095)
(1,848)
888
1,752
(56)
1,215
8,361
4,464
(712)
2,863
906
Purchase of intangible assets and property, plant and equipment
(22,445)
(14,655)
(17,592)
(14,980)
(12,749)
(9,818)
(11,429)
(11,481)
(3,770)
(5,238)
(8,825)
(6,738)
(3,100)
(3,782)
(5,290)
(4,201)
(3,089)
(2,075)
(5,725)
(5,135)
(4,228)
(2,504)
(4,745)
(4,664)
(2,329)
(3,242)
(2,739)
(4,044)
(2,586)
(3,380)
Sale of intangible assets and property, plant and equipment
3,424
19,639
16,333
7,105
1,753
7,401
3,980
1,379
57
23
425
316
8
2,675
18,799
(26)
16
850
14,873
1,343
108
9
4,984
116
20
1,985
1,689
10
52
2
Acquisition of enterprises
(764)
(5,602)
(83)
(16)
-
(429)
(3)
(353)
(3)
4
-
(493)
(149)
(122)
(5,602)
-
-
-
(59)
(24)
-
-
-
-
(16)
-
-
-
-
-
Divestment of enterprises
(89)
363
588
1,999
261
3,133
9,184
2,922
(5)
(17)
(21)
(28)
(19)
(21)
(13)
403
(18)
(9)
(9)
537
(7)
67
(10)
2,022
(7)
(6)
(70)
(4)
316
19
Acquisition of associates
-
-
28
32
-
-
-
-
-
-
-
-
-
-
-
-
-
-
28
-
-
-
14
6
7
-
-
-
-
-
Purchase of other equity investments
-
(78)
-
-
-
-
(6)
-
(2)
(9)
-
-
-
-
(1)
(61)
(16)
-
-
-
-
-
-
-
-
-
-
-
-
-
Divestment of other equity investments
(5)
-
-
-
48
-
1,990
38
-
-
4
(7)
(8)
6
-
-
(5)
5
(23)
6
12
5
-
-
-
5
7
8
16
17
Purchase of securities
(20,503)
(40,444)
(21,162)
(8,278)
(8,119)
(22,983)
(13,569)
(10,184)
(593)
(3,540)
(1,066)
(6,655)
(10,175)
(2,607)
(20,199)
(8,211)
(6,435)
(5,599)
(20,650)
-
-
(512)
(935)
(50)
(941)
(6,352)
(1,943)
(1,095)
(1,468)
(3,613)
Sale/maturation of securities
29,452
39,849
11,965
12,842
11,356
12,653
12,365
5,184
1,373
6,877
10,130
6,404
6,289
6,629
14,980
12,643
5,058
7,168
2,845
2,988
4,219
1,913
3,457
2,227
4,486
2,672
1,813
3,162
3,932
2,449
Change in other non-current assets
-
(1)
(5)
3
(8)
35
42
(96)
-
-
2
-
(1)
(1)
(8)
7
-
-
2
-
(4)
(3)
(1)
(2)
6
(2)
(1)
(3)
(2)
Transactions with associates and joint ventures
(88)
(122)
(139)
211
33
130
532
(1,648)
18
(65)
5
17
(110)
-
22
(126)
(10)
(8)
(44)
9
(103)
(1)
30
48
46
86
10
22
31
(30)
Dividends received and capital reduction
21
25
13
22
20
15
39
30
-
-
-
15
6
-
-
24
-
1
-
-
13
-
11
-
11
-
10
(1)
11
-
Cash flows from investing activities
(10,997)
(1,026)
(10,054)
(1,060)
(7,405)
(9,863)
3,125
(14,209)
(2,925)
(1,965)
654
(7,169)
(7,259)
2,777
2,688
452
(4,499)
333
(8,762)
(276)
10
(1,026)
2,805
(295)
1,275
(4,846)
(1,225)
(1,943)
301
(4,538)
Proceeds from capital injection
10,174
-
-
-
-
13,007
-
-
-
-
10,174
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Proceeds from raising of loans
-
-
5,468
-
406
520
4,722
19,280
(3,311)
3,639
(13,471)
5,632
3,550
4,289
(6,158)
2,159
677
3,322
4,564
904
-
-
-
-
-
-
(2,408)
2,814
(2,876)
2,876
Instalments on loans
(2,043)
(6,429)
(4,069)
(11,097)
(848)
(9,122)
(11,157)
(7,678)
(407)
(570)
159
-
(2,202)
-
(2,686)
(3,637)
(106)
-
(1,708)
(2,148)
(129)
(84)
(3,818)
237
(7,308)
(207)
(489)
-
(211)
(148)
Instalments on leases
(664)
-
-
-
-
-
-
-
(112)
(114)
(314)
(153)
(102)
(95)
-
-
-
-
-
-
-
-
-
-
-
-
Coupon payments on hybrid capital
(556)
(545)
(640)
(640)
(822)
(754)
(675)
(648)
(326)
-
(229)
-
(327)
-
(219)
-
(326)
-
(133)
(182)
(325)
-
(134)
(181)
(325)
-
(68)
(182)
(572)
-
Repurchase of hybrid capital
(4,005)
-
3,668
-
(4,476)
-
(695)
-
-
-
(4,005)
-
-
-
-
-
-
-
3,668
-
-
-
-
-
-
-
-
-
(4,476)
-
Proceeds from issuance of hybrid capital
4,416
-
-
-
4,424
-
4,094
-
-
-
4,416
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,424
-
Paid dividends to shareholders of Ørsted A/S
(4,096)
(3,781)
(2,521)
-
-
-
-
(1,457)
-
(4,410)
(2)
2
-
(4,096)
2
-
-
(3,783)
1
-
-
(2,522)
-
-
-
-
-
-
-
-
Purchase of own shares
(99)
(48)
-
(53)
-
-
-
-
(58)
-
-
-
(99)
-
(48)
-
-
-
-
-
-
-
-
(53)
-
-
-
-
-
-
Transactions with non-controlling interests
(462)
(391)
(431)
(527)
(621)
(621)
(476)
2,434
(89)
(139)
(63)
(195)
(61)
(143)
(25)
(160)
(46)
(160)
(69)
(209)
7
(160)
(136)
(58)
(190)
(143)
(196)
(74)
(194)
(157)
Net proceeds from tax equity partners
1
78
-
-
-
-
-
-
23
(20)
(34)
44
(8)
(1)
78
-
-
-
-
-
-
-
-
-
-
-
Collateral related to derivatives and change in other liabilities
(1,332)
422
(11)
28
23
1
47
(81)
586
1,790
(441)
(932)
2,266
(2,225)
(620)
463
150
429
1
4
(16)
-
16
4
5
3
12
11
1
(1)
Cash flows from financing activities
1,334
(10,694)
1,464
(12,289)
(1,914)
3,031
(4,140)
11,850
(3,694)
176
(3,810)
4,398
3,017
(2,271)
(9,676)
(1,175)
349
(192)
6,324
(1,631)
(463)
(2,766)
(4,072)
(51)
(7,818)
(347)
(3,149)
2,569
(3,904)
2,570
Cash flows from discontinued operations
174
209
9,025
1,466
675
323
(5,325)
595
102
(146)
(28)
202
(2)
2
337
(1)
(2)
(125)
431
5,052
1,732
1,810
1,037
993
(1,042)
478
1,237
(564)
(119)
121
Total net change in cash and cash equivalents
3,590
(1,168)
1,458
(611)
(1,123)
3,065
(586)
529
1,680
(2,363)
1,632
(1,698)
3,266
390
914
(841)
(859)
(382)
1,071
2,050
(569)
(1,094)
1,522
591
(6,370)
3,646
1,327
(650)
(859)
(941)
Cash and cash equivalents at the beginning of the period
2,663
3,891
2,628
3,677
4,770
1,431
1,952
1,361
4,223
6,459
4,743
6,311
3,120
2,663
1,740
2,628
3,524
3,891
3,000
900
1,582
2,628
1,187
761
7,109
3,677
2,464
3,100
3,934
4,770
Cash flows for the period from assets classified as held for sale
-
(27)
(140)
(433)
(115)
29
92
33
-
-
-
-
-
-
48
(38)
(27)
(10)
7
(25)
(58)
(64)
(43)
(140)
(71)
(179)
(126)
11
-
-
Other change in cash and cash equivalents
(17)
5
33
-
-
-
-
-
1
79
1
(11)
(7)
-
4
1
(3)
3
(162)
86
(4)
113
-
-
-
-
-
-
-
-
Exchange rate adjustments of cash and cash equivalents
223
(38)
(88)
(5)
145
245
(27)
29
(25)
48
83
141
(68)
67
(43)
(10)
(7)
22
(25)
(11)
(51)
(1)
(38)
(25)
93
(35)
12
3
25
105
Cash and cash equivalents at the end of period
6,459
2,663
3,891
2,628
3,677
4,770
1,431
1,952
5,879
4,223
6,459
4,743
6,311
3,120
2,663
1,740
2,628
3,524
3,891
3,000
900
1,582
2,628
1,187
761
7,109
3,677
2,464
3,100
3,934
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Disclaimer
Ørsted A/S published this content on 12 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2020 08:32:12 UTC
Orsted A/S is one of the leading Danish energy groups. Net sales break down by activity as follows:
- development, construction and operation of offshore wind farms (72%): 17.8 TWh of wind energy produced in 2023. At the end of 2023, the group had an installed capacity of 8.9 GW;
- production and distribution of electricity, gas and bioenergy (24.6%): electricity (2.6 TWh sold in 2023), gas (16.9 TWh sold) and thermal energy (6.6 TWh produced). In addition, the group is developing an oil transport activity;
- development, construction and operation of onshore wind and solar PV farms (3.3%): operation of onshore wind and solar farms with an installed capacity of 4.2 GW;
- other (0.1%).
Net sales are distributed geographically as follows: Denmark (79.3%), the United Kingdom (12.8%), the United States (2.6%), Germany (2.2%), Taiwan (1.3%), Ireland (0.8%), Sweden (0.5%) and other (0.5%).