Hit by lower wind speeds, cable problems Shares fall almost 4% (Adds details, CFO comments, updated share reaction)
COPENHAGEN, April 29 (Reuters) - Lower wind speeds and cable problems hit first-quarter earnings at Denmark’s Orsted , sending shares in the world’s biggest offshore wind farm developer lower on Thursday.
Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 4.9 billion Danish crowns ($799 million), missing analysts’ consensus forecast of 5.2 billion crowns.
However, Chief Executive Mads Nipper said the company’s operational performance “was good during Q1 2021 and slightly exceeded our expectations”.
Nipper took the helm in January. His predecessor, Henrik Poulsen, stepped down after leading the energy company’s transformation away from fossil fuels.
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Reuters