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Ørsted A/S (DOGEF)

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146.00+5.85 (+4.17%)
At close: 10:02AM EDT
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Neutralpattern detected
Previous Close140.15
Open146.00
Bid0.00 x 0
Ask0.00 x 0
Day's Range146.00 - 146.00
52 Week Range81.00 - 146.00
Volume547
Avg. Volume653
Market Cap60.389B
Beta (5Y Monthly)0.54
PE Ratio (TTM)39.07
EPS (TTM)3.74
Earnings DateN/A
Forward Dividend & Yield1.56 (1.13%)
Ex-Dividend DateMar 03, 2020
1y Target EstN/A
  • GlobeNewswire

    Ørsted appoints Mads Nipper the next CEO of Ørsted

    Today, the Board of Directors appointed Mads Nipper CEO and Group President of Ørsted as of 1 January 2021. Mads Nipper is currently CEO and Group President at Grundfos. The appointment follows the decision by Henrik Poulsen, announced on 15 June 2020, to resign his position and step down as CEO of Ørsted no later than 31 January 2021.Thomas Thune Andersen, Chairman of the Board of Directors, said: “On behalf of the Board, I’m very pleased to announce Mads Nipper as Ørsted’s next CEO. Anchored in a clear sustainability vision, Mads has led a highly successful transformation of Grundfos over the past six years that has reinforced the company’s position in an increasingly competitive market, while also strengthening financial performance. With his deep commitment to sustainability and the green agenda, his strong personal leadership, extensive CEO experience, and his distinguished track record in leading global companies, the Board is confident that Mads Nipper is the right person to lead Ørsted in the next phase of our exciting journey.”Mads Nipper, Ørsted’s next CEO and Group President, said: “The challenge we face in transforming the world’s energy systems from fossil fuels to renewable energy to avoid the catastrophic consequences of climate change is more pressing than ever and requires action in all parts of society. As one of the five largest renewable energy companies in the world and with a clear ambition to be a leader in the global energy transformation, Ørsted is in a unique position to make a difference in the fight against climate change. I’m very excited to join the Ørsted team and to continue Ørsted’s successful journey to become one of the future global leaders in renewable energy.” Mads Nipper will take office on 1 January 2021. Henrik Poulsen will remain in office until 31 December 2020. To support a smooth transition, Henrik Poulsen will serve as special advisor to Mads Nipper until 31 January 2021. The compensation package for Mads Nipper is in accordance with Ørsted’s remuneration policy and includes a fixed base salary of DKK 15 million which also covers pension contribution, an annual cash-based variable remuneration of 0-30% of the annual fixed salary with a target of 15%, and a long-term share-based remuneration with a target of 20% of the annual fixed salary. To participate in the long-term share-based remuneration programme, the CEO is required to own shares in Ørsted, as described in the remuneration policy. In 2021, the total target remuneration will be approx. DKK 20 million. The information provided in this announcement does not change Ørsted’s previous financial guidance for the financial year of 2020 or the announced expected investment level for 2020. For further information, please contact: Media Relations Martin Barlebo +45 99 55 95 52 Investor Relations Allan Bødskov Andersen +45 99 55 79 96 CV for Mads NipperGender:         Male Age:               54 Nationality:   Danish Education:    MSc in International Business, Aarhus School of Business, Denmark, 1991 Previous positions: 2014 - 2020:   CEO and Group President, Grundfos A/S 1991 - 2014:   LEGO A/S, most recently as Chief Marketing Officer and Executive Vice President as well as a member of the Management BoardNon-executive positions: * Deputy Chairman, Confederation of Danish Industry * Vice Chairman of the Board of Directors, Danish Crown * Member of the Advisory Board, Axcel   Ørsted’s vision is to create a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks 1 in Corporate Knights’ 2020 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,000 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2019, the company generated revenue of DKK 67.8 billion (EUR 9.1 billion). For more information on Ørsted, visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter. Attachment * 09SEP2020_Company announcement_Ørsted appoints Mads Nipper the next CEO of Ørsted

  • GlobeNewswire

    Ørsted completes the divestment of its Danish power distribution, residential customer, and City Light businesses

    Today, Ørsted finalised the divestment of its Danish power distribution business (Radius), residential customer business, and City Light business to SEAS-NVE. As part of the transaction, approximately 750 employees have been transferred from Ørsted to SEAS-NVE.Henrik Poulsen, CEO and President of Ørsted, states: “SEAS-NVE is a great new home for our Danish customer activities. At Ørsted, we’re committed to a global build-out of our renewable energy production, and our Danish customer activities wouldn’t get the attention they deserve in the future. We’re therefore no longer the right owner. I’d like to take this opportunity to warmly thank all the employees for their dedicated efforts for Ørsted and their significant contribution to our strategic transformation over the past years.”The transaction leads to changes in Ørsted’s Board of Directors, as the two employee-elected board members Hanne Steen Andersen and Poul Dreyer will be joining SEAS-NVE. Instead, the two alternates Daniel Tas Sandermann and Ole Henriksen will join Ørsted’s Board of Directors. Daniel Tas Sandermann has been employed with Ørsted for five years and heads Commercial & Strategy Execution in Markets & Bioenergy, and Ole Henriksen has been employed with Ørsted for 13 years and works as an engineer in the same business unit. Thomas Thune Andersen, Chairman of the Board of Directors of Ørsted A/S, says: “I’d like to sincerely thank Hanne and Poul for their hard work and for their dedication to the Board during the last 14 and 11 years, respectively. I wish them both all the best in the future as part of SEAS-NVE.”The information provided in this announcement does not change Ørsted’s previously announced guidance and expected investment level for the 2020 financial year. For further details, please contact: Media Relations Ulrik Frøhlke +45 99 55 95 60 Investor Relations Allan Bødskov Andersen +45 99 55 79 96Ørsted’s vision is to create a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks 1 in Corporate Knights’ 2020 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,000 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2019, the company generated revenue of DKK 67.8 billion (EUR 9.1 billion). For more information on Ørsted, visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter.Attachment * 31AUG2020_Company announcement_Closing of RBC divestment

  • GlobeNewswire

    Interim report for the first half year 2020 - Strong first half

    Today, Ørsted’s Board of Directors approved the interim report for the first half-year (H1) of 2020. Our operating profit (EBITDA) amounted to DKK 9.8 billion, an 11% increase compared to the same period last year. Earnings from offshore and onshore wind farms in operation increased by 17% to DKK 8.2 billion driven by ramp-up of power generation from Hornsea 1, Lockett, and Sage Draw together with high wind speeds. Net profit amounted to DKK 2.5 billion and return on capital employed (ROCE) came in at 11%.The green share of our heat and power generation increased from 82% to 88%. Our EBITDA guidance is unchanged relative to the guidance in our interim financial report for Q1 2020, and thus we re-iterate our EBITDA guidance of DKK 16-17 billion in 2020. We lower our expectation to gross investments by DKK 2 billion to DKK 28-30 billion in 2020 due to changed timing of payments.Henrik Poulsen, CEO and President of Ørsted, says: “Despite the comprehensive health, social, and economic consequences of COVID-19, Ørsted has maintained stable operations and strong earnings during 2020. Our asset base has continued to be fully operational and we have maintained normal availability rates on our offshore and onshore wind farms. We have however seen negative COVID-19 related effects on European power markets, especially in the UK, driven by lower demand for electricity. The negative impact on our Q2 earnings was approx. DKK 150 million. A contained impact which does not change our full-year expectations. Our construction projects have largely progressed according to plans, both in Europe, Asia, and the US. The part of our portfolio most affected by COVID-19 is the construction of offshore substations for Hornsea 2 and Greater Changhua 1 & 2a. These are being constructed at two shipyards in Singapore, which were closed down for two months due to COVID-19. The shipyards have now begun to slowly ramp-up again. Although we still expect to be able to complete both projects within our budget and time schedule, we see increased risk of delays; especially at Hornsea 2. We expect any delays to have a limited overall impact on project economics.During the second quarter we achieved significant strategic results. We signed the largest ever renewable corporate power purchase agreement (CPPA) with Taiwan-based TSMC, the world’s largest semiconductor foundry. TSMC will offtake the full generation from our 920MW Greater Changhua 2b & 4 offshore wind farm.In the US, the Bureau of Ocean Energy Management (BOEM) released a draft of their Supplemental Environmental Impact Statement (SEIS) in June. The SEIS provides an evaluation of the foreseeable cumulative impacts of offshore wind projects on the US East Coast and provides a framework for future development of the industry. We are still awaiting the timeline for the approval process for our US projects. We expect to have more clarity during the second half of the year. At the 12MW Coastal Virginia demonstration project in the US, which we are constructing for Dominion Energy, we successfully installed both monopile foundations and turbines in June. The wind farm is the first ever in US federal waters.We commissioned the 230MW onshore wind farm Plum Creek in Nebraska ahead of schedule and on budget, and we received tax equity funding from our partners. We acquired the 227MWac solar PV project Muscle Shoals, located in Alabama. When completed, expectedly in Q3 2021, it will be the largest solar farm in south-eastern US. Together with Copenhagen Airport, A.P. Moller - Maersk, DSV Panalpina and SAS, we have founded the partnership - ‘Green fuels for Denmark’ - to develop an industrial-scale production facility to produce sustainable fuels for road, maritime and air transport in the Copenhagen area. The partnership brings together the demand and supply side of sustainable fuels with a vision to realise what could become one of the world's largest electrolyser and sustainable fuel production facilities. Together with nine partners, we secured funding for the renewable hydrogen project WESTKÜSTE 100 as the first large-scale hydrogen project in Germany within the Reallabor framework. WESTKÜSTE 100 is our third hydrogen project found eligible for public funding, and we are very excited about the prospects of supporting heavy industries and heavy transport with clean alternatives based on renewable hydrogen. The world continues to navigate a health crisis which has a severe impact on the lives and livelihoods of people across the globe as well as on global and local economies. In this challenging situation, Ørsted continues to focus on the health and well-being of its employees and their families while supporting a stable power supply in the markets where we operate. Our business model and organisation have proven very resilient, and we remain confident about the company’s ability to deliver on both its short-term and long-term performance targets. We continue to see strong political and public support for an accelerated transition to green energy and Ørsted’s long-term growth prospects are as strong as ever.”Financial key figures for Q2 2020 and H1 2020:DKK million Q2 2020 Q2 2019 %   H1 2020 H1 2019 %   EBITDA 2,956 3,625 (18%)   9,761 8,755 11%   Profit (loss) for the period from cont. operations (809) 1,093 n.a.   2,537 3,732 (32%)   Profit (loss) for the period from discont. operations (16) (18) (11%)   (44) (61) (28%)   Profit (loss) for the period (825) 1,075 n.a.   2,493 3,671 (32%)   Cash flows from operating activities 8,197 7,510 9%   7,769 7,392 5%   Gross investments (3,757) (3,368) 12%   (9,065) (7,267) 25%   Divestments 45 (11) n.a.   52 2,667 (98%)   Free cash flow 4,485 4,131 9%   (1,244) 2,792 n.a.   Net interest-bearing debt 22,272 4,980 347%   22,272 4,980 347%   FFO/adjusted net debt 23% 58% (35%p)   23% 58% (35%p)   ROCE 11% 29% (18%p)   11% 29% (18%p)   For further information, please contact:Media Relations         Investor Relations Martin Barlebo             Allan Bødskov Andersen +45 99 55 95 52          +45 99 55 79 96 Earnings call In connection with the presentation of the interim report, an earnings call for investors and analysts will be held on Wednesday, 12 August 2020 at 14:00 CEST. Denmark: + 45 78 15 01 10 UK: + 44 333 300 9035 US: + 1 844 625 1570The earnings call can be followed live at:https://edge.media-server.com/mmc/p/fm7kbt6i Presentation slides will be available prior to the earnings call at:www.orsted.com/en/investors/ir-material/financial-reports-and-presentations0 The interim report is available for download at: www.orsted.com/en/investors/ir-material/financial-reports-and-presentations0About Ørsted The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks 1 in Corporate Knights' 2020 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,700 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2019, the group's revenue was DKK 67.8 billion (EUR 9.1 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram and Twitter. Attachments * Ørsted_Company announcement_Interim report_H12020 * Ørsted_H1 2020_Interim financial report * Ørsted_Q2 2020_Investor presentation