Investor Presentaiton
Net profit, ROCE and Equity
Net profit
DKKbn
Borkum Riffgrund 3
farm-down
ROCE
%, last 12 months
5.7
1.6
3.2
4.1
19.0
13.8
Q1 2022
Q1 2023
31 Mar 2022
31 Mar 2023
Equity
DKKbn
Equity excl. hedging reserves
Hedging reserves
95.5
102.8
122.0
119.6
-26.5
-16.8
31 Mar 2023
Net profit of DKK 3.2 bn
⚫ Lower EBITDA as well as higher
depreciations from assets in operation
• Increased financial expenses driven by
exchange rate adjustments and higher
interest expense
ROCE of 13.8 %
Decrease driven by lower EBIT and higher
capital employed
• On track to achieve average ROCE of
11-12% between 2020-2027
31 Dec 2022
Equity of DKK 102.8 bn
Reduced hedge reserve driven by hedge run
off and lower forward power prices
7
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