September 17, 2014 6:55 AM ET

Oil, Gas and Consumable Fuels

Company Overview of DONG Energy AS

Company Overview

DONG Energy A/S, together with its subsidiaries, is engaged in procuring, producing, distributing, and trading in energy and related products in Northern Europe. The company’s Exploration and Production segment is involved in the exploration and production of oil and gas in Denmark, Norway, the United Kingdom, the Faroe Islands, and Greenland; and has an ownership interest in the Gassled gas pipeline network connecting the Norwegian fields with the European continent and the United Kingdom. Its Wind Power segment is engaged in the development, construction, and operation of wind farms in Denmark, the United Kingdom, Norway, Sweden, Germany, France, and the Netherlands. The company’s Thermal ...

Kraftværksvej 53 - Skærbæk

Fredericia,  7000

Denmark

Founded in 1972

6,379 Employees

Phone:

45 99 55 11 11

Fax:

45 99 55 00 11

Key Executives for DONG Energy AS

Chief Executive Officer
Age: 47
Chief Financial Officer
Age: 49
Executive Vice President of Exploration & Production and Member of the Executive Board
Age: 60
Vice President
Executive Vice President
Age: 48
Compensation as of Fiscal Year 2014.

DONG Energy AS Key Developments

DONG Energy Plans IPO Before 2018

DONG Energy AS said Goldman, the Danish government and the minority owners have agreed to work for an initial public offering before 2018. Goldman said at the time it would defer to Poulsen and his management team in how the company should be run. “Goldman Sachs are on the board,” Chief Executive Officer of DONG, Henrik Poulsen said. “They’re not in operations per se. They are a counterpart for our trading business as they’ve been for many years.”

DONG Energy AS Reports Earnings Results for the First Half of 2014; Reaffirms Earnings Guidance for the Year 2014

DONG Energy AS reported earnings results for the first half of 2014. For the period, the company's EBITDA was DKK 9.8 billion compared with DKK 7.8 billion in first half of 2013. The increase relative to the same period last year was due to higher earnings from wind activities, including a gain from the divestment of 50% of DONG Energy's ownership interest in the UK offshore wind farms London Array and Westermost Rough as well as higher production in E&P. Net profit was DKK 1.4 billion, up DKK 1.0 billion on first half 2013, primarily driven by the higher EBITDA and impairment losses recognised in first half of 2013. Cash flows from operating activities increased to DKK 6.6 billion from DKK 4.6 billion in first half of 2013, mainly driven by the improved operating profit and fewer funds tied up in working capital. Interest-bearing net debt decreased by DKK 19.4 billion from the end of 2013 to DKK 6.4 billion at the end of June 2014. ROCE (rolling 12 months) was 4.1% compared with negative 6.3% at the end of first half of 2013. The company reaffirmed its earnings guidance for the year 2014. For the year, the company expects EBITDA to be DKK 15-17 billion; Net investments of around DKK 30 billion and funds from operation (FFO) relative to adjusted net debt are expected to be around 25% in 2014.

DONG Energy AS, H1 2014 Earnings Call, Aug 27, 2014

DONG Energy AS, H1 2014 Earnings Call, Aug 27, 2014

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 17, 2014
Gode Wind 2 Project
Merger/Acquisition
May 15, 2014
PowerSense A/S
Merger/Acquisition
March 31, 2014
DONG Energy AS, Westermost Rough Offshore Wind Farm
 

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