Danish utility DONG, the world's largest owner of offshore wind power assets, beat analysts' Q2 forecasts with earnings of DKK4.4bn ($694m) thanks to a deferred gain on an asset sale of DKK1.4bn. This could allow for increased dividends or buybacks, but the firm will first look at investing in new opportunities while also raising the bar for farm downs. The company said it had booked net income in its first quarter after tax of DKK 1.3bn, up from DKK1bn last year. As its portfolio generates more cash it will be able to reduce asset sales to invest in new projects.
Danish utility DONG, the world's largest owner of offshore wind power assets, beat analysts' Q2 forecasts with earnings of DKK4.4bn ($694m) thanks to a deferred gain on an asset sale of DKK1.4bn. The company said it had booked net income in its first quarter after tax of DKK 1.3bn, up from DKK1bn last year. As its portfolio generates more cash it will be able to reduce asset sales to invest in new projects.