Q4 2019 Orsted A/S Earnings Call Transcript
Hello, and welcome to the Ãrsted Annual and Q4 Report 2019. (Operator Instructions)
Today, I am pleased to present Henrik Poulsen, CEO; and Marianne Wiinholt, CFO. Please begin your meeting.
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Thank you, and good afternoon, everyone, and welcome to this earnings call. 2019 was a strong year for Ãrsted with continued strategic progress, global expansion and strong financials.
Our group EBITDA, excluding new partnerships, came in at DKK 17.5 billion, an increase of 17% on 2018. Earnings from offshore and onshore wind farms in operation increased by 30% to DKK 14.8 billion, driven by ramp-up of new offshore and onshore wind farms.
2019 was also positively impacted by higher earnings from our trading activities and the reversal of a provision related to the Elsam competition case.
These positive developments were partly offset by the increase in provisions related to our LNG activities, higher project development
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