Q1 2020 Orsted A/S Earnings Call Transcript
Hello, and welcome to this ÃËrsted Q1 2020 Earnings Call. (Operator Instructions). So today's speakers are the CEO, Henrik Poulsen; and the CFO, Marianne Wiinholt. Please begin.
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Thank you so much, and good afternoon, everyone, and welcome to this earnings call. I hope you're all safe and in good spirits despite these unusual and challenging times.
Despite the COVID-19 crisis and its profound impact on societies around the world, we have had a very good start to the year with strong financial results and solid operational performance across the entire business. I'll give you an update on the effects of COVID-19 shortly, but let me start by summarizing the first quarter highlights.
EBITDA for the quarter amounted to DKK 6.8 billion, which is an increase of 33% compared to last year. The increase in EBITDA was mainly driven by our offshore and onshore wind farms in operation, where we see a year-on-year increase of 25% driven by ramp
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