April 29, 2020 / 6:30 AM / a month ago

Offshore wind firm Orsted first-quarter profit tops forecasts

COPENHAGEN, April 29 (Reuters) - Orsted beat first-quarter profit expectations on Wednesday and said the coronavirus would not "materially" hit earnings this year although it might slow U.S. projects.

Earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 33% to 6.8 billion Danish crowns ($989 million), beating the $5.85 billion forecast by 10 analysts in a poll compiled by Orsted, the world's largest offshore wind developer.

$1 = 6.8754 Danish crowns Reporting by Stine Jacobsen; editing by Jason Neely

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