Financial Report - Q1 2007

16.05.07
HIGHLIGHTS

First-quarter revenue was DKK 10,673 million compared with DKK 8,184 million in
2006EBITDA amounted to DKK 3,228 million compared with DKK 3,348 million. EBIT
was DKK 1,991 million compared with DKK 2,831 millionProfit after tax was DKK
1,302 million compared with DKK 2,083 million. Profit from acquired companies
was DKK 888 million compared with DKK 197 millionOperating cash inflow was DKK
2,961 million versus DKK 2,281 million. Investing activities absorbed DKK 1,241
million versus DKK 4,724 million. The principal investments in the first
quarter were the Ormen Lange project, underground installation of power cables
in North Zealand, international wind power activities and the initial payment
on the acquisition of ConocoPhilips in Denmark. Capital expenditure in 2006
related primarily to the acquisition of Elsam sharesIn March, DONG Energy
reached an agreement on DONG Energy's acquisition of ConocoPhillips' Danish
exploration and production activities for USD 300 millionThe full-year profit
outlook for 2007 is adjusted downwards compared with the profit outlook in the
2006 annual report. EBITDA is now expected to be somewhat lower due to the
sustained fall in electricity prices. The outlook concerning profit after tax
is on a par with the announcement in the 2006 annual report, as the
non-recurring income resulting from the reduction in the income tax rate from
28% to 25% makes up for the effect of the lower electricity prices

070516_DONGEnergy_FinancialReport_Q12007.pdf

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