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Dong pre-tax profits soared by 74 per cent to 15 billion Danish kroner (£1.7 billion) in 2013, it announced on Wednesday.
The increase was driven by higher earnings in offshore wind, cost-cutting and an increased stake in Ormen Lange gas field, the Danish energy giant said.
After tax, the company made a loss of DKK 1 billion (£110 million), an improvement on losses of DKK 4 billion in 2012.
It invested DKK 21.2 billion, mainly in offshore wind and oil and gas production. Projects included the London Array, which officially launched in July and Race Bank, which Dong bought from Centrica for £50 million in December.
The company also sold off assets worth DKK 15.3 billion, including a UK gas-fired power station. In December, it sold the 800MW Severn CCGT for £350 million to a consortium led by Macquarie.
Henrik Poulsen, chief executive of Dong, said the result was “satisfactory” and “our financial platform has been significantly strengthened”.
However, he noted that the return on capital had been “weighed down” by a writedown of DKK 5 billion. “In the coming years, we will be focusing on profitable growth with a view to delivering a satisfactory return on capital employed,” he said.
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