Orsted’s Q3 profit lags as lower wind speeds bite

COPENHAGEN (Reuters) – Denmark’s Orsted on Wednesday reported third-quarter operating profit slightly below expectations as it said low wind speeds continued to hit earnings.

Orsted, the world’s largest offshore wind farm developer, reported earnings before interest, tax, depreciation and amortisation (EBITDA) at 2.98 billion Danish crowns ($463.99 million), 11% lower than last year and below the 3.07 billion crowns expected by analysts in a poll compiled by the company.

($1 = 6.4225 Danish crowns)

(Reporting by Stine Jacobsen, Editing by Louise Heavens)

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