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DONG Energy Q2 profit climbs 55.9% YOY

Dong Energy A/S said its second-quarter normalized net income was 940.5 million kroner, a gain of 55.9% from 603.3 million kroner in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 5.1% from 3.8% in the year-earlier period.

Total revenue climbed 12.4% year over year to 18.03 billion kroner from 16.04 billion kroner, and total operating expenses climbed 11.8% year over year to 16.12 billion kroner from 14.42 billion kroner.

Reported net income came to 93.0 million kroner, compared with a loss of 568.0 million kroner in the prior-year period.

As of Aug. 19, US$1 was equivalent to 6.75 Danish kroner.