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DONG Energy swings to profit in Q3

Dong Energy A/S said its normalized net income for the third quarter came to 3.09 billion kroner, compared with a loss of 1.02 billion 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 15.0% from negative 8.4% in the year-earlier period.

Total revenue rose 73.2% on an annual basis to 20.92 billion kroner from 12.08 billion kroner, and total operating expenses rose 19.4% from the prior-year period to 15.67 billion kroner from 13.12 billion kroner.

Reported net income totaled 2.79 billion kroner, compared with a loss of 2.01 billion kroner in the prior-year period.

As of Oct. 29, US$1 was equivalent to 6.80 Danish kroner.