DNNGY - Ørsted A/S (DNNGY) Q1 2024 Earnings Call Transcript
2024-05-02 16:51:09 ET
Ørsted A/S. (DNNGY)
Q1 2024 Earnings Conference Call
May 02, 2024, 08:00 AM ET
Company Participants
Rasmus Haervig - Investor Relations
Mads Nipper - Group President and CEO
Trond Westlie - CFO
Conference Call Participants
Harry Wyburd - BNP
Ahmed Farman - Jefferies
Kristian Tornoe - SEB
Deepa Venkateswaran - Bernstein
Alberto Gandolfi - Goldman Sachs
Casper Blom - Danske Bank
Robert Pulleyn - Morgan Stanley
Mark Freshney - UBS
Jenny Ping - Citi
Marc Ip Tat Kuen - Berenberg
Dominic Nash - Barclays
Louis Boujard - Oddo BHF
Presentation
Operator
Wonderful good afternoon ladies and gentlemen. Welcome to the Ørsted Q1 2024 Earnings Call. For the first part of this call, all participants will be in a listen-only mode. And after the presentation, you have possibility to ask questions during the question-and-answer session. Today's speakers are Group President and CEO Mads Knipper and CFO Trond Westlie. Gentlemen, please go ahead.
Mads Nipper
Thank you very much and hello everyone and thank you for joining our earnings call. First of all, I'm very happy to be joined today by you, Trond, our newly appointed CFO, Trond Westlie. Trond has strong competences and experience from his career as CFO in several global listed companies such as A.P. Moller-Maersk, Telenor and Aker Kvaerner. I will leave the word to Trond for introductory remarks when I hand over for the financials.
We decided to change and simplify the executive management structure at Ørsted to further sharpen the company's focus on project execution, financial discipline and value creation. As part of the new management structure, we have established a new commercial organization under the leadership of Rasmus Errboe, who is appointed Deputy CEO and Chief Commercial Officer. And a lot of you have in the past quarter met with Rasmus in his capacity as interim CFO.
At the same time, Patrick Harnett, who is heading our European offshore construction portfolio and has been responsible for the construction of Hornsea 2, has been appointed new Executive Vice President and Chief Operating Officer. Going forward, the Ørsted Group Executive Team will consist of Rasmus Errboe, Trond Westlie, Patrick Harnett, Henriette Fenger Ellekrog as CHRO and myself.
Our annual General Meeting on March 5th also led to changes with new chairmanship of our Board of Directors, as our previous Vice Chair, Lene Skole, stepped up and replaced Thomas Thune Andersen after 10 years as Chair. And our now ex-interim COO, Andrew Brown, has been appointed Vice Chair. We have been off to an encouraging start to 2024. On the back of our updated business plan, which we presented in the beginning of February, we have made good progress in regard to executing the plan and we have reached a number of important milestones. And let me take you through the most significant.
First of all, our 924 megawatt Sunrise Wind project, has been selected for award in New York's fourth offshore wind solicitation. I will cover the project and the path forward in detail on the next slide. We have submitted a bid into the Taiwanese Round 3.2 auction with our Greater Shanghai 3 project. The outcome of the auction is expected during the summer....
Ørsted A/S (DNNGY) Q1 2024 Earnings Call Transcript