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Orsted slumps as impairments booked in Q2 hit bottom line



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** Shares in Orsted ORSTED.CO slump 7.7% as impairments booked in Q2 overshadow better underlying earnings

** It flags Q2 impairment losses of DKK 3.9 billion ($575.40 mln), of which DKK 2.1 bln relates to a construction delay in Revolution Wind

** "Higher underlying earnings more than offset by impairments," J.P.Morgan says

** RBC adds impairment "hits bottom line", with H1 net profit of DKK 0.93 billion vs consensus of DKK 4.2 bln

** The impairments overshadow Q2 better-than-expected reported EBITDA of DKK 5.27 bln ($777.93 mln), which Jefferies says is "driven by higher wind speeds and lower devex"

** ING says H1 results "show some progress but challenges will remain for some time"


($1 = 6.7779 Danish crowns)



Reporting by Agnieszka Olenska

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