Earnings at Danish utility Orsted surged during the first quarter of this year amid the effect of high power prices and one-off gains from the part-sale of a German offshore wind farm.

Revenue rose by 78% to DKr33.76bn ($4.78bn) in the first quarter 2022 from a year earlier, while earnings before interest, taxes, depreciation and amortisation (Ebitda) almost doubled (+94%) to DKr9.43bn, helped by a gain of DKr1.6bn from the 50% farm-down of the Borkum Riffgrund 3 array in the North Sea.