1、rsted Annual report 2017The way we work is based on five guiding principles:IntegrityWe are open and trustworthyand uphold high ethical standardsPassionWe are passionate about whatwe do and proud of what we achieveTeamWe value diversity and collaborate in anon-hierarchical,respectful and trusting wa
2、yResultsWe set the bar high,take ownershipand get the right things doneSafetyWe never compromise on health and safetystandardsIntegrity is our root.Passion is our energy.Team is our strength.Results give us freedom.The safe way or no way.The rsted WayLets create a worldthat runs entirely ongreen ene
3、rgyClimate change is one of the biggest challenges for life onEarth.Today,the world mainly runs on fossil fuels.We needto transform the way we power the world;from black togreen energy.At rsted,our vision is a world that runs entirely on greenenergy.We want to revolutionise the way we power peopleby
4、 developing green,independent and economically viableenergy systems.By doing so,we create value for the societiesthat we are a part of and for all our stakeholders.rsted Annual report 2017ContentsContentsManagements reviewOverview 4Chairmans statement 5CEOs review 6Our geographic footprint 10Our bus
5、iness model 11Strong progress in consolidated results 12Outlook 2018 13Financial targets and policies 15Group 16Market situation 17Our strategy 20Strategic targets 23Results 25Five-year summary 29Fourth quarter 30Quarterly summary,2016-2017 33Business units 34Our business units 35Wind Power 36Bioene
6、rgy&Thermal Power 40Distribution&Customer Solutions 43Governance 46Risk and risk management 47Corporate governance 51Remuneration report 55Shareholder information 58Group Executive Management 60Board of Directors 61Financial statementsConsolidated financial statements 63Income statement 64Statement