Orsted OTC Reports Strong Renewable Growth in 2024

Orsted OTC ( (DNNGY) ) has released its Q4 earnings. Here is a breakdown of the information Orsted OTC presented to its investors.

Orsted OTC is a prominent company in the renewable energy sector, specializing in the development, construction, and operation of offshore and onshore wind farms, solar farms, and energy storage facilities with a strong commitment to sustainability.

In its latest earnings report, Orsted OTC highlights its strategic and financial performance for 2024, noting a significant increase in installed renewable capacity and advancements in major projects across various regions.

The company reported an EBITDA of DKK 32.0 billion, with notable earnings from offshore sites and a strategic divestment program that generated DKK 22 billion. Despite challenges in the US projects, Orsted OTC maintained a focus on optimizing its assets and improving revenue capabilities.

Looking forward, Orsted OTC plans to continue its focus on strategic growth in attractive offshore wind opportunities and maintain a disciplined approach to capital allocation. The company aims for a significant increase in renewable capacity to 27.3 GW by 2027 while upholding strong sustainability commitments.

The management remains optimistic about Orsted OTC’s ability to navigate market challenges and achieve long-term growth, expecting an EBITDA of DKK 29-33 billion by 2026 with a robust strategy to enhance value creation in the renewable energy sector.