Ørsted Tightens Offshore Focus After Rights Issue as 2025 Earnings Land Within Guidance

Orsted ( (DOGEF) ) has shared an update.

Ørsted reported 2025 EBITDA of DKK 25.1 billion excluding new partnership agreements and cancellation fees, in line with guidance, and a net profit of DKK 3.2 billion, as it executed a year of financial restructuring and strategic refocusing on offshore wind. The company strengthened its balance sheet with a DKK 60 billion rights issue and completed its 2025-26 divestment programme ahead of schedule, raising around DKK 46 billion by selling stakes in the Hornsea 3 and Greater Changhua 2 offshore wind projects and exiting its European onshore business. Operationally, Ørsted increased offshore power generation by 6% despite below-normal wind speeds, progressed its 8.1 GW offshore construction pipeline across three continents, and expects installed offshore capacity to exceed 18 GW by end-2027. Management has sharpened capital allocation toward offshore projects in Europe and select APAC markets, including reconfiguring the Hornsea 4 project and securing rights to the 900 MW Tonn Nua site in Ireland, while also announcing plans to cut about 2,000 jobs by 2027 to improve competitiveness and reduce costs. For 2026, Ørsted guides to EBITDA above DKK 28 billion and plans gross investments of DKK 50-55 billion, underscoring an ambition to leverage its reinforced capital structure and focused portfolio to pursue growth in offshore wind amid ongoing regulatory and legal complexities in key markets such as the US.

More about Orsted

Ørsted is a Danish-headquartered global leader in developing, constructing and operating offshore wind farms, with a core focus on Europe and expanding activities in Asia Pacific and North America. The group has 10.2 GW of installed offshore wind capacity and 8.1 GW under construction, contributing to more than 18 GW of total installed renewable capacity across offshore and onshore wind, solar, energy storage, bioenergy and energy trading. Listed on Nasdaq Copenhagen and employing about 8,000 people, Ørsted is widely recognised for its sustainability profile and is guided by a strategy to drive the transition to green energy.

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