- Ørsted completed a rights issue with gross proceeds of DKK 60 billion.
- The divestment program secured DKK 46 billion, exceeding the target of DKK 35 billion.
- Offshore wind capacity is set to exceed 18 GW by 2027.
- EBITDA for 2026 is expected to be above DKK 28 billion.
Financial Performance
Ørsted reported an EBITDA of DKK 25.1 billion for 2025, within the guidance range of DKK 24 to 27 billion, and a net profit of DKK 3.2 billion. The company completed a rights issue, raising approximately DKK 60 billion in gross proceeds, and finalized its divestment program, securing DKK 46 billion, surpassing the target of DKK 35 billion.
Offshore Wind Expansion
Ørsted focused on expanding its offshore wind capacity, aiming to exceed 18 GW by the end of 2027. In 2025, offshore generation increased by 6% compared to 2024, driven by higher availability rates and the ramp-up of generation from Gode Wind 3 in Germany.
Strategic Developments
The company divested a 50% equity stake in the 2.9 GW Hornsea 3 Offshore Wind Farm in the UK and a 55% stake in the 632 MW Greater Changhua 2 Offshore Wind Farms in Taiwan. Ørsted also divested its European onshore business. The company is reconfiguring Hornsea 4 for potential future development and was awarded the rights to develop the 900 MW Tonn Nua offshore wind farm in Ireland.
Legal and Operational Challenges
Ørsted faced legal challenges in the U.S. with suspension orders for Revolution Wind, LLC and Sunrise Wind LLC, which were later lifted by the U.S. District Court. The company is working with the U.S. Administration for a resolution.
Future Outlook
For 2026, Ørsted expects EBITDA, excluding new partnership agreements and cancellation fees, to exceed DKK 28 billion, with gross investments projected at DKK 50-55 billion.
