Ørsted’s Strong Performance in First Half of 2025
Ørsted, a global leader in renewable energy, has reported a strong operational performance in the first half of 2025. The company’s earnings reached DKK 13.9 billion ($2.2 billion), supporting its full-year EBITDA guidance of DKK 25-28 billion.
While the offshore division initially had a ‘Higher’ directional guidance, it has been revised to ‘Neutral’ due to lower wind speeds experienced in the first months of 2025. In response to market developments, Ørsted has announced a rights issue to strengthen its capital structure and ensure financial robustness for the years 2025 through 2027.
Ørsted’s Rights Issue and Capital Strengthening
The Danish wind farm developer plans to raise 60 billion DKK ($9.4 billion) through a rights issue, citing challenges in the U.S. offshore wind market. The Danish state, which owns a majority stake in Ørsted, has agreed to subscribe to a similar portion of the share issue, maintaining its majority ownership.
To ensure the completion of the rights issue, any unsubscribed shares will be underwritten by Morgan Stanley & Co International. In light of market conditions, Ørsted has decided to halt the partial divestment process of its Sunrise Wind project in the United States.
Strategic Priorities and Organizational Focus
Ørsted’s CEO, Rasmus Errboe, outlined four strategic priorities for the company. These include strengthening the capital structure through the rights issue, progressing construction projects, disciplined capital allocation decisions, and enhancing organizational efficiency and competitiveness.
The company remains committed to its offshore wind construction portfolio, with significant milestones achieved at projects like Revolution Wind and Greater Changhua. Ørsted’s focus on right-sizing the organization and reducing costs will ensure continued competitiveness in the renewable energy sector.
Financial Results for H1 2025
In the first half of 2025, Ørsted reported an operating profit (EBITDA) of DKK 15.5 billion, representing a 9% increase compared to the same period last year. Earnings from offshore sites contributed significantly to this growth, reaching DKK 12.5 billion.
The company’s profit for the period totaled DKK 8.2 billion, demonstrating a substantial increase from H1 2024. Despite challenges in the offshore wind market, Ørsted’s strategic focus and operational performance have positioned it well for future growth and success.