Ørsted’s Board of Directors has approved the interim report for the first half of 2025, with Rasmus Errboe, Group President and CEO, saying he is satisfied with…
Ørsted’s Board of Directors has approved the interim report for the first half of 2025, with Rasmus Errboe, Group President and CEO, saying he is satisfied with the company’s strong operational performance which saw earnings of DKK 13.9 billion ($2.2 billion).
The figure supports Ørsted’s full-year EBITDA guidance of DKK 25-28 billion.
The company has however altered the outlook for the offshore division, changing the directional guidance for offshore from 'Higher' to 'Neutral' due to lower wind speeds in the first months of 2025.
A rights issue announced today is expected to strengthen Ørsted’s capital structure and provide financial robustness in the years 2025 through 2027, during which the company will deliver on its 8.1GW offshore wind construction portfolio.
The Danish wind farm developer plans a 60 billion DKK ($9.4 billion) rights issue, citing adverse development in the U.S. offshore wind market.
Ørsted said in a statement that the Danish state, which owns 50.1% of the company, has agreed to subscribe to a similar portion of the share issue, thus upholding a majority stake.
Any shares not subscribed for by the existing shareholders or other investors will be fully underwritten by Morgan Stanley & Co International to provide certainty that the
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