Ørsted A/S Q1 Profit Declines, EBITDA Rises; Backs FY26 EBITDA Growth View - Update

(RTTNews) - Ørsted A/S (ORSTED.CO), a Denmark-based offshore wind farm operator, reported Wednesday lower profit in its first quarter, while EBITDA increased with higher revenues. Further, the company maintained fiscal 2026 outlook.

For fiscal 2026, the company continues to expect EBITDA of above 28 billion Danish kroner excluding new partnerships and cancellation fees. Furthermore, the company maintained gross investment guidance of 50 billion kroner to 55 billion kroner.

In fiscal 2025, EBITDA, excl. new partnerships and cancellation fees, was 25.1 billion kroner, and Gross investments were 55.8 billion kroner.

The firm said, "We are following developments regarding potential tariffs and other regulatory changes, particularly affecting the US, and are continually assessing any possible financial and wider impacts."

In the first quarter, the company's net earnings totaled 2.176 billion kroner, or 1.6 kroner per share, down from 4.443 billion, or 5.9 kroner per share, last year. The result was affected by non-cash tax effects and impairments due to the higher long-dated US interest rates.

EBITDA, however, grew 8 percent to 9.545 billion kroner from 8.871 billion kroner a year ago.

EBITDA excluding new partnerships and cancellation fees increased 11 percent compared to the same period last year.

The higher earnings were primarily driven by a 27 percent increase in offshore generation following ramp-up at both Borkum Riffgrund 3 and Greater Changhua 4 and slightly higher wind speeds than normal.

EBITDA from offshore business amounted to 7.5 billion kroner, which was an increase of 1.2 billion kroner compared to the same period last year.

The company's revenue for the period rose 33.4 percent to 27.620 billion kroner from 20.705 billion kroner last year.

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