Q3 2025 Oersted A/S Earnings Call Transcript

Nov 5, 2025 / 01:00 PM GMT

Transcript

Key Points

Positve

Orsted AS (DNNGY) successfully completed a rights issue in early October, significantly strengthening its capital structure.
The company entered into an agreement with Apollo to divest a 50% ownership share in the Hornsea 3 project, valued at approximately 39 billion, further bolstering its financial position.
Despite below-average wind speeds, Orsted AS (DNNGY) delivered 17 billion in EBITDA for the first nine months, driven by high availability across its offshore portfolio.
The company is on track to deliver its full-year EBITDA guidance of 24 to 27 billion, showcasing strong operational performance.
Orsted AS (DNNGY) has made significant progress on its offshore wind construction projects, with several projects advancing according to schedule, including Borkum Riffcon 3 and Baltica 2.

Negative

The Revolution Wind project in the US faced a stop work order, causing delays and legal proceedings, although activities have since resumed.
Orsted AS (DNNGY) reported impairments of 1.8 billion, primarily related to US offshore projects due to higher tariffs and increased costs.
The company's net profit for the quarter was a negative 1.7 billion, impacted by decreased earnings and impairments.
The EBITDA for the offshore business decreased due to lower wind speeds, reduced subsidy levels, and lower power trading earnings.
The company faces ongoing risks related to US trade policies, including potential increased tariffs on wind components, which could impact future financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ORSTED.CO - Oersted A/S
Q3 2025 Oersted A/S Earnings Call
Nov 05, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to this Orsted Q3 2025 earnings call.

For the first part of this call, all participants will be in listen-only mode, and afterwards there will be a question-and-answer session.

Today's speakers are group President and CEO Rasmus Herbaut and CFO Trent Westley. Speakers, please begin.

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Unidentified_2 [2]
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Hello everyone.

During the 3rd quarter of the year we have continued our focus on the execution of the 4 strategic priorities that we presented in February.

These will continue to be the core focus as we execute on our

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