Ørsted reports third quarter loss, but hails execution of business plan

Unveiling an interim report for the first nine months of 2025, the company – the world’s largest developer of offshore windfarms – said the Q3 2025 loss compared with a profit of Dkr5.2Bn in the same quarter in 2024, but said it had taken significant steps in the quarter to address the fallout from its problems in the US market.

The Danish company said it had strengthened its capital structure through the completion of a rights issue and the divestment of a 50% equity stake in the 2.9-GW Hornsea 3 offshore windfarm in the UK. It said operational performance “remained solid” and reiterated full-year EBITDA guidance.

Ørsted group president and chief executive Rasmus Errboe said, “I am satisfied with progress across our entire construction portfolio and our solid operational performance. 

“Despite lower wind speeds in the quarter, we have increased generation by 8% compared to Q3 2024, through a combination of higher availability rates for our offshore portfolio and ramping up generation from Gode Wind 3 in Germany.”

Mr Errboe said the company has “significantly strengthened” its financial robustness with the completion of the rights issue and Hornsea 3 divestment. “I’m pleased with the strong support from our shareholders,” he said.

“I see this as a strong indication that our investors see significant potential in Ørsted and in the offshore wind industry. Our key focus is to continue delivering on our business plan, which will enable us to remain a global leader of offshore wind with a strong foothold in Europe.”

The rights issue raised Dkr60Bn in gross proceeds. In the last quarter, the company also announced further action to improve its competitiveness, including a head count reduction of approximately 2,000 positions.