Suspension of Ørsted’s two US offshore wind farm projects — currently mired in legal battles — did impact the group’s fourth quarter, with growing costs from the delays leading to write-downs of 2.1 billion kroner and an operating loss of one billion kroner.
Under President Donald Trump, US authorities have for months attempted to block two of Ørsted’s nearly completed wind projects, Revolution Wind off Rhode Island and Sunrise Wind off New York.
Washington announced in December that it was halting all major offshore wind power projects under construction in the United States, citing “national security” risks.
The legal fight prompted Ørsted to embark on a major restructuring last year to free up capital and concentrate on offshore wind, its core business.
A divestment programme, including a 50 percent stake in an offshore wind farm in Britain and a 55 percent stake in offshore wind farms in Taiwan, secured the company around 46 billion kroner, well above its announced target of 35 billion kroner.
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For the full-year 2025, the company posted a net profit of 3.16 billion kroner, compared to 16 million kroner a year earlier, while sales rose three percent to 73.2 billion kroner.
Higher US tariffs on steel and aluminium imports — metals essential for offshore wind projects — also impacted the group’s growth last year, the company said.