\n Orsted, the Danish offshore wind farm developer, reported a core profit for the second quarter that was above expectations on Thursday. It also maintained its financial outlook.\n<\/p>\n
\n Orsted has grown rapidly in the last decade, but recently it faced increased costs due to inflation and disruptions of the supply chain. It also faces regulatory challenges, as President Donald Trump is trying to stop the development.\n<\/p>\n
\n Profit before interest, tax and depreciation (EBITDA), exclusive of new partnerships, increased to $544.74 billion Danish crowns (838.74 millions) in the second quarter, up from $534.64 billion a year earlier. This was above a polled average of 5.1 billion crowns.\n<\/p>\n
\n In a recent statement, CEO Rasmus Errboe stated that “We have the?robustness? to pursue new value-creating offshore wind opportunities, and also to reinstate a dividend payment to our shareholders, as planned.”\n<\/p>\n
\n He said that Orsted had continued to?progress according to its planned costs and schedule.\n<\/p>\n
\n Orsted also reported impairment losses of 1.2 billion crowns primarily related its U.S. offshore projects due to a rise in U.S. long-dated interest rates.\n<\/p>\n
\n Orsted reiterated their full-year outlook, which was set in February. They expect a core profit of more than 28 billion crowns and gross investments between 50 and 55 billion. It confirmed its plans to pay dividends in 2026. Reporting by Louise Rasmussen and editing by Terje Solsvik.\n<\/p>\n
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