{"id":68755,"date":"2026-04-26T09:10:31","date_gmt":"2026-04-26T09:10:31","guid":{"rendered":"https:\/\/www.europesays.com\/dk\/68755\/"},"modified":"2026-04-26T09:10:31","modified_gmt":"2026-04-26T09:10:31","slug":"orsted-strengthens-balance-sheet-with-rights-issue-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/dk\/68755\/","title":{"rendered":"\u00d8rsted Strengthens Balance Sheet With Rights Issue"},"content":{"rendered":"

\u00d8rsted (CPH: ORSTED) said it has completed<\/a> a DKK 60 billion rights issue and finalized the sale of a 50% stake in its 2.9 GW Hornsea 3 offshore wind farm in the UK, strengthening its balance sheet and supporting its long-term business plan.<\/p>\n

The Danish renewable energy major confirmed solid operational performance despite weaker wind conditions, reiterating its full-year 2025 EBITDA guidance of DKK 24\u201327 billion, excluding partnership earnings and cancellation fees.<\/p>\n

\u00d8rsted\u2019s capital raise and Hornsea 3 divestment were central to its strategy to reinforce liquidity and fund an 8.1 GW offshore wind construction portfolio. The company said the rights issue generated DKK 60 billion in gross proceeds, while the Hornsea 3 deal provided an additional liquidity boost, contributing to a stronger financial structure amid elevated investment activity.<\/p>\n

For the first nine months of 2025, \u00d8rsted reported EBITDA of DKK 18.6 billion, down 21% from the previous year, mainly due to the absence of one-off cancellation fee reversals booked in 2024. Excluding those effects, EBITDA remained largely stable at DKK 17 billion. Net profit rose 7% year-over-year to DKK 6.5 billion.<\/p>\n

Offshore generation earnings increased 5% to DKK 16.1 billion, driven by higher turbine availability and new capacity from Germany\u2019s Gode Wind 3 project, offsetting lower average wind speeds.<\/p>\n

The company highlighted steady progress across its 8.1 GW under-construction offshore wind portfolio, including completion of offshore substations for its U.S. Northeast projects. Once operational, these assets are expected to add an annual EBITDA run rate of DKK 11\u201312 billion.<\/p>\n

To enhance competitiveness and align operations with its European offshore focus, \u00d8rsted announced plans to cut around 2,000 positions by 2027. The restructuring is part of a broader effort to streamline operations as the company transitions from a build-out phase to asset operation.<\/p>\n

The latest actions follow a challenging 2024 marked by U.S. project cancellations and impairments exceeding DKK 28 billion, prompting \u00d8rsted to reset its growth strategy toward core European markets. The successful rights issue\u2014one of the largest ever in Denmark\u2014signals renewed investor confidence in \u00d8rsted\u2019s offshore wind leadership amid continued global demand for renewable energy.<\/p>\n

CEO Rasmus Errboe said the strong shareholder support reflects \u201csignificant potential in \u00d8rsted and in the offshore wind industry,\u201d reaffirming the company\u2019s commitment to maintaining its position as a global leader in renewables.<\/p>\n

\u00d8rsted\u2019s net interest-bearing debt stood at DKK 83 billion at the end of September, up 32% year-over-year, with a funds-from-operations-to-net-debt ratio improving to 13.9%. The company maintained its investment guidance of DKK 50\u201354 billion for 2025.<\/p>\n

By Charles Kennedy for Oilprice.com<\/p>\n

More Top Reads From Oilprice.com<\/p>\n","protected":false},"excerpt":{"rendered":"\u00d8rsted (CPH: ORSTED) said it has completed a DKK 60 billion rights issue and finalized the sale of…\n","protected":false},"author":2,"featured_media":68756,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[285],"tags":[11162,17304,778,71,383,406,380,287,848,11052],"class_list":{"0":"post-68755","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-orsted","8":"tag-capital-structure","9":"tag-ebitda","10":"tag-energy-transition","11":"tag-europe","12":"tag-hornsea-3","13":"tag-layoffs","14":"tag-offshore-wind","15":"tag-orsted","16":"tag-renewables","17":"tag-rights-issue"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@dk\/116470233526553336","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/68755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=68755"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/68755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/68756"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=68755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=68755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=68755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}