Ørsted Reports Solid Operational Earnings for 9M 2024

Ørsted A/S has demonstrated strong financial and operational performance for the first nine months of 2024. The company's Board of Directors approved the interim report, highlighting several key achievements. A significant renegotiation of contracts tied to Ocean Wind led to the reversal of cancellation fees totaling DKK 6.4 billion. In line with its business plan, Ørsted added 2.4 GW of renewable energy capacity and secured the 3.5 GW CfD awards for Hornsea 3 and 4 in the UK.

The company reported an EBITDA of DKK 23.6 billion for 9M 2024, a significant rise from DKK 19.4 billion in the same period the previous year, despite impairment losses and the decision to halt FlagshipONE. Offshore earnings drove this growth, supported by increased generation at new wind farms and favorable market conditions.

While the Revolution Wind project faces construction risks, Ørsted remains focused on overcoming these challenges. The company's EBITDA guidance for the year has been narrowed to DKK 24-26 billion, reflecting stable operational progress.