Ørsted Reports Strong Half-Year Financial Performance Despite Delays and Impairments

Ørsted A/S has announced its interim financial results for the first half of 2024, approved by the Board of Directors. Group President and CEO, Mads Nipper, highlighted the increase in earnings from offshore wind farms, maintaining the company's EBITDA guidance for the year. Ørsted has commissioned nearly 2 GW of renewable energy capacity, enough to power over 1.5 million households across three continents.

Despite these achievements, the company faced delays in the Revolution Wind project, pushing its commercial operation date to 2026. This resulted in an impairment loss of DKK 3.2 billion. Additionally, Ørsted has decided to halt the development of FlagshipONE due to slow market development in Europe.

The company maintains its full-year EBITDA guidance of DKK 23-26 billion. However, it has adjusted its directional guidance for Offshore and Bioenergy & Other segments. Gross investments guidance has also been lowered by DKK 4 billion.